June 17, 2024
Fibre

Lenzing Again Recognised For Sustainability Performance

Lenzing has once again been recognised for its sustainability performance and its active contribution to transforming the industry towards a circular economy.

The rating agency MSCI awarded Lenzing an ‘AA’ rating for the third time in a row, placing Lenzing among the top eight percent of rated companies in its peer group.

In addition, Lenzing participated for the first time in the SAC Higgs FEM verification to assess the environmental impact of product manufacturing at its sites and achieved excellent positive results.

“According to the rating agency MSCI, Lenzing continues to lead the way among global companies in terms of governance structures,” the Austrian company said in a press release.

MSCI highlighted Lenzing’s strength in implementing initiatives to mitigate risk of environmental liabilities associated with release of toxic pollutants and highlighted its strong water stewardship program, which includes a water risk assessment.

According to Lenzing, the confirmation of the ‘AA’ rating from MSCI ESG enables Lenzing to further reduce its interest expense.

In November 2019, Lenzing placed a bonded loan in the amount of around €500 million, which is linked to the company’s sustainability performance.

In line with its commitment under the bonded loan, the company will donate the entire interest expense it saves thanks to the ‘AA’ rating to a social-ecological project.

“I am proud that Lenzing is among the top eight percent of the world’s most sustainable companies,” Lenzing CEO Stephan Sielaff said.

“At Lenzing, we are working hard to make our industries even more sustainable and to drive the transformation of the textile business model from a linear to a circular economy model,” he added.

“I am particularly pleased about the MSCI rating and that we have also achieved excellent results in the SAC Higgs FEM,” Sielaff noted.

SAC is an alliance of the apparel, footwear and textile industries in which Lenzing is an active member.

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