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Lenzing Group to Invest EUR 100 Million to Combat Carbon Footprint

As part of its climate strategy, the Austrian fiber producer has set itself the ambitious goal of net-zero carbon emissions drastically over the coming years.

June 24, 2019

Lenzing Group
Stefan Doboczky, CEO of the Lenzing Group

The Lenzing Group, the Austrian-based fiber producer will invest EUR 100 million in energy efficiency measures and increase the share of renewable energy and new technologies to reduce carbon emissions both inside its operational boundaries (scope 1+2) and in its supply chain.

Owing to its ambitious CO2 emission reduction strategy, the Lenzing Group will further contribute towards helping customers to transition their business to a lower CO2 base.

Stefan Doboczky, CEO of the Lenzing Group said, “Climate change is the most important issue mankind is facing. With this commitment we are fully in line with the Paris climate agreement and will further help the world to reduce the speed of global warming. Our ambitious decarbonization targets make us a front runner, not only in the world of fiber producers but also among major industrial companies. Despite the substantial investment that is necessary, we are convinced that this is not only a very responsible step but that it will also be a value-generating move.”

A first milestone is set for 2030, when Lenzing plans to reduce carbon emissions per ton of product by almost 50 percent (scope 1+2 and 3) compared to a 2017 baseline. The total carbon reduction of all the planned initiatives will yield 1.3 million tons Mt).