Coats, the world’s leading industrial thread company, has published its 2021 Sustainability Report titled ‘Pioneering a Sustainable Future: Accelerating our Journey’, which details the progress that has been made against its Sustainability Strategy launched in 2019. The Sustainability Strategy set out ambitious targets to be achieved by the end of 2022.
The progress achieved in 2021 included 22 percent reduction in water usage; 6.9 percent reduction in kWh per kilogram of production against a target of 7 percent by the end of 2022; 82 percent of effluent was compliant with ZDHC against a target of 100 percent by the end of 2022; 83 percent of employees worked in an accredited ‘Great Place To Work’ exceeding the target of 80 percent; 3 percent reduction in waste; and 19 percent of the sales of premium polyester threads were those made of recycled materials.
Rajiv Sharma, Group Chief Executive, said: “I am pleased with the substantial progress we have made in 2021 towards delivering our Sustainability targets. Our commitment to sustainability does not end when we achieve our 2022 targets. As an industry there is a long way to go and Coats has long term ambitions to ensure it will be at the leading edge of pioneering a sustainable future.”
The 2021 Sustainability Report outlines the company’s social impact ambitions including maintaining a workplace where every single employee is free from discrimination, feels respected and is treated fairly and equally and striving to achieve gender parity in all managerial roles, and higher than local labour market representation for all other underrepresented communities at Coats locations, the company said.
The report also outlines how the company will reach its ambitious targets for 2030: 70 percent of global energy consumption will come from renewables; all products will be made completely independently of new oil-extraction materials; shift to circularity, creating products and packaging solutions that enable recycling and reuse within the operations and across the wider industry; and increased positive social impact.
Coats recently received validation of its ambitious climate targets for 2030 by the Science Based Targets initiative. In addition, by 2050 Coats will be carbon neutral through accelerating its progress in water and energy reduction, shifting to more renewable energy and responsible effluent treatment as well as through its materials transition.
Coats recently announced that the Innovation Hub – Asia would have a new mission and be re-purposed to focus on the application of biomaterials. The Hub is being renamed Coats Sustainability Hub and is now fully focused on its new mission.
