Coats ranked in the top 5% within the ICB Supersector - Industrial Goods & Services
- 10 Oct 2022
Coats’ further index progression recognises the company’s ongoing commitment to achieving ambitious sustainability targets
Four years after Coats Group plc was first included in the FTSE4Good Index, the world’s leading industrial thread manufacturer has now been ranked in the top 5% within the ICB Supersector - Industrial Goods & Services that recognises good sustainability practices. The FTSE4Good Index Series is a global responsible investment index designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. Coats entered the index in 2018 and has improved its position in each subsequent year to be ranked in the top 5% within the Industry Classification Benchmark (ICB) peer group Industrial Goods & Services, which consists of 353 companies, this October.
Coats launched their sustainability strategy in 2019 with five pillars (Water, Energy, Effluent, Social and Materials) linked to seven UN Sustainable Development Goals. The company has already delivered on its energy reduction and employee engagement targets and continues to make strong progress across the other target areas. Looking forward, Coats has committed that 70% of their energy will be renewable by 2030 with no new oil-based materials used by then.
Rajiv Sharma, Group Chief Executive, Coats said: ‘We are enormously proud that our continued focus on sustainability has been recognised by FTSE4Good. The increase in our overall ESG ratings is a testament to the values and strategy of our 17,000 employees around the world, who have consistently worked to support our sustainable business practices.’
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ENDS
For more information contact:
Ellen Johnson, Director of Brand and Communications
Ellen.Johnson@coats.com
M: +44 (0) 7721 237884
Notes to Editors
About Coats
With over 250 years of heritage, Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of over 17,000 people across six continents. Revenues in 2021 were US$1.5bn.
Coats provides complementary and value-adding products, services and software solutions to the apparel and footwear industries. It also applies innovative techniques to develop high technology performance materials threads, yarns, fabrics and composites in areas like personal protection, telecoms, energy, transportation, and household and recreation.
Headquartered in the UK, Coats is a constituent of the FTSE 250 and FTSE4Good Index Series. It is a participant in the UN Global Compact, a member of the Ellen MacArthur Foundation, has approved short term Science Based Targets to 2030 and is committed to developing a long-term target to reach net-zero emissions by 2050, the highest level of ambition on climate change under the Science Based Target initiative.
The pioneering history and innovative culture of Coats enable the delivery of its purpose to connect talent, textiles and technology to make a better and more sustainable world.