Coats aims to source renewable energy wherever that is feasible and is looking to expand its renewable energy generation which has grown from virtually zero to 28% in the last six years. There is already solar generation capacity at its Patrick Yarn Mill site in North Carolina, US and at Ambas, Southern India, which also has a biomass-based steam boiler.
“In the recently published Global Risk Report, produced by the World Economic Forum, three of the top five global risks related in some way to changes in our climate. As a global manufacturing business, we have a responsibility to do what we can to reduce the contribution we make by using less energy from fossil fuels and investing in alternative, renewable forms of energy such as solar projects on-site where practicable, biomass boilers using renewable sources and purchasing a higher percentage of our power from renewable energy providers.
Moreover, energy represents a significant cost to our business and energy prices continue to rise. For example, the costs of electricity have increased by some 45% across industrialised nations over the past twenty years. To remain competitive, we must continue to deliver operational excellence on energy while building resilience into our business by exploring future sources of the energy we need.”
Kevin Finn President, Business Operations