Coats publishes 2022 Sustainability Report
- 09 Mar 2023
Coats Group plc, the world’s leading manufacturer in thread and structural components for apparel and footwear, as well as an innovative pioneer in performance materials, has published its 2022 Sustainability Report, showcasing the progress the company has made against its Sustainability Strategy launched in 2019.
Despite the challenges posed by the pandemic, Coats fully achieved three of its six short-term 2022 targets, including a 10% reduction in energy, 25% reduction in waste, and 86% coverage of Great Place to Work certification, and achieved over 90% of its target for the remaining two, water intensity, and effluent quality.
Chris Dearing, Group Sustainability Director, stated: "We are extremely proud of the progress we have made towards delivery of our highly ambitious short-term 2022 targets, with our success underpinned by targeted actions across the last 4 years. We remain focused on our commitment to achieving net-zero in our value chain by 2050, and we are currently ahead of our 2030 Scope 1 & 2 emissions reduction target. Sustainability is at the heart of our business strategy, and we continue to drive momentum towards our ambitious 2026 and 2030 targets, which sit under our 5 strategic sustainability pillars of Energy, Materials, Water, Waste and People."
Coats' next chapter short-term targets for 2026 include:
- 22% reduction in Scope 1 & 2 emissions from a 2022 baseline
- 60% transition to recycled or bio materials
- 33% increase in water recycling rate from a 2022 baseline
- Zero waste to landfill
- 100% ZDHC compliance
- 88% Great Place to Work coverage
- 30% women in leadership roles
The company will continue to accelerate reduction in its Scope 1, 2 & 3 emissions in line with Science Based Target commitments and will transition 70% of its total energy to renewables by 2030. Additionally, Coats will transition its products fully to non-virgin oil-based materials, will enable circularity across the industry and will deliver increased positive social impact as part of its 2030 targets.
Coats has also renewed its commitment to and participation in the United Nations Global Compact, reflecting its commitment to implementing the principles covering Human Rights, Labour, the Environment, and Anti-Corruption across its operations and wider supply chain.
ENDS
For more information contact:
Coats Press Office
communications@coats.com
Notes to Editors
About Coats
Coats is a world leader in thread manufacturing and structural components for apparel and footwear, as well as an innovative pioneer in performance materials. These critical solutions are used to create a wide range of products, including ones that provide safety and protection for people, data, and the environment. Headquartered in the UK, Coats is a FTSE250 company and a FTSE4Good Index constituent. Revenues in 2022 were $1.6bn.
Trusted by the world's leading companies to deliver vital, innovative, and sustainable solutions, Coats provides value-adding products including apparel, accessory and footwear threads, structural components for footwear and accessories, fabrics, yarns, and software applications. Customer partners include companies from the apparel, footwear, automotive, telecoms, personal protection, and outdoor goods industries.
With a proud heritage dating back more than 250 years and spirit of evolution to constantly stay ahead of changing market needs, Coats has operations across some 50 countries with a workforce of over 17,000, serving its customers worldwide.
Coats connects talent, textiles, and technology, to make a better and more sustainable world. Worldwide, there are three dedicated Coats Innovation Hubs, where experts collaborate with partners to create the materials and products of tomorrow. It participates in the UN Global Compact and is committed to Science Based sustainability targets for 2030 and beyond, with a goal of achieving net-zero by 2050. Coats is also committed to achieving its goals in Diversity, Equity & Inclusion, workplace health & safety, employee & community wellbeing, and supplier social performance.