Coats Group plc, the world’s leading manufacturer in thread and structural components for apparel and footwear and an innovative pioneer in performance materials, has been included in the “Europe’s Climate Leaders” list by the Financial Times and Statista. The list acknowledges European companies that have demonstrated a significant reduction in their core emissions intensity.
This accolade is based on Coats’ substantial progress in reducing Scope 1 and 2 greenhouse gas emissions in relation to its revenue, as well as its transparency in reporting Scope 3 emissions that occur within the company’s value chains.
“Our inclusion in the ‘Europe’s Climate Leaders’ list is a reflection of our ongoing commitment to reducing emissions and enhancing sustainability,” said Chris Dearing, Group Sustainability Director. “This recognition underscores our achievements and motivates us to continue striving towards our net-zero targets.”
In 2023, Coats reported a significant reduction in absolute Scope 1 and 2 emissions. The company has made considerable progress in decarbonising its Scope 2 energy, dropping Scopes 1 & 2 emissions intensity on a like-for-like basis by 29% compared to 2022. The percentage of sustainable materials used in Coats products has increased from 25% to 29%.
The Science Based Targets initiative also recently determined that Coats’ long-term targets are aligned with its 1.5°C mitigation pathways for reaching net-zero by 2050 or sooner and officially validated them.
ENDS