28 January 2021: Coats is proud to announce it has become a member of the Ellen MacArthur Foundation Network, which develops and promotes the idea of a circular economy.
Coats is joining a group of the world’s leading and most influential organisations, brought together by the Ellen MacArthur Foundation to demonstrate how the transition to a circular economy can be accelerated.
A circular economy is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. It is built on renewable energy and materials. Business models, products and materials are designed to increase use and reuse, replicating natural systems, where nothing becomes waste and everything has value. The Ellen MacArthur Foundation Network is leading the transition to a circular economy which represents systemic change.
Rajiv Sharma, Group Chief Executive, Coats, said: ‘Sustainability is core to our strategy at Coats. Becoming an Ellen MacArthur Foundation Network member means we can join the conversation on the circular economy – both to share our expertise and to learn from others. Together, through organisations like this, we can accelerate change that makes a bigger difference for us, our customers and the industries in which we operate.’
Coats developed Epic EcoVerde, the world’s first 100% recycled premium sewing thread and continues to develop a range of products which are made from recycled materials as a stage towards full circularity. It is also designing products to help facilitate circular processing within the textile garment industry.
Joe Murphy, Network Lead, Ellen MacArthur Foundation, said: ‘We are delighted to welcome Coats to the Foundation’s Network. As a Network member, they will need to lead the transition to a circular economy. Their circular design work, particularly the development of threads made from recycled materials, is a good start and we look forward to supporting them as they scale their ambitions.’
As an Ellen MacArthur Foundation Network member, Coats will be joining events, workshops and other collaborative activities. It will be looking to how it can work with the textile industry, and also other industries within which it operates, to make products to be used more, made to be made again and made from safe and recycled or renewable inputs.
In 2018 Coats launched its sustainability strategy with a series of targets for 2022 in order to accelerate its progress towards a more sustainable future. Five priority areas were identified: water, energy, effluent and emissions, social and living sustainably. Coats is a constituent of the FTSE4Good Index Series and a participant in the UN Global Compact. It is fully committed to the UN Global Compact Principles on Human Rights, Labour, the Environment and Anti-Corruption, and continues to progress the implementation of these Principles in operations and across its supply chain. It also identified the most relevant UN Sustainable Development Goals (SDGs) to its business operations and will continue to ensure that its activities are contributing towards the achievement of its sustainability goals.
For further information go to our Sustainability section.
ENDS