GlobalData offers a comprehensive analysis of Coats Group, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Coats Group‘s ESG performance. GlobalData’s company profile on Coats Group offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Coats Group, a global industrial thread manufacturer, has set a target for net zero by 2050. The company has set a goal to achieve a 22% reduction in scope 1 and 2 emissions by 2026 and 46.2% reduction by 2030 (2019 base year), while it has set a target to achieve a 33% reduction in Scope 3 emissions by 2030. The company aims to achieve a 33% increase in the water recycling rate by 2026, relative to the baseline established in 2022. Coats Group has established a target to transition to 100% renewable electricity by 2030.
Coats Group has disclosed its emission data in its Sustainability Report 2022. In 2022, following the acquisition of Texon and Rhenoflex, the company reported Scope 1 emissions of 54,072 tCO2e, along with Scope 2 (market-based) emissions of 158,078 tCO2e and Scope 2 (location-based) emissions of 200,060 tCO2e. Prior to this acquisition, the emissions inventory included Scope 1 emissions of 49,959 tCO2e, Scope 2 (market-based) emissions of 157,642 tCO2e, and Scope 2 (location-based) emissions of 195,786 tCO2e. Including the Scope 3 emissions from products and services (513,487 tCO2e), upstream energy (58,664 tCO2e), upstream transportation and distribution (70,233 tCO2e), and other scope 3 emissions (135,199 tCO2e), the total emissions amounted to 985,201 tCO2e.
Coats Group has taken steps to reduce its emissions and achieve its net-zero targets. The company has made investments in effluent treatment plants and technology, totaling millions of dollars. It has also focused on waste management, with a significant percentage of waste being reused or recycled. Coats Group has seen a decrease in waste movement compared to 2018, indicating progress in waste reduction efforts.
In conclusion, Coats Group is committed to achieving net-zero emissions and has set ambitious targets to reduce its carbon footprint. The company has taken steps to reduce its emissions and has made investments in effluent treatment plants and technology. Coats Group has also made progress in waste management, with a significant percentage of waste being reused or recycled. The company's efforts demonstrate its commitment to sustainability and reducing its environmental impact.
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