Coats is aligned with several customers on the importance of making sustainability central to the strategy of the organisation. With time the pioneers inspire others in the industry and create a movement.
"Most of the materials we use are synthetic, derived from oil. It is simply not acceptable for us to use this resource and waste it. We must be as efficient as we can be, getting the most out of the raw materials we use, and finding ways that we can reuse or recycle any waste that we do produce. Or finding someone else that can. It makes business sense to be more efficient and buy less virgin materials. Moreover, our customers are asking us about the origins and recyclability of our products as they strive to achieve their sustainability goals.” Adrian Elliott, president, Apparel and Footwear.
Last year, Coats reported on the work it had done to review key areas of focus for the sustainability programme. This included a global materiality assessment to identify the key issues for its business based on relevance to the achievement of our commercial goals and relevance to our stakeholders.
During 2018, Coats went further to develop an ambitious new strategy which will be launched this year, the report stated.
"As we launch our new strategy, including a series of ambitious targets for the next four years, this report summarises the progress we have already made and our plans. And we are in a good position. Last year, we made more thread using less water and energy. We invested in new technology that uses less of the precious resources available to us, while helping ensure waste effluent is clean and meets, and often exceeds, the legal requirements placed upon us," said Rajiv Sharma, group chief executive, said.
To ensure growth, now and in the future, it is important that we use resources efficiently and explore innovative solutions. We will use more sustainable raw materials and reduce our waste, the report said.
"We have further strengthened our management of health and safety, including the launch of our Journey to Zero goal, and continued the development of our leadership and management capability programmes, all of which has been supported by digitisation of our human resources management processes. Our ‘doing the right thing’ programme is well embedded and helps us to make sure all employees are aware of their responsibilities and the high standards and level of conduct we expect. As we pioneer for a sustainable future, I am excited by the opportunities for our business and all its stakeholders," concluded Sharma. (RR)
Fibre2Fashion News Desk – India
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