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HOW WE ANCHOR SUSTAINABILITY
THE JOURNEY TOWARDS OUR 4 SUSTAINABILITY COMMITMENTS
2021 RESULTS
2022 TARGETS
RISK AND COMPLIANCE
2022 Target
Committed Entity
Priority Topic
2021 Result
2025 Target
FIGHT FOR CLIMATE
Carbon equivalent emissions scope 1 & scope 2 Carbon eq. emissions from company vehicles 76 kg CO 2 e/FTE
LTP Group – all countries LTP Group – all countries LTP Group – all countries LTP Group – all countries LTP Group – all countries LTP Garment – LT LTP Garment – VN LTP Furniture – LT LTP Group – all countries
Carbon eq. emissions from electricity consumption Carbon eq. emissions from heating
0 kg 1) CO 2 e/FTE
544 kg CO 2 e/FTE 282 kg CO 2 e/FTE
According to SBTi 1)
The scientific evidence of the devastating impact of climate change on nature and people is undisputable. As a company with global manufacturing operations we are part of the problem, like any other company or organisation. Today the essential thing for us, is to know how much we should reduce our CO 2 e emissions to prevent increasing temperatures above 1.5 ° C. In parallel we are working on identifying all available solutions to reach this reduction target. The only methodology to calculate this reduction amount is provided by The Science Based Target Initiative. In fall 2021, LTP Group committed to submit its carbon equivalent reduction targets in accordance to the SBTi methodology below — 1.5 ° C. Thus, LTP group is listed on SBTi website as a company taking action. The carbon equivalent emissions targets for 2022 and 2025 will be defined in the fall 2022 once they have been reviewed and approved by SBTi. They will be published in our 2022 Sustainability performance report.
In 2021 and 2022, LTP Group entities in Lithuania are sourcing renewable energy through Renewable Electricity Certificates. Going forward, LTP Group will sign power purchasing agreements whenever possible with local renewable power producers. Our objective is to support the development of additional renewable power capacity in the countries where we operate. Carbon equivalent emissions are reported in conformance with the GHG Protocol Corporate Standard, and accordingly all scope 3 emissions are not included. During 2022, we will also assess our 2021 scope 3 carbon equivalent emissions and reduction targets according to the Science Based Target initiative (SBTi) 1) . The full scope 3 emissions will be reported in our 2022 Sustainability performance report published in 2023.
Renewable energy sourcing Electricity consumption MWh / FTE
Defined by energy efficiency assessment in 2022
2.01
2.00
Gas consumption MWh / FTE
1.38
1.35
100%
100%
% of electricity from renewable sources with REC 2)
% of not covered by PPA 3)
0%
0%
87%
100%
% of electricity from renewable sources with PPA 3)
Maximum allowed 3)
N/A
0%
Inhouse transportation & logistic of goods % of new company vehicles being hybrid, or electric N/A
LTP Group – all countries
100% 100%
Energy efficiency % owned buildings energy efficiency assessment & improvements
LTP Group – all countries
N/A
100% N/A
Product carbon footprint on full lifecycle No of customers with product lifecycle CO2e on product invoice N/A
LTP Group – all countries
10
40
Note: 1) For period 2022-2025 carbon neutrality with carbon offsetting. Will be a large portion in 2022 but will decrease over time when actual reduction happens. LTP committed to the SBTi, Link, and will define CO2e reduction targets for 2025 according to its methodology based on science. Targets will be shared in the 2022 annual sustainability report; 2) To account for the reduced CO2e emissions from renewable electricity certificates (REC) they have to meet GHG Protocol quality criteria. In Vietnam, we have not found the possibility yet to source renewable electricity with those certificates; 3) Power Purchasing Agreement, with local restrictions on the share of consumption a company is allowed to cover as per the national regulation.
LTP Group 2021 Sustainability performance report
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