Our Strategy
Sustainability Outlook In March 2022, the EU strategy for sustainable and circular textiles was adopted, which implements the commitments of the European Green Deal, the Circular Economy Action Plan and the European industrial strategy. For LTP Group, this signifies a progression towards upcoming legislation. First upcoming is Corporate Sustainability Reporting Directive (CSRD) followed by Corporate Sustainability Due Diligence Directive (CSDDD) and Eco-design for Sustainable Products Regulation (ESPR). Accordingly, we are proactively preparing for the future, ensuring timely compliance. CSRD was adopted in July 2023, and we have already initiated planning for its implementation, anticipating stakeholder engagement in a double materiality assessment.
While CSDDD awaits formal adoption, ESPR for textiles remains to be defined, a process in which we participate in though our engagement with Danish Fashion and Textile (DM&T).
As we prepare, we remain actively involved with our customers to ensure that we meet and exceed their expectations and needs. In 2024, within the Garment Division, we will focus on obtaining the Global Recycling Standard certification – GRS certification – starting in Ho Chi Minh, Vietnam, and expanding throughout Europe. This initiative will enable our customers to have their products GRS certified, providing them with more sustainable options. Maintaining our certifications and commitments is a significant achievement, especially as the requirements continue to evolve. In 2023, we achieved our first FSLM Higg Index (Higg Facility Social & Labor Module) verification through an assessment in Ho Chi Minh, Vietnam. Furthermore, our production facility in Saltillo, Mexico, obtained the FSC certification and initiated preparations for ISO 9001 certification in 2024.
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