OUR COMMITMENT TO FOSTER NEW HABITS AND DRIVE CHANGE IN OUR INDUSTRY
CO-CEO'S Henrik Holmgaard Olsson Jeannett Hvidkjær
We continue to be committed to significantly improving LTP Group’s overall sustainability performance and drive positive change across our industries. In 2021 we established a governance structure, and we committed to ambitious targets for 2025 fostered by a materiality assessment. Through large parts of 2022 LTP Group were challenged by the lasting impact of the pandemic and ongoing disruptions of supply chains as well as the geopolitical uncertainty following the war in Ukraine. The war in Ukraine had a significant impact on the garment division and a re-organizing of the production capacity became a priority. Corporation with Russian and Belarusian production partners were discontinued in 2022. Despite these challenges LTP Group remained true to the four core commitments. The focus, following the anchoring of sustainability as a pillar in the corporate strategy, has been to strengthen each area in the “Sustainability ladder” . 1)
It includes the preparation of the up- coming product passport declaration which takes significant efforts to establish and in LTP Group the work started in 2022 being a priority to support the industry with the need for additional product data. This report will give insight into the achievements in 2022 and the areas of continuous focus and progression. LTP Group's sustainability report concerns the financial year 2022. It forms part of the management report of LTP Group's Annual Report for the year and covers statutory reporting on corporate sustainability as defined by the Danish Financial Statement Act. Tackling the environmental challenges cannot be done by LTP Group alone, collaboration and partnership are key to achieving sustainable solutions, involving employees, customers, and suppliers. Material sourcing is for the majority nominated by the customers and LTP Group does not have direct influence on the material choices.
Still, LTP Group take responsibility for the scope 3 emissions by ensuring data transparency for our customers, suppliers, and other partners to choose new and more sustainable solutions. It comes without saying that the textile industry needs to do more to protect the environment, and every small initiative and action counts. At LTP Group employees are encouraged to focus on a number of initiatives in the daily business as many small changes support the needed daily attention at the manufacturing sites fostering a new tomorrow. Among the small things is adding sensors to light sources, printed paper being reused on the blank side and changing from plastic cups/bottle, to tap water and paper cups. All initiatives change the lifestyle of the employees in LTP Group and bring awareness and inspiration to customers, suppliers and business partners.
Welcome to the Sustainability report for 2022 for LTP Group.
The reporting practice can be found in appendix 4 of this report.
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1) See page 9
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