Belgium’s Ontex receives A-rating for transparency on climate action

February 12, 2024 - Belgium

Ontex has received an A-rating for leadership in corporate transparency and performance on climate change for its 2023 contributions. Ontex received the rating among 23,000 companies evaluated by global environmental non-profit Carbon Disclosure Project (CDP), ranking Ontex in the top 6 per cent of evaluated companies.

“I am thrilled to share that Ontex has successfully reduced carbon emissions from its operations by over 50 per cent in just 3 years. Our commitment to sustainability helps both our customers, who are reducing carbon in their supply chains, and our consumers, for generations to come. Together, we are closer to achieving net zero emissions and securing long-term business success,” Gustavo Calvo Paz, CEO of Ontex, said.

Ontex earned it’s A climate action rating by being transparent about how it emits carbon and where it is reducing emissions, and by sourcing more than 90 per cent of the electricity used in its factories worldwide – 100 per cent in its European factories – from renewable sources, the company said in a press release.

Ontex’s climate action efforts are part of the company’s 2030 sustainability strategy, which also includes actions towards driving positive change throughout the supply chain.

This year, Ontex reaffirmed its positive CDP B score for Forests Disclosure, indicating the company’s ability to measure and manage forest-related impacts, risks and opportunities. Ontex sources a range of forest-derived raw materials, from viscose and pulp to wood-based packaging. The company’s internal due diligence system mechanisms help to assess, mitigate and prevent risks associated with deforestation or other unsustainable practices throughout the vulnerable supply chain of these materials. One of Ontex’s key safeguards is to ensure that 100 per cent of wood-based materials are sourced from certified or controlled sources. Year on year, Ontex shows solid progress in increasing the share of certified materials, culminating in over 90 per cent in 2023.

CDP’s annual disclosure process is widely recognised as the gold standard of corporate environmental transparency. Over 25,000 organisations around the world disclosed data through CDP in 2023, with more than 23,000 companies, including listed companies worth two thirds global market capitalisation.