The Lenzing Group, the world’s leading supplier of wood-based specialty fibers, has received further recognition of its performance in sustainability. The prestigious rating agency MSCI has upgraded its rating for the Lenzing Group from “A” to “AA” as at September 2021. As a result, Lenzing ranks among the top 6 percent of companies rated in its peer group.
“We strongly believe that the fiber industry will have to change in order to meet the ecological and social demands of the future. The issue of sustainability has been firmly anchored in our strategy for many years and is fundamental to our commercial success. Lenzing is an absolute pioneer in this field and we will continue to be a role model in future”, says Thomas Obendrauf, Chief Financial Officer of the Lenzing Group.
The upgrade to the MSCI ESG rating will also lead to a reduction in Lenzing’s interest expense. Lenzing placed a bonded loan worth EUR 500 mn in November 2019, which is linked to its sustainability performance. In accordance with its commitment under the bonded loan placement, the company will donate the full amount of the interest expense saved thanks to the rating revision to a project it supports.