The DyStar Group has released its 2017-2018 sustainability performance report, which is the first of reports prepared in accordance with the widely used reporting framework – Global Reporting Initiative (GRI) Standards: Core Option.
Into its eighth edition, the report marked the progress of the supplier of colorants, specialty chemicals, and services for the textiles industry. The company has also embarked on the business with food dyes and chemicals through its recent acquisition in the USA.
The report stated that, 2017 marked the seventh year of DyStars’ journey towards reducing the production footprint by 20 percent for every ton of production by the year 2020. This goal encompassed the resources used for production including energy, water, and raw materials as well as addresses their corresponding outputs – greenhouse gas (GHG) emissions, waste, and wastewater. Results across most key performance indicators were positive, with four of the six 2020 targets being successfully met or surpassed.
It is imperative for the entire industry to improve collectively, not individually, and our ability to do so may determine the long-term profitability of the industry as a whole.
In terms of the energy consumption and GHG emission, DyStar is further ahead from its original desired target primarily due to the impacts from three newly acquired production sites. However, intensive efforts are underway to ensure that the company’s less efficient acquisitions are provided the essential support to align with the rest of the company. DyStar is optimistic that all six targets are achievable by 2020.
CEO of DyStar Group, Eric Hopmann stated, “It is imperative for the entire industry to improve collectively, not individually, and our ability to do so may determine the long-term profitability of the industry as a whole.”