Singapore's DyStar publishes sustainability report for FY23-24

DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, has published its Integrated Sustainability Report for FY2023/24. For the past 14 years, DyStar has formally reported on its sustainability performance in accordance with the Global Reporting Initiative (GRI) Standards. This report also adopts the Integrated Reporting <IR> framework, which outlines the company's environmental, social, and governance (ESG) practices through the lens of six major capitals.

Despite a year of change, DyStar has remained resilient in its commitment to Sustainability.

Mr. Xu Yalin, managing director and president of DyStar Group said, “In FY2023, DyStar capitalized on growth momentum and embraced strategic changes. We are pleased to report, DyStar is on track to meet our 2025 targets. Today, DyStar remains committed to enhancing our environmental performance and seeking innovative solutions to address future challenges, thereby creating long-term value for all our stakeholders and the global supply chain.”

DyStar has successfully demonstrated the effectiveness of its strategy in the latest report. For instance, our efforts in implementing energy-efficient initiatives across its operations have started to yield credible results. DyStar’s Scope 1 and Scope 2 emissions totaled 42,084 tCO2e, representing a 67% decrease from 2011’s baseline year and a 26% decrease compared to FY2022. Scope 3 accounted for 8.2% of DyStar’s total emissions profile, with over 80% primarily stemming from the transportation of goods and services.

In terms of energy management, the Group has increased its use of renewable energy by 20%. Additionally, several energy conservation initiatives have been implemented as part of a concerted effort to reduce energy consumption globally.

Operationally, there have been several improvements to procedures aimed at boosting water efficiency and achieving cost savings at all manufacturing sites.

Wastewater discharge was reduced by 37%, improving the intensity level to 8.04 m³ per ton of production compared to 8.71 m³ per ton the previous year. This improvement is also partially due to some of our sites operating under a “Zero Liquid Discharge Scheme” mandated by local authorities.

Key highlights of FY2023 include: 

- Participated at ITMA Milan, where we introduced a new range of bio-based DyStar products, dyes and auxiliaries containing renewable feedstock, as well as the Eco-Advanced Indigo Dyeing process. 

- Recognition by the Institute of Public & Environmental Affairs (IPE), achieving second place on IPE’s Green Supply Chain Corporate Information Transparency Index (CITI).

- Celebrating diversity and inclusivity through global campaigns.

As we move towards a low-carbon future, our decarbonization strategy roadmap will be crucial in supporting DyStar’s efforts to improve productivity and optimize cost in the name of Sustainability.

The report outlines DyStar’s progress on its sustainability agenda and key material topics.

Fibre2Fashion News Desk (HU)