Luxury alternative leather manufacturer, Alcantara, proudly announced its 14th consecutive year of carbon neutrality in its latest sustainability report for the fiscal year ending March 2023. Despite a 30% surge in materials production to €227.5 million, rising geopolitical tensions and inflation, the company remains steadfast in its commitment to environmental responsibility.
The report highlighted a 45% increase in production costs, reaching €168 million, attributed to global challenges stemming from Russia’s invasion of Ukraine and the lingering impacts of the Covid-19 pandemic. Alcantara’s core market, the automotive industry, comprising 75% of its sales, faced disruptions, yet the company navigated through with resilience.
In response to the heightened CO2 emissions due to geopolitical and economic challenges, Alcantara engaged in three major offset projects in Indonesia, Vietnam, and China, compensating for approximately 52,000 tons of emissions. The company’s ‘cradle-to-grave’ sustainability approach meticulously measures emissions throughout the product lifecycle.
Andrea Boragno, Chairman of Alcantara, emphasized, “Sustainability is the most critical issue of our time.” He underscored its integral role in the company’s culture and business strategy, driving growth and innovation.
Looking ahead, Alcantara remains dedicated to enhancing energy efficiency, reducing emissions, and embracing new technologies. The introduction of products derived from certified post-consumer recycled polyester and intensified research into end-of-life recycling mark the company’s proactive stance towards sustainable practices.
Alcantara’s unwavering commitment to carbon neutrality amidst industry challenges positions it as a leader in sustainable luxury, paving the way for a future where environmental responsibility and innovation coalesce.