Alcantara the Italian manufacturer of the leading luxury alternative to leather, has achieved carbon neutrality for the 14th year in a row according to its recently released annual sustainability report relating to the fiscal year to the end of March 2023.

The report puts the value of the company’s materials produced during the year at €227.5 million, up almost 30% on 2022. Production costs, however, climbed by almost 45% in fiscal 2023 to €168 million, from €116 million in 2022.

The company notes that fiscal 2023 was marked by the slowdown of the Covid-19 pandemic which allowed for a gradual return to normality, but also by the ongoing geopolitical tensions related to Russia’s invasion of Ukraine, which led to high inflation, constraining global trade and resulting in soaring prices for energy and raw materials, especially methane gas – a key element in the company’s production process.

The automotive industry accounts for 75% of Alcantara’s sales, with 10% in fashion and accessories, 6% in interiors, contract, marine and aviation and 4% in consumer electronics.

During the year, the company participated in three major projects in Indonesia, Vietnam and China to off-set approximately 52,000 tons of CO2 emissions that could not be eliminated with current state-of-the-art technology.

Alcantara’s ‘cradle-to-grave’ approach involves the measurement of all CO2 emissions at every stage of its product lifecycle – from raw material and production to product use and end-of-life.

 “Sustainability is the most critical issue of our time,” said Alcantara chairman Andrea Boragno. “It’s a core value deeply rooted in our corporate culture and an important growth driver in the development of our business strategy.”

Going forward, Alcantara will continue to implement initiatives to enhance energy efficiency and reduce emissions while actively exploring new technologies and processes.

The company has recently introduced a range of products partially derived from certified post-consumer recycled polyester and is also accelerating research into end-of-life recycling, including the development of technology to fully recover the polyester in its material.

www.alcantara.com