UNIFI®, Makers of REPREVE®, Commits to Transforming the Equivalent of 1.5 Billion T-Shirts Worth of Textile and Yarn Waste by FY2030 in New Sustainability Snapshot

Rhea-AI Summary

UNIFI, Inc. releases its FY2023 Sustainability Snapshot, highlighting its textile-to-textile recycling ambitions, waste reduction achievements, and future goals. The company aims to transform 1.5 billion T-shirts worth of textile and yarn waste by FY2030, reduce greenhouse gas emissions intensity by 30%, divert 50 billion plastic bottles by 2025, and increase revenue from REPREVE Fiber.

Positive

• UNIFI sets a goal to transform 1.5 billion T-shirts worth of textile and yarn waste by FY2030, doubling its previous achievement.
• The company pledges to reduce greenhouse gas emissions intensity by 30% by FY2030.
• UNIFI aims to achieve zero non-compliant water discharges annually and divert 50 billion plastic bottles by December 2025.
• The company reaffirms its commitment to REPREVE Fiber and reports a 30% revenue progress metric in FY2023.
• UNIFI has reduced landfill waste by 93% at its Central American production site and 55% at its Brazilian production site in the past year.

Negative

• None.

Company affirms textile-to-textile recycling ambitions, waste reduction progress, and future milestones

GREENSBORO, N.C.--(BUSINESS WIRE)-- UNIFI, Inc. (NYSE: UFI) (together with its consolidated subsidiaries, “UNIFI”), makers of REPREVE and one of the world’s leading innovators in recycled and synthetic yarns, today released its Sustainability Snapshot for FY2023. The Snapshot shares impactful updates on UNIFI’s innovative sustainability mission, waste reduction achievements, and future goals. With its release, UNIFI debuted its pioneering T-shirt equivalent metric and set an ambitious textile-to-textile recycling target to transform the equivalent of 1.5 billion T-shirts worth of textile and yarn waste into new products by FY2030.

“Our fourth annual sustainability publication showcases UNIFI’s continuous progress and ongoing commitment to setting and exceeding new sustainability goals," said Eddie Ingle, Chief Executive Officer of Unifi, Inc. “In 2023, we made significant strides in recycling volume, waste reduction, and strategy refinement. We look forward to building upon our goal of making waste useful at UNIFI.”

UNIFI’s FY2023 Sustainability Snapshot highlights include:

• Committed to transforming the equivalent of 1.5 billion T-shirts worth of textile and yarn waste by FY2030, effectively doubling the Company’s achievement of 750 million T-shirt equivalents through FY2023
• Set goal of 30% reduction in Scopes 1 and 2 greenhouse gas (GHG) emissions intensity by FY2030**
• Pledged to achieve zero non-compliant water discharges annually according to local, state, and national regulations or permitting
• Reiterated the commitment to divert 50 billion landfill-bound plastic bottles by December 2025 and announced reaching a milestone of 38 billion bottles in FY2023
• Reaffirmed its commitment to REPREVE Fiber comprising a significant portion of FY2025 revenue and shared 30% FY2023 revenue progress metric
• Reduced landfill waste by 93% in the past year at its Central American production site
• Reduced landfill waste by 55% in the past year at its Brazilian production site

UNIFI’s FY2023 Sustainability Snapshot builds upon the disclosures shared in FY2022 and underscores the Company’s commitment to transparency. The Snapshot has been guided by the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) frameworks.

More information on UNIFI’s commitment to sustainable business practices and progress can be found in the full snapshot.

About UNIFI, Inc.

UNIFI, Inc. (NYSE: UFI) is a global textile solutions provider and one of the world's leading innovators in manufacturing synthetic and recycled performance fibers. Through REPREVE®, one of UNIFI's proprietary technologies and the global leader in branded recycled performance fibers, UNIFI has transformed more than 40 billion plastic bottles to date into recycled fiber for new apparel, footwear, home goods, and other consumer products. UNIFI continually innovates technologies to meet consumer needs in moisture management, thermal regulation, antimicrobial protection, UV protection, stretch, water resistance, and enhanced softness. UNIFI collaborates with many of the world's most influential brands in the sports apparel, fashion, home, automotive, and other industries. For more information about UNIFI, visit www.unifi.com.

*“T-shirt equivalents” refers to the weight of material equal to that of a single polyester T-shirt.
**Scope 1 reflects direct GHG emissions from owned or controlled sources and Scope 2 reflects indirect GHG emissions from purchased electricity. “Intensity” refers to the normalization of our Scopes 1 and 2 GHG emissions against the revenue for our Americas and Brazil business segments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240228646849/en/

Factory PR

repreve@factorypr.com

Source: UNIFI, Inc.

FAQ

What is UNIFI, Inc.'s ticker symbol?

UNIFI

What is UNIFI's goal for transforming textile and yarn waste by FY2030?

UNIFI aims to transform the equivalent of 1.5 billion T-shirts worth of waste by FY2030.

What is UNIFI's target for reducing greenhouse gas emissions intensity by FY2030?

UNIFI aims to reduce greenhouse gas emissions intensity by 30% by FY2030.

What milestone has UNIFI reached in diverting plastic bottles by FY2023?

UNIFI has reached a milestone of diverting 38 billion plastic bottles by FY2023.

How much has UNIFI reduced landfill waste at its Central American production site in the past year?

UNIFI has reduced landfill waste by 93% at its Central American production site in the past year.

What frameworks have guided UNIFI's Sustainability Snapshot?

The Sustainability Snapshot has been guided by the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) frameworks.