97.5% of CO2 emissions come from outside own opera- tions. The manufacturing of our products and upstream transportation represents most of the Group’s Scope 3 emissions. In 2024 Scope 3 emissions, were 16,040.4 tCO2e compared to 12,764.8 tCO2e in 2023. The in- crease is due to higher revenue and increased inventory to prepare for future orders. Company growth will lead to increased Scope 3 emis- sions. The Group has in 2024 experienced a 24.6% increase in the emissions associated with the produc- tion of purchased materials compared to 2023. PWT will work with suppliers on adopting energy efficient production methods and implementing renewable en- ergy. Better materials with lower footprint such as or- ganic and recycled materials can have effect on CO2 emissions and from 2023 to 2024 there has been an increase in the use of recycled materials. Emissions from upstream transportation are also in- cluded under Scope 3. This covers transport of pro- ducts from suppliers to PWT warehouse. Transportation accounts for 4.35% of the Groups Scope 3 emissions. In 2024 PWT partnered up with one logistics partner to be part of a programme using low-emission fuel for most of the air freight. However, from 2023 to 2024 emissions from transpor- tation increased by 57%. The increase is mainly driven by the increase in purchase of products and by more use of air freight. While our primary method of transpor- tation is ocean shipping for most of the products, unrest in the Far East caused delays and use of air freight were prioritized to meet expected delivery times. RESPONSIBLY MADE The most sustainable garments are quality products that will last for many years. In recent years PWT has worked to reduce the number of styles and gain a bet- ter quality and durability for each garment. The Group’s premium brands, Bison and Lindbergh Black are a big part of this. Until now, the Group has achieved a 57% reduction in styles. This development is in line with coming EU legislation within the textile industry. Material production accounts for 95.6% of the Groups Scope 3 emissions, based on this year’s climate report. Therefore, to reduce the Group’s environmental foot- print, it is essential to look at how to shift from conven- tional materials and production processes to ones that leave a lower footprint. For this purpose, designers and purchasers are work- ing with suppliers on finding more sustainable materials and production methods. The approach is to cooperate with suppliers on finding the best solution that makes sense on all parameters. This intensified focus has re - sulted in several initiatives, such as focus on using or- ganic cotton, Better Cotton, recycled materials, and better denim production. A relatively large share of the Group’s material use is cotton. Considering cotton production’s negative im- pact on the climate, the local environment, and the bi- odiversity, it is imperative that the textile industry finds more sustainable ways of producing cotton. PWT is a member of Better Cotton to improve cotton farming globally. Better Cotton makes global cotton production better for the people who produce it, bet- ter for the environment it grows in, and better for the ANNUAL REPORT 2024 | PWT GROUP A/S 19
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