SOURCE: 3BL Alerts
DESCRIPTION:
Since launching a Stewardship Program in 2008, Tractor Supply Company (NASDAQ: TSCO) has been focused on minimizing its environmental impact while serving its customers. As a process of continuous improvement, this commitment to sustainability has expanded over time to focus on broader environmental, social and governance issues (ESG). Despite the challenges of 2020, Tractor Supply increased transparency and disclosure on its environmental operations, commitment to racial equality, community giving and governance practices for long-term shareholder value creation. The Company has issued its second annual ESG Tear Sheet to highlight the changes and programs in place to positively benefit all key stakeholders – Team Members, customers, communities, vendors and shareholders – and reinforce the Company’s prioritization to be a responsible corporate citizen.
The Company published its first ESG Tear Sheet in 2020 (reflecting 2019) as an extension of its annual Stewardship Report, which was first published in 2013. The 2020 ESG Tear Sheet provides new and updated performance metrics for key areas of performance including energy management, recycling efforts, workforce composition, community involvement and volunteering and corporate governance, among others. At Tractor Supply, the Board of Directors has oversight for the Company’s ESG efforts.
Highlights from the new ESG Tear Sheet include:
Environment
- Reduced energy consumption by 24.8% per sq. ft. from 2015 baseline, exceeding our 2025 target of 25%
- Reduced water withdrawn per employee by 14.8% year-over-year (YOY)
- Completed inaugural climate reporting to CDP and TCFD
- Recycled 435,000 vehicle batteries
- Recycled 102,395 gallons of oil, a 15.6% YOY increase
- Recycled 25,313 tons of cardboard, a 44.2% YOY increase
- Recycled 4,100,000 wood pallets, a 24.2% YOY increase
Social
- Established the Diversity, Equity and Inclusion Council, led by the CEO
- 49% female workforce
- Conducted 478,000+ hours of training including 40,000 hours of unconscious bias training
- Added six weeks of paid parental leave for new family additions for all full-time Team Members
- Certified Great Place to Work: October 2020-2021
- Joined the American Connection Project Broadband Coalition to improve broadband in rural communities
- Donated $12 Million to charitable causes, including the establishment of the Tractor Supply Company Foundation
Governance
- Received perfect ISS Governance Quality Score of 1 (as of April 30, 2021), indicating the highest level of corporate governance quality and transparency
- 67% Diverse Board of Directors (6 members)
- 44% of the Board are women (4 members)
- 33% of the Board are ethnic minorities (3 members)
- 89% of the Board is independent (8 members)
- Recognized by the 20/20 Women on Boards Honor Roll since 2011
Tractor Supply has also announced its commitment to establishing new multiyear goals in the important area of greenhouse gas emission reductions and specific strategic commitments to support and advance underrepresented groups across its workforce, vendors, suppliers and communities later this year. These goals will support Tractor Supply’s commitment to drive positive environmental and social change.
The ESG Tear Sheet leverages global best practices, aligning with metrics from the Sustainability Accounting Standards Board (SASB) standards for the Consumer Goods and the United Nations Sustainable Development Goals (UN SDGs). As part of its focus on transparency, Tractor Supply expanded its reporting to include issuing its inaugural Task Force on Climate-related Financial Disclosure (TCFD) Report in 2020 and submitting data to CDP, the rigorous disclosure system for environmental impacts
To learn more about Tractor Supply’s ESG efforts and view the 2020 ESG Tear Sheet, visit www.Corporate.TractorSupply.com/ESG.
Tractor Supply Company
Contacts:
Mary Winn Pilkington (615) 440-4212
Marianne Denenberg (615) 440-4345
KEYWORDS: Tractor Supply, ReportAlert, ESG
