- Establishes Target to Reduce Carbon Emissions by 20% by 2025
and 50% by 2030
- Commits to Net Zero Emissions Across All Operations by
2040
- Sets 5-year Diversity, Equity and Inclusion Goals
- Marks Fourth Consecutive Year of Inclusion in the FTSE4Good
Index
Tractor Supply Company (NASDAQ: TSCO), the largest rural
lifestyle retailer in the United States, today announced new,
robust goals to further reduce carbon emissions from its operations
as well as new diversity, equity and inclusion goals (DE&I) as
part of the Company’s longstanding commitment to its environmental,
social and governance (ESG) journey of sustainability and
stewardship.
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the full release here:
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“At Tractor Supply, we are a purpose-driven company. As such, we
are proud to announce we are accelerating our progress towards
becoming more sustainable with new targets for further reducing
carbon emissions across our operations and the establishment of
tangible goals for our DE&I practices. These new goals are
meaningful to our business and are designed to drive positive
environmental and social impact within Tractor Supply and our
communities. Today’s announcement is a natural extension of our
Mission and Values in action as we work to help ensure a
sustainable future for all our stakeholders,” said Hal Lawton,
President and Chief Executive Officer of Tractor Supply.
Updated Goals to Reduce Carbon
Emissions
After exceeding initial carbon reduction goals set in 2018,
Tractor Supply is setting new absolute carbon reduction goals to
further reduce emissions from its operations by 20% by 2025 and by
50% by 2030 from its 2020 baseline. The Company is also committing
to achieving net zero emissions across all operations by 2040.
The new targets announced today are the next chapter of the
Company’s journey to play its part in addressing climate change. In
December 2020 (for the reporting year 2019), Tractor Supply
announced that it had reduced carbon emissions from its operations
by 29% on a per square foot intensity basis (compared to its 2015
baseline), five years ahead of plan and surpassing its initial
target of 25%. As of the release of the Company’s 2020 ESG Tear
Sheet in April 2021, the Company had reduced carbon emissions from
its operations by 34.8% compared to the 2015 baseline, while at the
same time growing comparable store sales by 23.1%.
In this next phase of its sustainability journey, Tractor Supply
will increase efforts to procure renewable energy, continue
investments in energy efficiency and cleaner technologies, avoid
future emissions through better design of both stores and
distribution centers, and enhance its Scope 3 focus with greater
transparency and reduction efforts, including new vendor engagement
to drive down value chain emissions. As sustainability becomes even
more imbedded in Tractor Supply’s operations and strategy, the
Company looks forward to establishing further commitments and
reporting on progress.
New Diversity, Equity and Inclusion
Goals
Tractor Supply firmly believes in promoting an equitable,
accessible and inclusive culture built on its Mission and Values.
The Company is establishing comprehensive 5-year diversity, equity
and inclusion goals to support and advance underrepresented groups
across its workforce, vendors, suppliers and communities. This
initiative includes the following goals, with the baseline from
2021 and achievement of the goals by 2026:
- Double the number of stores where Team Members mirror the
communities it serves,
- Increase People of Color at the manager level and above by
50%,
- Increase spending with diverse suppliers by 35% and
- Increase commitment to funding programs and education for Black
and African Americans by 30%.
Over the last 20 months, the Company has made substantial
progress in its DE&I strategy and efforts, including
establishing a DE&I council led by the CEO and a DE&I
committee; providing training on unconscious bias for 40,000 Team
Members; providing parental leave for full-time Team Members
regardless of how the child enters the home; expanding the
diversity of the Company’s Board of Directors, which now includes
four women and three ethnic minorities; achieving a goal of three
women on its Executive Committee; and founding four new Team Member
engagement groups (TMEGs) for a total of seven TMEGs.
In recognition of its strong ESG practices, Tractor Supply
announced it was recently named to the FTSE4Good index for the
fourth consecutive year. For more information on Tractor Supply’s
ESG efforts and sustainability initiatives, please visit the
Company’s website at IR.TractorSupply.com/ESG and its 2020 ESG Tear
Sheet. For more information on Tractor Supply’s new sustainability
goals, please visit IR.TractorSupply.com/ESGGoals.
About Tractor Supply
Company
Tractor Supply Company (NASDAQ: TSCO), the largest rural
lifestyle retailer in the United States, has been passionate about
serving its unique niche, targeting the needs of recreational
farmers, ranchers and all those who enjoy living the rural
lifestyle, for more than 80 years. Tractor Supply offers an
extensive mix of products necessary to care for home, land, pets
and animals with a focus on product localization, exclusive brands
and legendary customer service for the Out Here lifestyle. With
more than 45,000 Team Members, the Company’s physical store assets,
combined with its digital capabilities, offer customers the
convenience of purchasing products they need anytime, anywhere and
any way they choose at the everyday low prices they deserve. At
June 26, 2021, the Company operated 1,955 Tractor Supply stores in
49 states, a customer mobile app and an e-commerce website at
www.TractorSupply.com.
Tractor Supply Company also owns and operates Petsense, a
small-box pet specialty supply retailer focused on meeting the
needs of pet owners, primarily in small and mid-size communities,
and offering a variety of pet products and services. At June 26,
2021, the Company operated 174 Petsense stores in 23 states. For
more information on Petsense, visit www.Petsense.com.
To stay up to date on all things for Life Out Here, follow
Tractor Supply on Facebook, Instagram and Twitter.
Forward-Looking
Statements
This release contains certain statements, including statements
relating to our sustainability, stewardship, carbon emission and
DE&I related ESG priorities, targets, estimates, projections,
goals, commitments, and expected results, and the assumptions upon
which those statements are based, that are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, the Securities Act of 1933, and the Securities
Exchange Act of 1934. These forward-looking statements may also be
identified by words such as “will,” “believe” “projections”
“expect,” “estimate,” “strategy,” “future,” “plan,” “goal,"
“target,” and similar expressions. Forward-looking statements are
made and are based on then-current expectations and assumptions as
of the date they were made (or such other specified date), which
are subject to risks and uncertainties. Actual results and outcomes
may differ materially from what is sought, our historical results
or from current expectations expressed or implied in the
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. The Company undertakes no obligation to
update or revise any forward-looking statements, whether because of
new information, future events, or otherwise, except as required by
law.
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Tractor Supply Company Mary Winn Pilkington (615)
440-4212 Marianne Denenberg (615) 440-4345
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