The AZEK Company® Receives +Vantage Vinyl™ Verification, Demonstrating Leadership Across Three Guiding Principles: Resourc...
July 12 2021 - 4:15PM
Business Wire
The AZEK Company (NYSE: AZEK) ("AZEK" or the “Company”) is
pleased to announce it has successfully met the voluntary
requirements of +Vantage Vinyl™, a first-of-its kind industry-wide
sustainability initiative that engages companies across the entire
U.S. vinyl value-chain.
Companies that showcase the +Vantage Vinyl mark have undergone
verification by third-party GreenCircle Certified to confirm they
are honoring the program’s guiding principles, which focus on
resource recovery, emissions, and health & safety, as well as
fostering collaboration and open communication. The initiative’s
structure ensures that verified companies, like AZEK, are advancing
the sustainability journey of the vinyl industry in alignment with
targeted United Nations Sustainable Development Goals (UN
SDGs).
“At The AZEK Company, we have made it clear that we believe our
success as a business is inextricably linked to our performance on
sustainability initiatives, including the development and expansion
of our innovative plastic recycling programs, and we are committed
to continuous improvement. The +Vantage Vinyl certification
underscores and validates these efforts, and we will display it
proudly,” Jesse Singh, CEO of The AZEK Company, said. “We hope that
in leading by example we can inspire other companies across the
vinyl industry to join us in creating a more sustainable
future.”
To secure the +Vantage Vinyl mark, AZEK has proven that it meets
the requirements outlined by the program’s guiding principles and
has integrated sustainability activities and key performance
indicators required of the initiative into the business. Many of
these activities were outlined in AZEK’s first Environmental,
Social and Governance (ESG) report, published in May 2021, which,
among other things, include:
- Details on AZEK’s FULL-CIRCLE PVC Recycling™ program, the first
of its kind;
- AZEK’s commitment to use one billion pounds of recycled
material in the production of its products annually by the end of
2026;
- Results of a peer-reviewed Life Cycle Assessment (LCA), which
showed that AZEK’s leading TimberTech® decking products outperform
sustainably harvested treated-pine decking on a 100-year total
Global Warming Potential basis; and
- Formalization of board-level oversight of sustainability and
ESG initiatives, as well as a commitment to integrate ESG
performance into management’s annual incentive plan.
+Vantage Vinyl is a sustainability initiative of the Vinyl
Sustainability Council (VSC), a self-funded business council
advancing sustainability in the vinyl industry. It is the only
sustainability initiative that allows participation from all
companies within the entire vinyl value chain with U.S. operations,
ranging from raw material manufacturers and suppliers to final
product manufacturers and retailers.
“Congratulations to The AZEK Company for their commitment to
sustainable business practices as represented in their verification
of meeting the requirements of +Vantage Vinyl,” Jay Thomas, VSC
Executive Director, said. “Continuous improvement of sustainability
is a critical initiative of the vinyl industry. By verifying
through +Vantage Vinyl, The AZEK Company has demonstrated its
leadership in advancing the sustainability of its company and the
entire industry. We look forward to our continued collaboration and
partnership in the +Vantage Vinyl program.”
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading
designer and manufacturer of beautiful, low maintenance and
environmentally sustainable outdoor living products, including
TimberTech® decking and Versatex® and AZEK Trim®. Consistently
recognized as the market leader in innovation, quality and
aesthetics, products across AZEK’s portfolio are made from up to
100% recycled material and primarily replace wood on the outside of
homes, providing a long-lasting, eco-friendly, and stylish solution
to consumers. Leveraging the talents of its nearly 1,700 employees
and the strength of relationships across its value chain, The AZEK
Company is committed to accelerating the use of recycled material
in the manufacturing of its innovative products, keeping millions
of pounds of waste out of landfills each year, and revolutionizing
the industry to create a more sustainable future. Headquartered in
Chicago, Illinois, the company operates manufacturing facilities in
Ohio, Pennsylvania and Minnesota, and recently announced a new
facility will open in Boise, Idaho. For additional information,
please visit azekco.com.
About the Vinyl Sustainability Council
The Vinyl Sustainability Council (VSC), founded in 2016 in
partnership with the Vinyl Institute, is a council created to
advance the vinyl industry’s efforts in addressing sustainability.
The VSC is a collaborative platform for companies, organizations
and other industry stakeholders to come together to create a
sustainable development path for the industry. For more
information, please visit
https://vantagevinyl.com/vinyl-sustainability-council/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains or refers to certain forward-looking
statements within the meaning of the federal securities laws and
subject to the "safe harbor" protections thereunder.
Forward-looking statements are statements about future events and
are based on our current expectations. These forward-looking
statements may be identified by the words “believe,” “hope,”
"expect," "intend," "will," "target," “anticipate,” "goal" and
similar expressions. Our forward-looking statements include,
without limitation, statements with respect to our ability to meet
the future targets and goals we establish and the ultimate impact
of our actions on our business as well as the expected benefits to
the environment, our employees, the communities in which we do
business or otherwise. The Company bases its forward-looking
statements on information available to it on the date of this
release, and undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of changed
circumstances, new information, future events or otherwise, except
as may otherwise be required by law. Actual future events could
also differ materially due to numerous factors that involve
substantial known and unknown risks and uncertainties including,
among other things, the risks and uncertainties set forth under
"Risk Factors" and elsewhere in the Company's reports on Form 10-K
and Form 10-Q and the other risks and uncertainties discussed in
any subsequent reports that the Company files with the Securities
and Exchange Commission from time to time. Although we have
attempted to identify those material factors that could cause
actual results or events to differ from those described in such
forward-looking statements, there may be other factors that could
cause actual results or events to differ from those anticipated,
estimated or intended. Given these uncertainties, investors are
cautioned not to place undue reliance on our forward-looking
statements.
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Amy Widdowson (650) 597-7132 AZEKquestions@zenogroup.com
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