Lippert Issues Inaugural Corporate Sustainability Report
13 Januar 2022 - 1:00PM
Business Wire
LCI Industries (NYSE: LCII), which, through its wholly-owned
subsidiary, Lippert Components, Inc. ("Lippert"), supplies,
domestically and internationally, a broad array of highly
engineered components for the leading original equipment
manufacturers ("OEMs") in the recreation and transportation product
markets, and the related aftermarkets of those industries, today
issued its inaugural corporate sustainability report (CSR Report).
This report is an important milestone in Lippert’s sustainability
management, setting the base on environmental, social, and
governance (ESG) topics toward continual and long-term
improvement.
“Our commitment to good corporate citizenship and reporting on
our efforts is a natural progression for Lippert. The increasing
consideration of ESG is very aligned with our corporate values, our
culture, and the consumers in our outdoor recreation industry.
Building and enhancing our reporting capabilities will drive
ongoing tracking of our performance allowing us to keep our
stakeholders up-to-date on our sustainability progress,” said Jason
Lippert, President and CEO of Lippert. “Our growth and recent
innovations along with our increasing focus on ESG will mean our
Lippert team members, their families, and our customers will be
able to better enjoy the communities where we live, work, and play,
long into the future.”
Report Highlights:
- Lippert has expanded the Board of Directors’ oversight on ESG
topics.
- Lippert is releasing material information in line with the
Sustainable Accounting Board Standards (SASB) standard for the
first time.
- Lippert has successfully transformed its employee culture,
reflected in a substantial reduction in its attrition rate from
120% in 2017 to 28% in 2019 and 31% in 2021.
- Lippert is replacing conventional energy with solar at seven
facilities, which have produced 8.75GwH to date on a combined
basis, the equivalent of preventing the GHG emissions of 1,349
passenger vehicles driven for a year.
- Lippert team members and their families have dedicated more
than 500,000 hours to more than 2,000 charitable causes since
2017.
- Lippert has updated its Code of Conduct, Whistleblower, and
Conflict Minerals policies.
The CSR Report is aligned with the SASB disclosure framework and
shares the first released table, a standard Lippert adopted due to
its focus on materiality. SASB is an independent standards-setting
organization dedicated to enhancing the efficiency of the capital
markets by fostering high-quality disclosure of financially
material sustainability information that meets investor needs. In
alignment with SASB’s Sustainable Industry Classification System™
(SICS™), LCI Industries’ 2020 SASB index references the framework
for the Transportation Sector: Auto Parts industry and the Consumer
Goods Sector: Building Products and Furnishings.
“The Lippert Board of Directors has welcomed ESG oversight as
the issues added to our charge are appropriate and modern
considerations for a sustainable business. The SASB-aligned report
captures the most material ESG topics for our company and is a
standard that was recommended by investors,” says Tracy D. Graham,
Lippert Board of Directors Chair.
Lippert will periodically update its ESG activity on its
website, and will release its calendar year 2022 report in 2023. To
access the 2021 Lippert Corporate Sustainability Report, please
visit www.lci1.com/sustainability.
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert,
supplies, domestically and internationally, a broad array of highly
engineered components for the leading OEMs in the recreation and
transportation product markets, consisting primarily of
recreational vehicles and adjacent industries, including buses;
trailers used to haul boats, livestock, equipment, and other cargo;
trucks; boats; trains; manufactured homes; and modular housing. The
Company also supplies engineered components to the related
aftermarkets of these industries, primarily by selling to retail
dealers, wholesale distributors, and service centers. Lippert's
products include steel chassis and related components; axles and
suspension solutions; slide-out mechanisms and solutions;
thermoformed bath, kitchen, and other products; vinyl, aluminum,
and frameless windows; manual, electric, and hydraulic stabilizer
and leveling systems; entry, luggage, patio, and ramp doors;
furniture and mattresses; electric and manual entry steps; awnings
and awning accessories; towing products; truck accessories;
electronic components; appliances; air conditioners; televisions
and sound systems; and other accessories. Additional information
about Lippert and its products can be found at www.lippert.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220113005188/en/
Brian Hall, CFO, (574) 535-1125, LCII@lci1.com
LCI Industries (NYSE:LCII)
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