The Toro Company Releases 2022 Sustainability Report
15 Juni 2023 - 2:30PM
Business Wire
Progress towards multi-year sustainability
goals highlighted and materiality assessment confirms ESG
priorities
The Toro Company (NYSE: TTC) today released its Sustainability
Report for fiscal 2022, highlighting progress made in support of
its strategic priorities, advancements in new technologies, and
efforts to foster a more diverse, equitable and inclusive
workplace. The report also details the results of a materiality
assessment conducted in 2022 to confirm the company’s
environmental, social and governance (ESG) priorities and determine
key areas of focus for the enterprise’s short and long-term
sustainability journey. The full report can be found at
www.thetorocompany.com/sustainability.
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The Toro Company releases 2022
Sustainability Report highlighting progress made in support of its
strategic priorities, advancements in new technologies, and efforts
to foster a more diverse, equitable and inclusive workplace.
(Graphic: Business Wire)
“The commitment to advancing our sustainability goals and
helping our stakeholders achieve theirs has never been stronger at
The Toro Company,” said Richard M. Olson, chairman and chief
executive officer. “Sustainability is at the heart of how we
innovate and is ingrained in our culture of investing in our
people, serving our customers, and giving back to our communities.
We are excited to share our progress and provide updates on the
latest advancements in our sustainability journey. We continue to
build momentum and aspire to keep driving meaningful change for our
people and for our planet.”
Through its Sustainability Endures initiative, TTC strives to
strengthen its environmental and societal commitments through its
teams, solutions and operations to make outdoor environments more
beautiful, productive and sustainable. Comprised of four key
pillars – People, Products, Process and Planning – this framework
guides TTC’s strategic actions and performance goals to promote a
future of sustainable innovation and growth. The report provides
detailed progress and metrics related to the previously identified
company goals:
- Increase battery and hybrid product sales to at least 20% of
total adjusted net sales (motorized product sales) by fiscal
2025.
- Reduce absolute Scope 1 and 2 greenhouse gas emissions by at
least 15% by fiscal 2025 as compared to fiscal 2019.
- Increase the number of women and racial and ethnic minorities
in leadership positions by at least 20% by fiscal 2025 as compared
to fiscal 2021.
As momentum builds around the company’s Sustainability Endures
performance goals, TTC remains committed to accelerating profitable
growth, achieving unmatched operational excellence, and empowering
its people. The following are a few accomplishments and initiatives
from fiscal 2022:
- Launched first employee resource group (ERG), the Women’s
Initiative Network, which provides an inclusive forum for support,
mentorship and development.
- Administered Environmental, Health and Safety training with a
completion rate above 90% of our global manufacturing and
distribution teams.
- Established a new partnership with the Atlanta University
Center Consortium’s Dual Degree Engineering Program to expand
opportunities for Black students to pursue careers in
engineering.
- Recognized for the eighth consecutive year by the U.S.
Environmental Protection Agency with a 2022 WaterSense® Excellence
Award for promoting water efficiency and conservation.
- Introduced a new Supplier Excellence Program, which classifies
suppliers using selected criteria, including cost, quality,
delivery and ESG performance to strengthen the resiliency of the
TTC supply chain.
- Through the Land. Water. Thrive. initiative in partnership with
iDE, TTC employees across global locations brought their skills and
expertise to Zambia to help address water challenges faced by local
smallholder farmers and provide education on the benefits of
sustainable drip irrigation to increase crop yields.
- Expanded TTC’s Monitoring, Targeting and Reporting program that
measures energy, water use and waste for all global manufacturing
facilities, and established baseline metrics to guide reduction
strategies.
The full sustainability report, which includes disclosures
consistent with the Sustainability Accounting Standards Board
(SASB) standard reporting framework, can be found at:
www.thetorocompany.com/sustainability.
About The Toro Company
The Toro Company (NYSE: TTC) is a leading worldwide provider of
innovative solutions for the outdoor environment including turf and
landscape maintenance, snow and ice management, underground utility
construction, rental and specialty construction, and irrigation and
outdoor lighting solutions. With net sales of $4.5 billion in
fiscal 2022, The Toro Company’s global presence extends to more
than 125 countries through a family of brands that includes Toro,
Ditch Witch, Exmark, Spartan Mowers, BOSS Snowplow, Ventrac,
American Augers, Trencor, Pope, Subsite Electronics, HammerHead,
Radius HDD, Perrot, Hayter, Unique Lighting Systems, Irritrol, and
Lawn-Boy. Through constant innovation and caring relationships
built on trust and integrity, The Toro Company and its family of
brands have built a legacy of excellence by helping customers work
on golf courses, sports fields, construction sites, public green
spaces, commercial and residential properties and agricultural
operations. For more information, visit www.thetorocompany.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230615299278/en/
Investor Relations Jeremy Steffan Director, Investor
Relations (952) 887-7962, jeremy.steffan@toro.com Media
Relations Branden Happel Senior Manager, Public Relations (952)
887-8930, branden.happel@toro.com
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