Beacon Releases Annual Corporate Social Responsibility Report

Rhea-AI Summary

Beacon (Nasdaq: BECN) has released its 2023 Corporate Social Responsibility (CSR) Report, highlighting significant progress in environmental and social initiatives. The report details Beacon's efforts to halve emissions intensity by 2030, reduce Scope 1 and 2 greenhouse gas emissions through investments in renewable energy, and disclose metrics on waste, energy usage, and fuel consumption.

Additionally, the report includes policies and investments aimed at fostering a respectful and safe workplace, improving safety performance over the past four years, and maintaining governance that ensures integrity and transparency. Beacon's President and CEO Julian Francis emphasized the importance of these values in achieving the company's Ambition 2025 strategy.

Positive

• Progress towards halving emissions intensity by 2030.
• Investments in renewable energy to reduce Scope 1 and 2 emissions.
• Detailed disclosure of environmental metrics including waste, energy usage, and fuel consumption.
• Policies to foster a respectful workplace and commitment to human rights.
• Improving safety performance data over the past four years.
• Governance structure ensuring integrity, accountability, and transparency.

Negative

• The report does not mention specific financial benefits or savings from the CSR initiatives.
• Lack of detailed financial impact or cost related to the environmental investments.
• No information on how the CSR initiatives have directly affected stock performance or investor returns.

Demonstrates impact of company values on Ambition 2025

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) (the “Company”) announced today that it has released its 2023 Corporate Social Responsibility (CSR) Report. This year’s report demonstrates our commitment to action and transparency on important environmental and social topics driven by the Company’s values.

“The past year has been a time of growth for Beacon, not only in terms of our geographic footprint and service offerings, but also in our determination to build better for our stakeholders. Our 2023 CSR Report highlights that a strong, values-based culture is not only the outcome of our Ambition 2025, but also a part of what makes the execution of this strategy possible,” said Julian Francis, Beacon’s President and CEO. “By Putting People First, Making Every Day Safer, and Doing the Right Thing for our team members, the environment, and our communities we are building a winning culture and progressing on our CSR journey.”

In this year’s report we proudly:

Environmental

Social

Report three years of progress towards our goal of halving our emissions intensity by 2030 Outline our scope 1 and 2 greenhouse gas emissions and our efforts to reduce those emissions by investing in renewable energy Disclose environmental footprint metrics, including: waste, waste-diversion, energy usage, and fuel consumption Add disclosures informed by the Sustainability Accounting Standards Board (SASB) Multiline and Specialty Retail and Distributors Standard

Share our People First Policy where we commit to fostering a culture with deep respect for the human rights of all individuals Explain investments in our employees and communities to help them reach their full potential Detail improving safety performance data over the previous four-year period Discuss how our governance structure upholds integrity, accountability, and transparency across all aspects of our business

The Company’s full 2023 CSR Report is available at: becn.com/csr-report

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly-traded specialty distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 550 branches throughout all 50 states in the U.S. and 7 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240531960273/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets and Treasurer

Binit.Sanghvi@becn.com

972-369-8005

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

Jennifer.Lewis@becn.com

571-752-104

Source: Beacon

FAQ

What did Beacon report in its 2023 CSR Report?

Beacon reported progress towards halving emissions intensity by 2030, reducing Scope 1 and 2 greenhouse gas emissions, and detailed environmental footprint metrics. The report also covers the company's social policies and governance structure.

How is Beacon (BECN) reducing its greenhouse gas emissions?

Beacon is reducing its greenhouse gas emissions by investing in renewable energy and focusing on reducing Scope 1 and 2 emissions.

What are the key environmental metrics disclosed by Beacon?

Beacon disclosed metrics on waste, waste-diversion, energy usage, and fuel consumption.

What social initiatives are highlighted in Beacon's 2023 CSR Report?

The report highlights Beacon's People First Policy, investments in employees and communities, and improving safety performance data.

How does Beacon ensure governance integrity and transparency?

Beacon ensures governance integrity and transparency through a structured governance framework that upholds accountability across all business aspects.