Beacon Releases Inaugural Corporate Social Responsibility Report

Rhea-AI Summary

Beacon (BECN) has published its inaugural Corporate Social Responsibility (CSR) Report, emphasizing its commitment to environmental sustainability, employee well-being, and ethical governance. The report highlights a goal to reduce greenhouse gas emissions by 50% by 2030 and showcases that over 800 employees have reached over 20 years with the company. Beacon aims to share annual updates on its ESG initiatives, underlining its role as a responsible corporate citizen.

Positive

• Set a target to reduce greenhouse gas emissions by 50% by 2030.
• Over 800 employees have celebrated 20+ year milestones, indicating a stable workforce.
• Strong emphasis on ethical governance and corporate social responsibility.

Negative

• None.

Anchors ESG in Beacon’s Core Values

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) (the “Company”, “we”, “us”) announced today, in connection with its Investor and Analyst event in Houston, Texas, that it has published its inaugural Corporate Social Responsibility (CSR) Report. With the Company’s core values as a foundation, the 2021 CSR Report expresses our longstanding belief in responsible corporate citizenship and our commitment to transparency and continuous improvement.

Beacon Building Products (Photo: Business Wire)

“We are proud of our work to reduce our environmental impact, keep our employees safe and healthy, give back to our communities, and uphold our Code of Ethics and Business Conduct as a guide for everything we do,” said Julian Francis, Beacon’s President and CEO. “As we grow, we will do the right thing for our people, for the communities where we work, and for the planet. Our first CSR Report is an important milestone. There is certainly more for us to do on this journey, and we are committed to delivering the goals included in our 2021 CSR.”

Highlights from Beacon’s inaugural CSR Report include:

Building better for the environment: Beacon knows that protecting the environment is essential to the long-term success of our business. We will do the right thing by operating with sustainable business practices, including reducing fleet emissions and saving energy in our facilities. Specifically, by the year 2030 we commit to reduce the intensity our greenhouse gas emissions by 50%.

Putting people first: For us, this means helping our employees, customers and communities stay safe and healthy, and reach their full potential. We emphasize our core values to all our employees, establishing shared expectations of respect and inclusivity, work ethic and collaboration. Our commitment to being a great place to work is evident by the numbers: as of December 2021, over 800 employees, more than 10% of our workforce, have celebrated 20+ year milestones with Beacon.

Doing the right thing: We believe doing the right thing is everyone’s job at Beacon. Our employees work together to uphold our Code of Ethics and Business Conduct, manage risk, and commit to building better every day.

Last year, Beacon’s Board of Directors updated its Nominating and Governance Committee Charter to include the Committee’s role overseeing governance of the Company’s corporate social responsibility, safety, and environmental practices.

The Company intends to share its progress on ESG initiatives annually. View Beacon’s 2021 CSR Report at https://www.becn.com/2021-CSR-Report.

Forward-Looking Statements

This press release contains information about management’s view of Beacon’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe", "will likely result", "outlook", "project" and other words and expressions of similar meaning. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of Beacon’s latest Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Beacon’s views as of the date of this press release and these views could change. However, while Beacon may elect to update these forward-looking statements at some point, Beacon specifically disclaims any obligation to do so, other than as required by applicable law. These forward-looking statements should not be relied upon as representing Beacon’s views as of any date subsequent to the date of this press release.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 80,000 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 business with us 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/20220223005041/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets & Treasurer

Binit.Sanghvi@becn.com

972-369-8005

MEDIA CONTACT

Jennifer Lewis

VP, Communications and CSR

Jennifer.Lewis@becn.com

571-752-1048

Source: Beacon

FAQ

What is included in Beacon's (BECN) 2021 CSR Report?

The report includes commitments to environmental sustainability, employee safety, and ethical governance.

What environmental goals has Beacon (BECN) set for 2030?

Beacon aims to reduce its greenhouse gas emissions by 50% by 2030.

How many employees at Beacon (BECN) have over 20 years of service?

Over 800 employees, more than 10% of the workforce, have celebrated 20+ year milestones.

How often will Beacon (BECN) report on its ESG initiatives?

Beacon intends to share its progress on ESG initiatives annually.