BRP LAUNCHES NEW CSR PROGRAM AND STRENGTHENS ITS COMMITMENT TO CORPORATE SOCIAL RESPONSIBILITY

Rhea-AI Summary

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has launched its CSR25 program, aiming to elevate its corporate social responsibility initiatives with ambitious environmental targets. The program focuses on three key areas: Environment, Social, and Governance. Key goals include reducing the carbon footprint by electrifying product lines with a $300 million investment over five years, achieving carbon-neutral facilities by 2030, and investing 1% of pre-tax profits in community support. BRP aims to set industry standards while fostering inclusivity through its Diversity, Equity, and Inclusion efforts.

Positive

• Launching the CSR25 program enhances BRP's commitment to corporate social responsibility and sustainability.
• Aiming for 50% electric product sales by 2035 signals strong dedication to eco-friendly initiatives.
• Investing $300 million over five years to electrify existing product lines indicates substantial financial commitment.
• Setting a goal for 1% of pre-tax profits for community support enhances brand loyalty and community relations.

Negative

• None.

The Company is raising the bar with ambitious environmental targets

VALCOURT, QC, April 11, 2022 /PRNewswire/ - Today, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced its commitment to take corporate social responsibility (CSR) even further with the launch of its new CSR25 program. It includes more ambitious environmental targets than ever before, concrete initiatives, and sets goals for 2025 and beyond. It also reflects BRP's intention to be the industry leader in corporate citizenship.

"We are very proud of our CSR25 program, which stretches the boundaries of our commitment to create a stronger future for our employees, our dealers, our customers and all of our stakeholders," declared José Boisjoli, President and CEO. "Not only does it align with our strategy and industry best practices, it also sets high objectives that reflect the growing environmental and social concerns of our communities. We look forward to the enthusiastic participation of all our employees around the world in ensuring that our efforts are successful. Our board of directors and executive management team are fully dedicated to ensuring we make tangible progress and track our results on a regular basis."  

BRP's CSR25 program fosters value creation around three main pillars: Environment, Social and Governance. The responsibility of each of them has been assigned to senior executives who leverage their expertise to ensure the program's objectives are achieved. They specifically focus on BRP's employees, communities, operations and products and are broken down as follows:

• Reduce the carbon footprint relating to products and operations
  
  In 2021, BRP took an important step towards reducing the carbon footprint of its products with the announcement of a $300 million investment over the next five years to electrify each of its existing product lines by the end of 2026. BRP aims to have 50% of its units sold as electric by 2035. Furthermore, it has set the target of launching new electric products and new models that emit less CO₂ than their predecessor. As such, BRP recently confirmed its first EV models with the upcoming launch of an all-electric lineup of Can-Am motorcycles.
  
  On the operations side, BRP targets making its facilities carbon neutral and reaching zero waste to landfill by 2030. It also aims to reduce CO₂ emissions from its supply chain by 25% by 2035.
  
  
• Ensure a positive and sustainable impact in communities and the daily lives of employees
  
  BRP reiterates its commitment to invest 1% of pre-tax profits in community support by 2025.
  
  Also, the Company is increasing its efforts to empower all riders in the powersports community to ride responsibly through the new BRP Responsible Rider program. It aims to encourage riders to focus further on safety, riding etiquette and the environment.
  
  To foster an even more inclusive culture where everyone feels they belong, BRP has embarked on a Diversity, Equity and Inclusion (DE&I) journey. The Company has established a diverse DE&I Council which is comprised of employees from various backgrounds and workplaces and led by two senior executives who will implement a strong action plan. Specific DE&I employee resource groups are also being formed to reach targets.
  
  
• Continue to make sound strategic decisions, maintain high ethical standards and conduct operations in a sustainable manner
  
  Under its Governance pillar, BRP is also announcing the upcoming launch of an enhanced version of its Code of Ethics. The intention is to further mobilize and empower its employees and other stakeholders in maintaining and displaying high ethical standards and behaviors across all of BRP's activities.

Sandy Vassiadis, Vice-President, Global Communications & Corporate Social Responsibility added: "As a global leader in powersports vehicles, propulsion systems and boats, we are dedicated to reinventing how we move people in a more sustainable way and caring for our communities. The program we are launching today reflects our commitment to lead by example and inspire our industry to play an active and engaging role in creating a brighter future for all. We look forward to rallying our complete network around our CSR initiatives and promoting eco-responsible practices.''

For full details about BRP's CSR25 program and its initiatives, please visit the Corporate Social Responsibility section of our website.

Caution Concerning Forward-Looking Statements

Certain information included in this press release, including statements regarding the Company's CSR25 program and its intention to set environmental, social and governance targets, goals and initiatives, its intention to electrify existing product lines, its intention to launch new electric product lines and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP or the powersports or marine industry to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 25, 2022.

About BRP

We are a global leader in the world of powersports vehicles, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on and off-road vehicles, Alumacraft, Manitou, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce is made up of close to 20,000 driven, resourceful people.

www.brp.com

@BRPNews

Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, Stacer, Savage and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

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SOURCE BRP Inc.

FAQ

What is BRP's CSR25 program announced on April 11, 2022?

BRP's CSR25 program aims to enhance its corporate social responsibility initiatives with ambitious environmental targets, focusing on sustainability and community support.

What are the main goals of BRP's CSR25 program?

The main goals include reducing carbon footprints, achieving carbon-neutral facilities by 2030, and investing 1% of pre-tax profits in community support by 2025.

How much is BRP investing in electrification over the next five years?

BRP is investing $300 million over the next five years to electrify its existing product lines.

When does BRP aim to have 50% of its products sold as electric?

BRP aims to have 50% of its units sold as electric by 2035.