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Turtle Beach Corporation Launches “Play with Purpose” – Establishing the Company’s Environmental, Social, and Governance Goals to Further Improve Global Impact
Rhea-AI Impact
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Rhea-AI Summary
Turtle Beach Corporation (NASDAQ: HEAR) has launched its Environmental, Social, and Governance (ESG) program, named Play with Purpose. This initiative aims to reduce the company’s carbon footprint, eliminate plastic packaging, and enhance diversity in the workplace. Key goals include reducing plastic use in product packaging by 88% for select products and introducing carbon-neutral products by 2023. The program also emphasizes community involvement and supports underrepresented groups in gaming. Turtle Beach has engaged RPS Group to bolster its ESG strategy.
Positive
Set ambitious ESG goals, including an 88% reduction in plastic packaging for certain products.
Plans to introduce carbon-neutral products and carbon impact labeling by 2023.
Strong commitment to diversity and community involvement, with over 60% of external partners from underrepresented groups.
Negative
None.
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--
Leading gaming accessories provider Turtle Beach Corporation (Nasdaq: HEAR) today officially announced the Company’s Environmental, Social, and Governance (ESG) program, entitled Play with Purpose. The Company’s Play with Purpose program, along with its ESG Policy adopted by its Board of Directors, formalizes the Company’s ESG initiatives and sets goals that are, and will continue to be, a vital part of Turtle Beach Corporation’s business. Available on the Company’s corporate website, Play with Purpose highlights Turtle Beach Corporation’s current and future initiatives and goals to reduce its carbon footprint, eliminate plastic packaging, reduce packaging size, and add carbon impact labels on select products across its Turtle Beach, ROCCAT, and Neat Microphones brands. Beyond Turtle Beach Corporation’s ESG goals, Play with Purpose also provides insight into the Company’s diversity and inclusion and community involvement commitments.
Turtle Beach Corporation launches “Play with Purpose” – establishing the company’s environmental, social, and governance goals to further improve global impact (Graphic: Business Wire)
“As one of the most well-known brands in gaming for decades, Turtle Beach has had a long-term commitment to ESG initiatives and today’s announcement articulates our future goals,” said Juergen Stark, Chairman and CEO, Turtle Beach Corporation. “With the guidance of the team at RPS Group, amplified by the energy within the organization to continue to do more and do better, we are excited to share these plans and our goals with the community. We want to ensure that when consumers buy Turtle Beach, ROCCAT, and Neat Microphones products, they have confidence knowing we’re focused on minimizing environmental impact, in addition to knowing they’re getting the highest-quality product.”
One of Turtle Beach Corporation’s commitments to date includes reducing plastic use in packaging by 88% (by weight) for the Company’s Stealth 600 Gen 2 headset for Xbox (as compared to the original Stealth 600 Xbox headset model). In addition, with other headset models, plastic use was reduced by 87%-96% (by weight). Turtle Beach Corporation has also re-engineered product packaging over time to reduce the overall size and allow for more efficient shipping, which reduces the carbon output associated with shipping products.
Nevertheless, Turtle Beach Corporation plans to go further. By 2023, the Company aims to introduce carbon neutral products and place carbon impact labeling on select products. Turtle Beach’s ESG team is investigating potential sources of post-consumer recycled plastics (PCR) and ways to best integrate PCRs into future products. By 2024, the goal is to incorporate at least 10% PCRs into select products. These actions will not only minimize Turtle Beach Corporation’s environmental impact, but will also enable Turtle Beach, ROCCAT, and Neat Microphones customers to make informed purchasing decisions that support a more sustainable lifestyle.
Turtle Beach Corporation’s Play with Purpose program is also about more than the environment. Indeed, the Company has always taken a strong position to support diversity and inclusion, along with steadfast community support and interaction. The Company believes workplace diversity creates an environment where different perspectives lead to improved creativity, productivity, team member engagement, and overall employee happiness. To embrace diversity, Turtle Beach has taken initiatives such as working with diversity-focused, specialized job sites to increase the diversity of its candidate pool.
In addition to the Company’s long-standing in-house diversity efforts, over 60% of Turtle Beach Corporation’s roster of external gaming partners and creator talent come from under-represented groups in gaming. Turtle Beach Corporation also supports the broader community by giving back to causes that we, along with our customers and our partners, care strongly about. For example, in 2020, in support of social justice reform Turtle Beach Corporation partnered with Roc Nation and Team Roc to provide financial support for The Gathering for Justice and Until Freedom. Also, in 2021 Turtle Beach announced a long-term partnership with GLSEN to support LGBTQ+ gamers.
Stark added, “We want to work with a diverse group of the best and brightest people, because it makes Turtle Beach Corporation a better place. Whether it’s the individuals that make up the Company, other companies we work with, or the influencers, content creators, and pro gamers we partner with, diversity has always played an important role in how we do business.”
Turtle Beach Corporation engaged RPS Group – a global ESG consultancy, to help enhance its ESG strategy, assist with implementation, and provide an objective assessment of its current standing with respect to ESG matters.
For the latest information on Neat Microphones’ lineup of professional and consumer microphones, visit www.neatmic.com.
About RPS Group
RPS is a leading global professional services firm with over 5,000 people located in 125 countries. RPS helps clients develop an ESG strategy that bolsters their corporate strategy, satisfy customers and investors’ expectations, minimize risk, capture opportunities, and strengthen the company’s reputation. RPS reviews the ESG risks and opportunities based on the Company’s industry, operations, geographic footprint, business model, and other considerations. RPS investigates companies’ standing on a variety of topics, including product stewardship, supply chain, human capital, ethics, climate resiliency, among others.
About Turtle Beach Corporation
Turtle Beach Corporation (corp.turtlebeach.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing high-quality, comfort-driven headsets for all gamers. Innovation, first-to-market features, a broad range of products, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. In 2021, Turtle Beach expanded the best-selling brand beyond headsets and successfully launched the first of its groundbreaking game controllers and gaming simulation accessories. Turtle Beach’s ROCCAT brand (www.roccat.com) combines detail-loving German innovation with a genuine passion for designing the best PC gaming products, including award-winning keyboards, mice, headsets, mousepads, and other PC accessories. Turtle Beach’s Neat Microphones brand (www.neatmic.com) creates high-quality USB and analog microphones for gamers, streamers, professionals and students that embrace cutting-edge technology and design. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: HEAR.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “goal,” “project,” “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management’s current belief and expectations, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, the Company’s liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
All trademarks are the property of their respective owners.
Keith Hennessey Sr. Director, Communications & Partnerships – International
Turtle Beach +44 (0) 1256 678350
keith.hennessey@turtlebeach.com
Investor Information:
Cody Slach or Alex Thompson Gateway Investor Relations
949.574.3860
hear@gatewayir.com
Source: Turtle Beach Corporation
FAQ
What is Turtle Beach's new ESG program?
Turtle Beach's new ESG program is called Play with Purpose, focusing on environmental sustainability and social responsibility.
What are Turtle Beach's goals for reducing plastic use?
Turtle Beach aims to reduce plastic use in product packaging by 88% for certain products and introduce carbon-neutral products by 2023.
How does Turtle Beach support diversity?
Turtle Beach supports diversity by ensuring over 60% of its external gaming partners come from underrepresented groups.
What is the significance of Turtle Beach's carbon impact labeling?
The carbon impact labeling will inform customers about the environmental impact of select Turtle Beach products, aligning with their sustainable practices.
Which consultancy is helping Turtle Beach with its ESG strategy?
Turtle Beach has engaged RPS Group, a global ESG consultancy, to enhance its ESG strategy and implementation.
