Primo Water Corporation Releases Inaugural Environmental, Social and Governance Report

Rhea-AI Summary

Primo Water Corporation (NYSE: PRMW) has published its inaugural Environmental, Social and Governance (ESG) report, detailing its commitment to sustainability and carbon neutrality. Key initiatives include investments in cleaner transportation and exiting the retail single-use plastics business in North America. The company aims for continuous improvement in ESG reporting, which will include third-party verified GHG emissions and life cycle assessments. Primo generates approximately $2.1 billion in annual revenue and operates with a recurring revenue model through its innovative water solutions across 21 countries.

Positive

• Achieved carbon neutrality.
• Commitment to continuous improvement in ESG reporting.
• Approximately $2.1 billion in annual revenue.

Negative

• None.

Report Highlights Continued Commitment to Carbon Neutrality

TAMPA, Fla., July 11, 2022 /PRNewswire/ - Primo Water Corporation (NYSE: PRMW) (TSX: PRMW) ("Primo"), a leading provider of sustainable drinking water solutions in North America and Europe, today released its inaugural 2020 Environmental, Social and Governance (ESG) report.  This report provides an overview of Primo's long-term goals and efforts in support of those goals. Major milestones include achieving carbon neutrality, investing in cleaner transportation and a targeted exit of the retail single-use plastics business in North America.

"We are pleased to present our inaugural ESG report which highlights our priorities, objectives and achievements," said Tom Harrington, Primo's Chief Executive Officer. "At Primo, ESG is at the core of what we do. We offer sustainable water solutions, a workplace where all feel welcome, and a governance structure that recognizes and appreciates the diversity of thought and backgrounds.  With our ESG report we will formalize our accountability and actions toward ESG and offer annual updates on our progress," said Mr. Harrington.

The report includes data that will be used as a benchmark for future ESG reports.  Primo is committed to continuous improvement and future commitments for ESG reporting including third-party verified greenhouse gas (GHG) emissions, science-based target goal setting, and a completed life cycle assessment. The report can be accessed at www.primowatercorp.com/sustainability

ABOUT PRIMO WATER CORPORATION

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.1 billion in annual revenue. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo's revenue model is its industry-leading line-up of sleek and innovative water dispensers, which are sold through retailers and online at various price points. The dispensers help increase household penetration which drives recurring purchases of Primo's razorblade offering. Primo's razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo delivers sustainable hydration solutions across its 21-country footprint direct to the customer's door, whether at home or to businesses. Through its Water Exchange and Water Refill businesses, Primo offers pre-filled and reusable containers at over 13,000 locations and water refill units at approximately 22,000 locations, respectively. Primo also offers water filtration units across its 21-country footprint representing a top-five position.

Primo's water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association (IBWA) in North America as well as with Watercoolers Europe (WE), which ensures strict adherence to safety, quality, sanitation and regulatory standards for the benefit of consumer protection.

Primo is headquartered in Tampa, Florida (USA). For more information, visit www.primowatercorp.com.

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SOURCE Primo Water Corporation

FAQ

What does the inaugural ESG report from Primo Water Corporation include?

The ESG report includes Primo's long-term goals, achievements in sustainability, and commitments for future ESG reporting.

When was the ESG report by Primo Water Corporation released?

The ESG report was released on July 11, 2022.

What is the revenue generated by Primo Water Corporation?

Primo Water Corporation generates approximately $2.1 billion in annual revenue.

What are the key focuses of the ESG initiatives by Primo Water Corporation?

Key focuses include achieving carbon neutrality, investing in cleaner transportation, and exiting the single-use plastics business.

What is the ticker symbol for Primo Water Corporation?

The ticker symbol for Primo Water Corporation is PRMW.