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Tractor Supply Releases 2021 Task Force on Climate-Related Financial Disclosures Report
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Rhea-AI Summary
Tractor Supply Company (NASDAQ: TSCO) released its 2021 Task Force on Climate-Related Financial Disclosures (TCFD) report, marking its third consecutive year of compliance with TCFD guidelines. The report outlines the company's strategy to mitigate climate-related risks, including a commitment to reduce operational emissions by 20% by 2025 and achieve net-zero emissions by 2040. Key initiatives highlight water conservation and construction of a LEED® Gold certified distribution center. The report emphasizes transparency in measuring climate-related risks and opportunities.
Positive
Set absolute carbon reduction targets: 20% by 2025 and 50% by 2030.
Announced new water conservation goal: conserve 25 million gallons by 2025.
Constructed a new distribution center in Navarre, Ohio, to be LEED® Gold certified, operational by Q1 2023.
Joined the Sustainability Consortium to improve product sustainability.
Established partnerships with Ducks Unlimited and Trout Unlimited for conservation projects.
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None.
Third Annual Report Details Company’s Strategy to Mitigate and Address Climate-Related Risk
BRENTWOOD, Tenn.--(BUSINESS WIRE)--
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, today released its 2021 Task Force on Climate-Related Financial Disclosures (“TCFD”) report. For the third consecutive year, the report is aligned with the TCFD’s recommendations for climate disclosure and includes information on Tractor Supply’s operations structured around four thematic areas: governance, strategy, risk management and metrics and targets. Tractor Supply has set absolute carbon reduction targets to reduce emissions from its operations of 20% by 2025 and 50% by 2030, with the ultimate goal of achieving net zero emissions across all operations by 2040.
“This year marks our third consecutive TCFD report, representing the latest example of how we have integrated climate-related considerations into Tractor Supply’s growth strategy and risk management framework,” said Hal Lawton, president and chief executive officer of Tractor Supply. “We remain committed to transparent, forward-thinking stewardship to preserve Life Out Here for future generations. Our TCFD report details the progress we have made on our purpose-driven efforts to evaluate and implement policies, programs and projects that benefit all stakeholders.”
In line with the TCFD guidance, the Company has taken steps over the past year to progress its environmental stewardship, including:
Announced a new water conservation goal, to conserve 25 million gallons of water by 2025
Constructed a new distribution center in Navarre, Ohio to be LEED® Gold certified, set to begin operations in Q1 2023
Joined the Sustainability Consortium, an independent organization of diverse global participants that work collaboratively to improve consumer product sustainability
Announced partnerships with Ducks Unlimited and Trout Unlimited to fund projects aimed at land conservation, wetland restoration and tree-planting efforts
In the TCFD report, the Company discusses its approach to evaluating and managing climate change risks and identifying opportunities following the recommendations of the TCFD. The report focuses on the Company's efforts to transparently measure and share climate-related risks, opportunities, goals and progress.
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, targeting the needs of recreational farmers, ranchers and all those who enjoy living the rural lifestyle, for more than 80 years. Tractor Supply offers an extensive mix of products necessary to care for home, land, pets and animals with a focus on product localization, exclusive brands and legendary customer service for the Out Here lifestyle. With 50,000 Team Members, the Company's physical store assets, combined with its digital capabilities, offer customers the convenience of purchasing products they need anytime, anywhere and any way they choose at the everyday low prices they deserve. At September 24, 2022, the Company operated 2,027 Tractor Supply stores in 49 states, a consumer mobile app and an e-commerce website at TractorSupply.com. In October 2022, Tractor Supply acquired 81 stores from Orscheln Farm and Home that will be rebranded to Tractor Supply by the end of 2023.
Tractor Supply Company also owns and operates Petsense by Tractor Supply, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services. At September 24, 2022, the Company operated 180 Petsense by Tractor Supply stores in 23 states. For more information on Petsense by Tractor Supply, visit Petsense.com.
Tractor Supply Company Mary Winn Pilkington (615) 440-4212
Marianne Denenberg (615) 440-4345
Source: Tractor Supply Company
FAQ
What are Tractor Supply Company's carbon reduction targets?
Tractor Supply Company aims to reduce its operational emissions by 20% by 2025 and 50% by 2030, with a goal of achieving net-zero emissions by 2040.
What initiatives did Tractor Supply announce in its 2021 TCFD report?
In its 2021 TCFD report, Tractor Supply announced a water conservation goal of 25 million gallons by 2025 and the construction of a LEED® Gold certified distribution center.
How does Tractor Supply Company align with TCFD guidelines?
Tractor Supply Company's TCFD report is aligned with TCFD recommendations, focusing on governance, strategy, risk management, and metrics and targets related to climate-related risks.
When will the new distribution center in Navarre, Ohio become operational?
The new distribution center in Navarre, Ohio is set to begin operations in the first quarter of 2023.
What partnerships has Tractor Supply established for environmental projects?
Tractor Supply has partnered with Ducks Unlimited and Trout Unlimited to fund conservation, wetland restoration, and tree-planting projects.
