Fox Factory Releases 2022 Sustainability Report, Detailing 2030 Aspirations
26 Luglio 2023 - 9:30PM
On Wednesday, Fox Factory released its 2022 global sustainability
report which highlights the company's strategy and achievements to
date. The company also introduced the next stage of its
sustainability journey by setting 2030 aspirations for positive
impacts across its operations and communities.
“It’s incredible to see how far we’ve come since formally
embarking on our sustainability journey in 2021, yet it feels like
we’re just getting started,” said Mike Dennison, Chief Executive
Officer. “I’m excited about the aspirations all being win-win
visions in areas that are important to both our business and
stakeholders. We’re finding the sweet spot of creating better
outcomes for people and the environment, while increasing our
performance.”
Key highlights from 2022:
Planet – Protecting Our Global Playground
- Awarded over $1.2 million USD in
grants to 85 nonprofit organizations focused on sustainable
adventure for all through their signature community outreach
initiative, Trail Trust
- Conducted a comprehensive climate
risk and opportunity assessment aligned with the Task Force on
Climate-Related Financial Disclosures framework
- Became the official suspension
partner of Extreme E, the world’s most sustainable extreme racing
series
People – United in Shared Well-being and
Adventure
- Achieved 69% engagement score on the
global employee survey, a 5% increase from 2021
- Launched the Women’s Interactive
Network Employee Resource Group with over 75 members
- Provided over $180,000 USD in
donations and corporate matches to 550 nonprofits through the
employee giving program
Product – Redefining Sustainable
Performance
- Rolled out a Supplier Code of
Conduct to all Tier 1 suppliers, outlining expectations for
responsible and ethical practices
- Increased pre-production testing
volume by 40% for the Specialty Sports Group and 100% for the
Powered Vehicles Group in order to ensure optimal product
quality
- Achieved ISO 14001 certification at
the largest manufacturing facility (Gainesville, Georgia),
demonstrating a commitment to responsible environmental management
in operations
Business Fundamentals – Driving High
Standards
- Began developing a new Enterprise
Risk Management framework and Compliance Management System
- Achieved a 100% completion rate for
Code of Ethics training by Director-level and above employees
- Developed a comprehensive
Information Technology Policy, reinforcing defenses against cyber
threats and upholding the highest data security standards
Building on progress to date, industry best practices, and
stakeholder priorities, Fox Factory developed the following
aspirations for 2030 which are detailed in the report.
Inclusion, Diversity, and Engagement:
Consistently achieve top quartile employee engagement scores and
attain increased representation internally and externally
Sustainable Product Mindset: Introduce
cost-effective sustainable thinking into 100% of new development
projects as well as packaging material usage and design
Social Impact: Globally grant $10 million USD
and expand access to 100,000 underrepresented adventurers through
Trail Trust and achieve 35% employee giving participation in global
giving program
Carbon Emissions: Achieve 25% reduction in
operational emissions (Scope 1 & 2), from 2022
baseline
Supply Chain: Ensure that at least 90% of our
Tier 1 supply chain partners have signed our Supplier Code of
Conduct
For more details, read the full 2022 Sustainability Report
here.
Media Contact:
Ashley Walker
Senior Manager, Corporate Communications
aswalker@ridefox.com
Grafico Azioni Fox Factory (NASDAQ:FOXF)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Fox Factory (NASDAQ:FOXF)
Storico
Da Giu 2023 a Giu 2024