Rural lifestyle retailer releases most robust sustainability report to date
SOURCE: Tractor Supply
DESCRIPTION:
Tractor Supply Company (NYSE: TSCO), the largest rural lifestyle retailer in the United States recently released its Stewards of Life Out Here Sustainability Report, detailing aggressive plans to achieve ESG goals in its operations and in the communities the Company serves. The report, which showcases the Company’s progress towards achieving net zero emissions by 2040, also sets a new water conservation goal for 2025. The Company pledged to reduce water usage by 25 million gallons through operational efficiencies at its more than 2,000 stores and distribution centers, as well as through partnerships to preserve natural waterways.
“The progress we’re making towards more sustainable operations is evidence of our commitment to preserving Life Out Here for future generations,” said Hal Lawton, President and Chief Executive Officer of Tractor Supply. “We are passionate about Life Out Here, and we respectfully take on the duties and obligations that are required to truly be Stewards of Life Out Here – both now and in the future.”
Tractor Supply has experienced rapid growth through the COVID-19 pandemic, due to its focus on serving the needs of customers spending more time at home and in their yards, gardens and farms. The small-box retailer is charting growth to more than 2,700 store locations in the coming years and already employs more than 46,000 people. As an employer, Tractor Supply earned a perfect score on the Human Rights Campaign Foundation’s 2022 Best Places to Work Corporate Equality Index, was named as one of Forbes – Best Employer’s for Diversity 2022 and was included in the 2022 Bloomberg Gender-Equality Index.
The newly released sustainability report is aligned with the disclosure metrics of the Sustainability Accounting Standards Board (SASB) and discusses how the Company’s activities and initiatives align with UN Sustainable Development Goals (SDGs).
Some highlights include:
- Reduced its scope 1 and scope 2 GHG emissions intensity per million dollars of revenue and per square foot by 18.8% and 6.2%, respectively,
- Reported scope 3 GHG emissions for the second consecutive year, and
- Avoided landfill contributions with ongoing recycling efforts:
- 392,000 batteries
- 99,900 gallons of used oil
- 32,610 tons of cardboard
- 4.3 million wood pallets
Other accolades include:
- EPA Green Power Partner
- Forbes’ 2021 “America’s Best-in-State Employers”
- FTSE4Good Constituent - Four Consecutive Years
- Gender Balance rating from 50/50 Women on Boards
- Great Place to Work Certified for two consecutive years
- IBD’s 2021 100 Best ESG Companies
- IDG’s Insider Pro and Computerworld Named Tractor Supply List of 100 Best Places to Work in IT
- Newsweek’s Americas Most Responsible Companies
- Newsweek’s Americas Most Trusted Companies
- SmartWay 2021 High Performer
- Sustainalytics’ Top-Rated ESG Performer - Regional
DE&I and Community Partnerships
Tractor Supply reported on significant steps in its diversity, equity and inclusion (DE&I) strategy to create a “welcoming environment” for Team Members, customers, communities and suppliers. In 2021, the Company hired a diversity recruiting manager and set a series of new five-year goals:
- Doubling the number of stores where Team Members mirror the communities they serve
- Increasing people of color at the manager level and above by 50%
- Increasing commitment to funding programs and education for Black and African Americans by 30%
- Increasing spending with diverse suppliers by 35%
“We believe we are stronger together when we put our values into action,” said Melissa Kersey, Executive Vice President and Chief Human Resource Officer at Tractor Supply. "We are holding each other accountable to continuously improve and strengthen our diverse, equitable and inclusive culture built on respect.”
In 2021, Tractor Supply also donated more than $570,000 to DE&I causes, benefitting veterans, persons with disabilities, LGBTQ+ youth, Hispanic Team Members, women and Black and African Americans. Programs spanned a variety of initiatives, including working with Operation Stand Down Tennessee to support career transitions for veterans. Tractor Supply supported youth education through a partnership with Minorities in Agriculture, Natural Resources and Related Sciences (MANRRS) and supported legal advocacy through the NAACP Legal Defense Fund. The Tractor Supply Foundation also actively supports the American Farmland Trust and is a strategic partner for the Brighter Future Fund, a grant program started in recognition of the need for greater equity and inclusion for all groups who have been, and still are, marginalized. This year, the Brighter Future Fund will focus on providing resources to farmers who identify as Black, Indigenous, and People of Color, women and LGBTQIA+.
Supporting Emerging Lifestyle Trends
In addition to the sustainability report, Tractor Supply also released the results of a survey commissioned to better understand behavior changes that emerged following the onset of the COVID-19 pandemic. For instance, the Company saw increased demand for chicks, seeds and rain barrels, all of which reflected an increased interest by costumers in developing more sustainable lifestyles.
The survey from OnePoll found that, in fact, 2 in 3 people said they had made efforts to live more sustainably since the start of the pandemic. Other points of interest included:
- Over 40% of respondents began growing their own food through backyard gardening or poultry
- More than 50% started their own "sustainable hobbies" in the last two years
Those who didn’t start sustainable hobbies said it was because they didn’t know where to begin, the cost was prohibitive, or it involved too much work. This is where Tractor Supply believes it can make an impact as a relationship-retailer.
“Our role as a relationship-retailer allows us to provide guidance and advice to help our customers overcome these hurdles or misperceptions,” said Lawton in a recent op-ed about the survey findings. “We can do this, for instance, by explaining to customers that our line of battery-powered equipment produces no direct emissions and is less expensive to operate than gas-powered tools.”
The tools Lawton mentioned are one of Tractor Supplies newest sustainability initiatives, the expansion of the Greenworks Pro 60V Platform of tools for which the Company is the exclusive provider. The line includes more than 75 battery-operated, professional-grade tools for customers who are ready to do away with the direct emissions, heavy equipment, and high operating costs associated with gas-powered tools.
Tractor Supply’s Sustainability Report details the intricacies of its environmental commitments, along with other sections about talent development, communities, supply chain, corporate governance and much more. It’s a well-developed picture of how the Company plans to chart itself to a successful future over the coming years.
“This report aims to give an inside look to our unique approach to retailing and being Stewards of Life Out Here,” said Lawton. “It’s the story of how we share a lifestyle with our customers and understand our responsibility to protect that lifestyle and the ecosystems and resources on which it relies.”
To read Tractor Supply’s 2021 Sustainability report, please visit https://corporate.tractorsupply.com/ESG.
About Tractor Supply
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 more than 46,000 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 March 26, 2022, the Company operated 2,003 Tractor Supply stores in 49 states, a consumer mobile app and an e-commerce website at www.TractorSupply.com.
Tractor Supply Company also owns and operates Petsense, 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 March 26, 2022, the Company operated 178 Petsense stores in 23 states. For more information on Petsense, visit www.Petsense.com.
To stay up to date on all things for Life Out Here, follow Tractor Supply on Facebook, Instagram and Twitter.
Contact:
Mary Winn Pilkington 615-440-4212
Marianne Denenberg 615-440-4345
KEYWORDS: Tractor Supply, ReportAlert, NYSE: TSCO
