Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retail chain in the United States, today highlighted recent progress on its longstanding commitment to advancing its environmental, social and governance (ESG) initiatives.
“At Tractor Supply, we are extremely pleased to announce we have exceeded our carbon emission reduction goal five years ahead of schedule," said Ben Parrish, Executive Vice President, General Counsel and Corporate Secretary of Tractor Supply, who leads the Company’s ESG strategy and Stewardship Program. "Further, our TCFD report is a continuation of years of work to enhance the Company’s environmental sustainability efforts and transparency around our environmental impacts. Driven by our commitment to the Company’s Mission and Values, we continue to execute on our purpose-driven ESG efforts by evaluating and implementing policies, programs and projects that benefit all of our key stakeholders.”
Tractor Supply’s recent ESG-related activities include the following:
Update on Goal to Reduce Carbon Emissions
Tractor Supply announced it has reduced carbon emissions from its facilities by 29% (compared to 2015 baseline). This surpasses the Company’s original target of 25% reduction in scope 1 and 2 emissions on a per square foot intensity basis by 2025, established in December 2018, five years ahead of plan.
Task Force on Climate-related Financial Disclosures Report
Today, Tractor Supply is releasing its inaugural report in response to the Task Force on Climate-related Financial Disclosures (TCFD), an organization established by the Financial Stability Board to promote more informed financial decisions and to improve understanding of exposure to climate-related risk. The Company’s report furthers its commitment to environmental sustainability and transparency. 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 of governance, strategy, risk management and metrics and targets. In the TCFD Report, the Company discusses its approach to evaluating and managing climate change risks and identifying opportunities.
Renewable Energy Goal Established
Tractor Supply is also committed to increasing its level of renewable energy purchased for electric consumption. The Company has set a goal to substitute existing electric consumption with verifiable, renewable electric power, setting the base year at 2019 with the goal to achieve this by 2022. The target goal is to achieve a baseline of renewable energy in contracted volumes of 80 million kWh.
The Company has already made progress on this target, entering into three 100% renewable energy agreements so far in 2020. These contracts provide renewable energy for Tractor Supply stores in New Jersey, New York and Virginia. Current renewable energy under contract is 22.8 million kWh. This equates to a reduction of 16,121 metric tons of CO2 or the amount of carbon sequestered by 21,000 acres of US forest.
Solar Energy Program
Tractor Supply is also partnering with various utility companies in the United States to purchase solar energy for select store locations and to participate in community solar programs. Selected stores served by Pacific Gas & Electric are now receiving 100% solar energy, with an annual load of over 1.8 million kWh. This equates to a reduction of 1,302 metric tons of CO2 or the amount of carbon sequestered by 1,700 acres of US forest.
To learn more about Tractor Supply’s ESG efforts and view the TCFD Report, visit www.Corporate.TractorSupply.com/ESG.
About Tractor Supply Company
Tractor Supply Company (NASDAQ: TSCO), the largest rural lifestyle retailer in the United States, has been passionate about serving its unique niche, as a one-stop shop for 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 that addresses the needs of the Out Here lifestyle. With more than 40,000 Team Members, the Company leverages its physical store assets with digital capabilities to 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 26, 2020, the Company operated 1,904 Tractor Supply stores in 49 states 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 September 26, 2020, the Company operated 183 Petsense stores in 25 states. For more information on Petsense, visit www.Petsense.com.
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