ELKHART, Ind., Jan. 10, 2022 /PRNewswire/ -- For over 40
years, THOR Industries has utilized responsible and sustainable
business practices to make it easier and more enjoyable for
families to connect with nature, and one another. Today, THOR
Industries, Inc. (NYSE: THO), the world's largest RV manufacturer,
published its fourth annual sustainability report detailing the
Company's industry-leading sustainability efforts for FY2021 across
its global family of operating companies.
"We're proud of our sustainability journey, which is an integral
and ongoing part of our culture," shared Bob Martin, THOR President and CEO. "We are
proactively addressing environmental, social and governance risk,
and we believe these ongoing sustainability efforts will have a
very positive impact on our business, consumers, team
members, partners and the communities in which we live, work and
play."
As the global leader in the growing RV industry, THOR believes
that employing sustainable business practices will encourage others
in the industry to do the same. THOR takes its responsibility to
promote a clean and safe environment through responsible and
sustainable business practices very seriously. In FY2021, THOR took
significant steps in its sustainability journey to lead the way for
the industry.
Specifically:
- THOR took bold steps toward achieving 50% reduction in Scope 1
and Scope 2 Green House Gas emissions, the interim target of its
carbon net-neutral goal by 2050, as part of THOR's June 2020 commitment to "Business Ambition for
1.5˚C."
- Erwin Hymer Group, a THOR company, became a carbon net-neutral
manufacturer in FY 2021, a significant milestone and a first for
the RV industry.
- THOR achieved an important highpoint in its sustainability
journey by voluntarily completing the Carbon Disclosure Project
(CDP) Carbon & Climate Questionnaire in March 2021, which the Company will complete
annually.
- THOR's Board of Directors renamed its Governance and
Nomination Committee to the Environmental, Social and
Governance and Nomination Committee, as a testament to its
focus on, and commitment to sustainability.
- The Company solidified its commitment to Diversity, Equity and
Inclusion by engaging a Chief People and Inclusion consultant to
develop a DEI framework and benchmark initiatives, implement new
recruiting and retention strategies, create an inclusive culture
and build partnerships which serve diverse communities through
THOR's Inclusion Committee.
- THOR appointed its first Chief Innovation Officer to develop
the Company's vision for evolving advanced technologies and
optimizing innovation. THOR believes its innovation focus will help
to reduce the Company's carbon footprint and achieve its
sustainability goals across the THOR family of companies,
globally.
- The Company partnered with and supported over 60 non-profit
organizations across the THOR family of companies, as well as
supported National Forest Foundation as one of the foundation's
most significant corporate sponsors .
- THOR founded the Together Outdoors Coalition, in partnership
with Outdoor Recreation Roundtable (ORR). The coalition's mandate
is to work to make the outdoors a more diversified, inclusive and
inviting place through education, equity and action through the
joined forces of organizations across the outdoor
economy.
"Our global sustainability program highlights our deep-rooted
commitment to better the lives of our team members and customers,
foster the viability of communities, and promote a clean and safe
environment," added Todd Woelfer,
THOR Chief Operating Officer. "The products that our companies
build inspire people to travel, build connections with family and
friends, and develop a lasting appreciation for nature, and our
sustainability efforts are beneficial for our Company, our
customers, the industry and the environment over the long
term."
THOR's FY2021 Sustainability Report was published in electronic
format only, and may be viewed on the Company's website at:
www.thorindustries.com/sustainability-report
ABOUT THOR INDUSTRIES
THOR is the sole owner of
operating companies which, combined, represent the world's largest
manufacturer of RVs. For more information on the Company and
its products, please visit: https://www.thorindustries.com/.
Forward-Looking Statements
This release includes certain statements that are
"forward-looking" statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are made based on management's current expectations and
beliefs regarding future and anticipated developments and their
effects upon THOR, and inherently involve uncertainties and risks.
These forward-looking statements are not a guarantee of future
performance. We cannot assure you that actual results will not
differ materially from our expectations. Factors which could cause
materially different results include, among others: the extent and
impact from the continuation of the COVID-19 pandemic, along with
the responses to contain the spread of the virus, or its variants,
by various governmental entities or other actors, which may have
negative effects on retail customer demand, our independent
dealers, our supply chain, our labor force, our production or other
aspects of our business; the ability to ramp production up or down
quickly in response to rapid changes in demand while also managing
costs and market share; the effect of raw material and commodity
price fluctuations, and/or raw material, commodity or chassis
supply constraints; the dependence on a small group of suppliers
for certain components used in production; the level and magnitude
of warranty and recall claims incurred; the ability of our
suppliers to financially support any defects in their products;
legislative, regulatory and tax law and/or policy developments
including their potential impact on our dealers and their retail
customers or on our suppliers; the costs of compliance with
governmental regulation; public perception of and the costs related
to environmental, social and governance matters; legal and
compliance issues including those that may arise in conjunction
with recently completed transactions; lower consumer confidence and
the level of discretionary consumer spending; interest rate
fluctuations and their potential impact on the general economy and,
specifically, on our dealers and consumers; the impact of exchange
rate fluctuations; restrictive lending practices which could
negatively impact our independent dealers and/or retail consumers;
management changes; the success of new and existing products and
services; the ability to maintain strong brands and develop
innovative products that meet consumer demands; the ability to
efficiently utilize existing production facilities; changes in
consumer preferences; the risks associated with acquisitions,
including: the pace and successful closing of an acquisition, the
integration and financial impact thereof, the level of achievement
of anticipated operating synergies from acquisitions, the potential
for unknown or understated liabilities related to acquisitions, the
potential loss of existing customers of acquisitions and our
ability to retain key management personnel of acquired companies; a
shortage of necessary personnel for production and increasing labor
costs to attract production personnel in times of high demand; the
loss or reduction of sales to key dealers; disruption of the
delivery of units to dealers; increasing costs for freight and
transportation; asset impairment charges; competition; the impact
of potential losses under repurchase agreements; the potential
impact of the strength of the U.S. dollar on international demand
for products priced in U.S. dollars; general economic, market and
political conditions in the various countries in which our products
are produced and/or sold; the impact of changing emissions and
other related climate change regulations in the various
jurisdictions in which our products are produced, used and/or sold;
changes to our investment and capital allocation strategies or
other facets of our strategic plan; and changes in market liquidity
conditions, credit ratings and other factors that may impact our
access to future funding and the cost of debt.
These and other risks and uncertainties are discussed more fully
in our Quarterly Report on Form 10-Q for the quarter ended
October 31, 2021 and in Item 1A of
our Annual Report on Form 10-K for the year ended July 31, 2021.
We disclaim any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in
this release or to reflect any change in our expectations after the
date hereof or any change in events, conditions or circumstances on
which any statement is based, except as required by law.
Contact
Mark Trinske, Vice
President of Investor Relations
mtrinske@thorindustries.com
(574) 970-7912
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SOURCE THOR Industries, Inc.