BLOOMINGTON, Minn. - The Toro Company (NYSE: TTC) today released its Sustainability Report for fiscal 2021, which highlights key achievements, metrics and newly defined sustainability goals as part of its Sustainability Endures strategic initiative. The report builds on the company’s longstanding commitment to making a positive impact financially, socially and environmentally worldwide.
“At The Toro Company, sustainability is engrained in our purpose, our actions and our approach to doing business,” said
Richard M. Olson
, chairman and chief executive officer. “It is rooted in a genuine desire to help our customers solve their most important challenges in a sustainable way, and extends to improving the rapidly changing world in which we live. Not only is sustainability at the heart of how we innovate and develop new products and technologies, it also influences daily operations, the way we invest in our people, and the way we compete and win in the right way. It is also displayed in our dedication to serving customers and giving back to global communities.”
TTC’s established Sustainability Endures initiative is comprised of four pillars – People, Products, Process and Planning – that guide strategic actions and drive enterprise sustainability efforts on a global scale. Through the work of each pillar, the company has created performance goals to help drive change in a meaningful way. These newly established goals include:
- Increasing the number of women and racial and ethnic minorities in leadership positions by at least 20% by fiscal 2025, as compared to fiscal 2021.
- Increasing battery and hybrid product sales to at least 20% of total adjusted net sales (motorized product sales) by fiscal 2025.
- Reducing absolute Scope 1 and 2 greenhouse gas emissions by at least 15% by fiscal 2025, as compared to fiscal 2019.
Sustainability is fundamental to TTC’s strategic priorities and is ingrained in its purpose and actions. The company continues to leverage innovation to reduce the impact of its operations, products and services as evidenced by recent key sustainability initiatives and accomplishments:
to serve as TTC’s vice president of sustainability, business analytics and process improvement, further signaling the commitment to accelerating change and delivering meaningful results for stakeholders.
- Matched employee contributions to nonprofit organizations of their choice to support COVID-19 efforts and committed $500,000 to assist families and communities affected by the pandemic through The Toro Company Foundation.
- Made important advancements in battery and hybrid technology, helping customers reduce or eliminate exhaust emissions.
- Invested resources to enhance safety and wellness programs with a renewed focus on advancing continuous improvement initiatives across TTC operations.
- Coordinated employee immersion experiences to help support smallholder farmers in Honduras, Malawi and Nicaragua with sustainable drip irrigation and water storage solutions that better meet the needs of farmers and their communities.
Looking ahead, the company has also strategically aligned its priorities with six United Nations Sustainable Development Goals to help address environmental and social issues globally in areas where TTC can make the most significant contributions. The identified goals are: Goal 6 – Clean Water and Sanitation; Goal 8 – Decent Work and Economic Growth; Goal 9 – Industry, Innovation and Infrastructure; Goal 11 – Sustainable Cities and Communities; Goal 12 – Responsible Consumption and Production; Goal 13 – Climate Actions.
“We have established a roadmap to achieve our stated sustainability goals in support of our strategic priorities – accelerating profitable growth, achieving operational excellence and empowering our people,” added Olson. “We are excited to share our progress and the achievements that got us here today, as well as future aspirations along our sustainability journey.”
The full sustainability report, which was prepared with reference to the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB), can be found at: www.thetorocompany.com/sustainability.