CHICAGO--(BUSINESS WIRE)--The AZEK Company Inc. (NYSE: AZEK) ("AZEK" or the “Company”), the industry-leading manufacturer of beautiful, low-maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK® Trim, and StruXure™ pergolas, today announced that it has published its 2022 FULL-CIRCLE™ Environmental, Social and Governance (ESG) Report. The report details the Company’s ESG initiatives, key focus areas and business- and brand-aligned actions to create a more sustainable, circular future.
“At AZEK, we believe that being a great company is one that employees want to work for, customers want to buy from and investors want to invest in,” said AZEK CEO Jesse Singh. “We have dedicated ourselves to not only building a great company, but a great company where sustainability is at the core of our business strategy and our purpose to revolutionize outdoor living to create a more sustainable future. Through this report, we reflect on both our business and ESG achievements not only with a sense of pride and gratitude, but also with the view that this is simply the next step in our journey of building a great company. We continue to be excited and energized by the opportunity to drive real and lasting change with a sustainable, profitable business well positioned for long-term growth and shared value creation for all our stakeholders.”
Highlights and achievements from AZEK’s 2022 FULL-CIRCLE ESG Report include:
- Approximately 500 million pounds of scrap and waste diverted from landfills and used to manufacture products across AZEK’s portfolio
- Increased the percentage of recycled content in TimberTech Advanced PVC decking to approximately 60%—the highest in the PVC decking market today—and increased the percentage of recycled content in TimberTech Composite decking to approximately 85%
- TimberTech decking has a lower lifecycle carbon impact versus traditional wood decking, including pine and Brazilian tropical Ipe, according to the results of our life cycle assessment studies
- Achieved 29% reduction in total carbon intensity (tCO2e per $1 million net sales) between fiscal 2019 and fiscal 2022
- Formally committed to set near term science-based emissions reduction targets through the Science-Based Targets Initiative
- Expanded AZEK’s FULL-CIRCLE Recycling™ program to 1,200+ bins and totes in circulation across the United States to collect jobsite PVC scraps and cutoffs as well as post-construction PVC materials such as end-of-life vinyl siding
- Achieved Zero Waste-to-Landfill certification for the 2022 TimberTech Championship, the only tournament to do so in PGA TOUR Champions history
- Launched two Employee Resource Groups: Women @ AZEK and Veterans @ AZEK
- Named one of Chicago’s Top Workplaces by the Chicago Tribune for the second consecutive year as well as a Gamechanger in ESG by CohnReznick
- 50% gender and/or racially/ethnically diverse board and 60% gender and/or racially/ethnically diverse executive team
- ESG included as a component of individual performance under our 2022 management annual incentive plan
“At AZEK, we believe that creating a more sustainable, circular future is both our responsibility and an opportunity for our business,” said Amanda Cimaglia, Vice President of ESG and Corporate Affairs. “As a team and as a company, we are committed to continuously raising the bar on our FULL-CIRCLE ESG initiatives through innovation, inspiration, collaboration and most importantly, action underscored by our core value of always doing the right thing.”
For more information on AZEK’s FULL-CIRCLE ESG initiatives and additional details from the latest report, visit our website.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains or refers to certain forward-looking statements within the meaning of the federal securities laws and subject to the "safe harbor" protections thereunder. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words “believe,” “hope,” "expect," "intend," "will," "target," “anticipate,” "goal" and similar expressions. Our forward-looking statements include, without limitation, statements with respect to our ability to meet the future targets and goals we establish, including our financial, operational, environmental, social and governance goals, and the ultimate impact of our actions on our business as well as the expected benefits to the environment, our employees, the communities in which we do business or otherwise. The Company bases its forward-looking statements on information available to it on the date of this release, and undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may otherwise be required by law. Actual future events could also differ materially due to numerous factors that involve substantial known and unknown risks and uncertainties including, among other things, the risks and uncertainties set forth under "Risk Factors" and elsewhere in the Company's reports on Form 10-K and Form 10-Q and the other risks and uncertainties discussed in any subsequent reports that the Company files with the Securities and Exchange Commission from time to time. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements.
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading designer and manufacturer of beautiful, low maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK Trim® and StruXure™ pergolas. Consistently recognized as a market leader in innovation, quality and aesthetics, products across AZEK’s portfolio are made from up to approximately 90% recycled material and primarily replace wood on the outside of homes, providing a long-lasting, eco-friendly and stylish solution to consumers. Leveraging the talents of its approximately 2,000 employees and the strength of relationships across its value chain, The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of its innovative products, keeping millions of pounds of waste out of landfills each year, and revolutionizing the industry to create a more sustainable future. The AZEK Company has recently been named one of America’s Climate Leaders by USA Today, a Top Workplace by the Chicago Tribune and a winner of the 2023 Real Leaders® Impact Awards. Headquartered in Chicago, Illinois, the company operates manufacturing and recycling facilities in Ohio, Pennsylvania, Idaho, Georgia, Nevada, New Jersey, Michigan and Minnesota. For additional information, please visit azekco.com.