The Toro Company Publishes 2022 Sustainability Report

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by KnowESG
KnowESG_The Toro Company 2022 sustainability report
Image courtesy of The Toro Company

The Toro Company has unveiled its Sustainability Report for fiscal year 2022, showcasing notable achievements in line with its strategic objectives, advancements in cutting-edge technologies, and initiatives aimed at cultivating a diverse, equitable, and inclusive work environment.

The report additionally presents the outcomes of a comprehensive materiality assessment conducted in 2022, affirming the company's commitment to environmental, social, and governance (ESG) priorities while identifying crucial focal points for its sustainable endeavours in the short and long term.

"The Toro Company is more dedicated than ever to advancing our sustainability goals and supporting the goals of our stakeholders," stated Richard M. Olson, Chairman and CEO. "Sustainability is at the core of our innovation and deeply ingrained in our culture as we invest in our workforce, serve our customers, and give back to our communities. We are thrilled to share our progress and provide updates on the latest advancements in our sustainability journey. With growing momentum, we strive to drive meaningful change for both our people and our planet."

Under the Sustainability Endures initiative, TTC is committed to reinforcing its environmental and social responsibilities through its teams, solutions, and operations to create more beautiful, productive, and sustainable outdoor environments.

This initiative is guided by four key pillars—People, Products, Process, and Planning—which shape TTC's strategic actions and performance objectives, paving the way for a future of sustainable innovation and growth. The report presents comprehensive details and metrics regarding the company's previously established goals:

  • By fiscal 2025, achieve battery and hybrid product sales comprising at least 20% of total adjusted net sales (motorised product sales).

  • By fiscal 2025, reduce absolute Scope 1 and 2 greenhouse gas emissions by at least 15% compared to fiscal 2019.

  • By fiscal 2025, increase the representation of women and racial and ethnic minorities in leadership positions by at least 20% compared to fiscal 2021.

With the momentum building around the Sustainability Endures performance goals, TTC remains steadfast in its commitment to accelerating profitable growth, achieving unparalleled operational excellence, and empowering its workforce. Here are some noteworthy accomplishments and initiatives from fiscal year 2022:

  • Introduced the Women's Initiative Network, the company's first Employee Resource Group (ERG), offering an inclusive platform for support, mentorship, and professional development.

  • Successfully delivered Environmental, Health, and Safety training to over 90% of the global manufacturing and distribution teams.

  • Formed a new partnership with the Atlanta University Center Consortium's Dual Degree Engineering Programme, expanding opportunities for Black students pursuing careers in engineering.

  • Received the prestigious 2022 WaterSense® Excellence Award from the U.S. Environmental Protection Agency for the eighth consecutive year in recognition of promoting water efficiency and conservation.

  • Implemented the Supplier Excellence Programme, which assesses suppliers based on criteria such as cost, quality, delivery, and ESG performance, thereby enhancing the resilience of TTC's supply chain.

  • Through the Land. Water. Thrive. initiative, in collaboration with iDE, TTC employees use their skills and expertise in Zambia to address water challenges faced by local smallholder farmers and promote the benefits of sustainable drip irrigation to enhance crop yields.

  • Expanded the Monitoring, Targeting, and Reporting program to measure energy consumption, water usage, and waste across all global manufacturing facilities, establishing baseline metrics to guide reduction strategies.

The complete sustainability report, including disclosures aligned with the Sustainability Accounting Standards Board (SASB) reporting framework, can be accessed at: www.thetorocompany.com/sustainability.

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Source: Business Wire

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