THOR Industries Releases 6th Annual Sustainability Report – RVBusiness
Elkhart, Indiana. – For nearly 45 years, THOR Industries has used responsible, sustainable business practices to inspire and empower people to connect with nature and each other to “Go Everywhere.” Stay where you are, according to the statement.
On Tuesday, THOR Industries, Inc. (NYSE: THO), the world’s largest manufacturer of recreational vehicles, released its sixth annual Sustainability Report detailing the company’s industry-leading sustainability efforts for fiscal 2023 across its global portfolio of companies.
“Our sustainability journey is an integral and ongoing part of our culture, and we are very proud of it,” said Bob Martin, THOR President and CEO. “We are proactively addressing environmental, social and governance risks, and we believe these ongoing sustainability efforts have a very positive impact on our business, our consumers, our team members, our partners, and the communities in which we live, work and play.”
As the global leader in the RV industry, today, more than ever, THOR is focused on building for the future through products, people and community engagement. THOR takes its responsibility to promote a clean and safe environment through responsible and sustainable business practices very seriously, and believes that doing so will encourage others in the industry to do the same.
THOR has taken significant steps in its sustainability journey to lead the way in the industry including obtaining approval from the Science Objectives Initiative (SBTi) Validation Team confirming short-term Scope 1, Scope 2 and Scope 1, 2 and 3 targets. Long-term targets are in line with SBTi mitigation pathways of 1.5°C to reach net zero by 2050 or earlier.
Highlights of the sustainability journey for the fiscal year 2023:
- THOR has embarked on a comprehensive examination of Scope 3 greenhouse gas (GHG) emissions and expanded its energy intensity targets to include Scope 3 becoming net carbon neutral by 2050.
- Provide disclosures in accordance with the Task Force on Climate-related Financial Disclosures (TCFD), Sustainability Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) standards.
- Reinforces its leadership in mobility innovation by introducing the all-electric Bürstner camper van in Europe, which can travel up to 197 miles per charge, as well as announcing a partnership with Harbinger to offer its best-in-class electric RV range including larger RVs , such as Class A mobile homes.
- CDP has strengthened its work by introducing its third annual Carbon and Climate Survey to provide greater clarity and disclosure about its efforts to measure, manage, disclose and reduce greenhouse gas emissions.
- Partnered with the RV Industry Association to create the first-ever RV Industry Sustainability Committee to share best practices and serve as an educational resource, chaired by THOR’s Vice President of ESG.
- Published an Inclusion Maturity Model that focuses on executive leadership and accountability, cultivating a diverse workplace, creating a connected culture and having an exceptional employer brand to attract and retain top talent to be more innovative and responsive to stakeholders.
- Supported and partnered with more than 150 nonprofit organizations across the THOR family of companies, including the National Forest Foundation, whose mission is to help combat threats to the outdoor lifestyle. THOR is one of the Foundation’s major corporate sponsors.
“As we continue to execute on our long-term strategic plan, we remain focused on contributing to a sustainable future to allow for great outdoor experiences, a cornerstone of our business,” added Todd Wolfer, THOR’s senior vice president and chief operating officer. “Our global sustainability program highlights our deep commitment to improving the lives of our team members and customers, enhancing the viability of diverse communities, and promoting a clean and safe environment.”
THOR’s Sustainability Report for FY2023 is published in electronic form only and can be viewed on the company’s website at: www.thorindustries.com/sustainability-report.