Burlington Stores, Inc. Releases 2021 Corporate Social Responsibility Report
Michael O’Sullivan, CEO, stated, “We’re very proud to share our fourth annual CSR report. During 2021, we made tremendous progress on our ESG objectives. We strengthened our ESG governance by forming an
Mr. O’Sullivan continued, “For the first time, we set clear targets to reduce Scope 1 and 2 greenhouse gas (GHG) emissions 60% by 2030 and achieve 20% renewable energy consumption by 2030, a key part of our new Sustainability 2.0 strategy. We also made significant progress on our diversity, equity and inclusion (DEI) initiatives and enhanced our diversity disclosures. Our new DEI Strategic Plan establishes five strategic pillars designed to enhance the diversity, equity and inclusion of our entire organization over time. We also launched the
Highlights in the CSR report include:
- Set our first environmental targets, by 2030 our goal is to:
- Reduce our Scope 1 and 2 GHG emissions by 60% per operating square foot, compared to our baseline year of 2016, and
- Achieve 20% renewable energy consumption compared to our overall electricity consumption.
- Achieved 44% decrease in Scope 1 and 2 emissions per operating square foot compared to our baseline year of 2016 and 9% renewable energy consumption compared to our overall electricity consumption as of
January 31st, 2021.
- Completed our first formal ESG materiality assessment, a process involving a landscape assessment of global frameworks and investor reports; surveying Associates and customers; and in-depth internal and external interviews to understand the issues of most importance to the business.
- Continued our efforts to diversify our team - 74% of our associates self-identify as Female, and 77% as a Person of Color. This year, we provided enhanced disclosure on the diversity of our management team, including diversity at the Manager level and above, as well as at the Vice President level and above.
- Our recently appointed Senior Vice President and Chief
DEI Officerevolved our Inclusion and Diversity 2.0 Action Plan into a comprehensive DEI Strategic Plan, including an enhanced governance structure. We were able to achieve our previously committed $1 milliondonation to organizations dedicated to advancing social justice and racial equality.
- In 2021, we launched the
Burlington Stores Foundation, a 501(c)(3) non-operating private foundation to build upon our commitment to community. Its mission is to add value to Burlingtoncommunities by enabling people to live better lives.
Burlington, we have fair compensation practices and strive to achieve pay equity. In 2021, a rigorous independent third-party assessment showed 99.9% pay equity at Burlington.
- Further developed our ESG governance structure by creating the ESG/CSR Executive Steering Committee which is responsible for steering Burlington’s ESG strategy, as well as CSR policy and disclosure.
- First time listed in the 100 Best Companies to Work For®.
- Strengthened our community partnerships – celebrating 20 years that we have been making a difference in the communities where we live and work. Through customer donations at point of sale,
Burlingtonraised nearly $7.3 millionfor non-profit organizations, as well as continued to help keep those in need warm throughout the country through our Annual Burlington Coat Drive.
To learn more about our corporate responsibility efforts and view our full 2021 Corporate Social Responsibility Report, please visit our investor relations website at https://www.burlingtoninvestors.com/corporate-social-responsibility.
For more information about the Company, visit www.burlington.com.
Investor Relations Contacts:
Safe Harbor for Forward-Looking and Cautionary Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this release, including our 2030 environmental targets, are forward-looking statements. We do not undertake to publicly update or revise our forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied in such statements will not be realized. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual events or results to differ materially from expectations, including those described from time to time under “Risk Factors” and elsewhere in our filings with the
Source: Burlington Coat Factory Warehouse Corporation