The Container Store Group, Inc (the “Company”), the leading specialty retailer of organizing solutions, custom spaces, and in-home services, today announced the release of its second annual Sustainability Report. The fiscal 2022 report details the Company’s Environmental, Social, and Governance (“ESG”) continued strategic progress, which focuses on empowering its people, operating in an environmentally responsible manner, and delivering sustainable value to its customers, communities, employees, suppliers, and shareholders.
“It is encouraging to see the progress we have made against our ESG strategy, which directly supports our growth as a business, and enables us to meet the needs and demands of our customers and valued stakeholders,” said Satish Malhotra, Chief Executive Officer and President of The Container Store. “Our ESG commitments are guided by our seven Foundation Principles, which are core to our culture and propel our company toward a more sustainable future. Our fiscal 2022 report demonstrates how our integrated approach is advancing our broader goals as a sustainable business and benefiting all company stakeholders in significant ways.”
Highlights of progress and achievements from the past year include:
- Continued to minimize the Company’s carbon footprint by implementing LED lighting, retrofitting stores, and offsetting its energy consumption with 100 percent renewable wind power
- Delivered more opportunities to help customers reduce their environmental impact by increasing the Company’s sustainable product assortment – an important effort that supports The Container Store’s goal of reaching 30 percent of its product assortment classified as sustainable by 2027
- Named one of the Top 30 Retail Partner Companies for 2022 for the Green Power Partnership by the Environmental Protection Agency
- Launched I.D.E.A. (Inclusion, Diversity, Equity and Access), a mentoring and development program that supports The Container Store’s effort to attract, retain, and develop strong, diverse, high performing leaders
- Saw 203 percent growth in members of employee resource groups representing and supporting the interests and professional growth of its diverse talent
- Launched first EV 360 Carbon calculator to provide entire supplier network with a free calculation of their GHG emissions, further supporting efforts in evaluating Scope 3 footprint
This year’s report demonstrates the Company’s progress against its top-ranked material topics, resulting from the formal materiality assessment it conducted in 2021. To further strengthen the Company’s commitment to ESG Integrity, in 2022, the Company launched a new data mapping process to ensure data credibility and process efficiency. It also partnered with third-party experts to build a customized data integrity program to manage data mapping and systems analysis and facilitate a formal internal controls assessment, which analyzes the Company’s internal controls and risk management processes.
To learn more about the company’s ESG commitments, or to download a copy of the 2022 Sustainability Report, please click here. The report aligns to leading sustainability frameworks and reporting standards including the Global Reporting Initiative, the Sustainability Reporting Standards Board, and the Task Force on Climate-Related Financial Disclosures.
About The Container Store
The Container Store Group, Inc. (NYSE: TCS) is the nation’s leading specialty retailer of organizing solutions, custom spaces, and in-home services – a concept they originated in 1978. Today, with locations nationwide, the retailer offers more than 10,000 products designed to transform lives through the power of organization.
Visit www.containerstore.com for more information about products, store locations, services offered and real-life inspiration.