LCI Industries, which, through its wholly-owned subsidiary, Lippert Components Inc., supplies, domestically and internationally, a broad array of highly engineered components for the leading original equipment manufacturers (OEMs) in the recreation and transportation product markets, and the related aftermarkets of those industries, today issued its inaugural corporate sustainability report (CSR Report). This report is an important milestone in Lippert’s sustainability management, setting the base on environmental, social, and governance (ESG) topics toward continual and long-term improvement.
“Our commitment to good corporate citizenship and reporting on our efforts is a natural progression for Lippert. The increasing consideration of ESG is very aligned with our corporate values, our culture, and the consumers in our outdoor recreation industry. Building and enhancing our reporting capabilities will drive ongoing tracking of our performance allowing us to keep our stakeholders up-to-date on our sustainability progress,” said Jason Lippert, president and CEO of Lippert. “Our growth and recent innovations along with our increasing focus on ESG will mean our Lippert team members, their families, and our customers will be able to better enjoy the communities where we live, work, and play, long into the future.”
- Lippert has expanded the Board of Directors’ oversight on ESG topics.
- Lippert is releasing material information in line with the Sustainable Accounting Board Standards (SASB) standard for the first time.
- Lippert has successfully transformed its employee culture, reflected in a substantial reduction in its attrition rate from 120% in 2017 to 28% in 2019 and 31% in 2021.
- Lippert is replacing conventional energy with solar at seven facilities, which have produced 8.75GwH to date on a combined basis, the equivalent of preventing the GHG emissions of 1,349 passenger vehicles driven for a year.
- Lippert team members and their families have dedicated more than 500,000 hours to more than 2,000 charitable causes since 2017.
- Lippert has updated its Code of Conduct, Whistleblower, and Conflict Minerals policies.
The CSR Report is aligned with the SASB disclosure framework and shares the first released table, a standard Lippert adopted due to its focus on materiality. SASB is an independent standards-setting organization dedicated to enhancing the efficiency of the capital markets by fostering high-quality disclosure of financially material sustainability information that meets investor needs. In alignment with SASB’s Sustainable Industry Classification System™ (SICS™), LCI Industries’ 2020 SASB index references the framework for the Transportation Sector: Auto Parts industry and the Consumer Goods Sector: Building Products and Furnishings.
“The Lippert Board of Directors has welcomed ESG oversight as the issues added to our charge are appropriate and modern considerations for a sustainable business. The SASB-aligned report captures the most material ESG topics for our company and is a standard that was recommended by investors,” says Tracy D. Graham, Lippert board of directors chair.
Lippert says it will periodically update its ESG activity on its website, and will release its calendar year 2022 report in 2023. To access the 2021 Lippert Corporate Sustainability Report, please visit www.lci1.com/sustainability.