The AZEK Company Inc. (NYSE: AZEK) ("AZEK" or the “Company”), the industry-leading manufacturer of beautiful, low-maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK® Trim, and StruXure® pergolas, today announced that it has published its 2023 FULL-CIRCLE Report. The report details the Company’s environmental sustainability, social impact and corporate governance initiatives aligned with its business and brand to foster a more sustainable and circular future.
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The report also highlights the Company’s progress and aspirations across its three FULL-CIRCLE pillars: Products, People and Planet. Through its FULL-CIRCLE initiative, AZEK aims to integrate one billion pounds of recycled waste and scrap material annually into its manufacturing processes, create positive and sustainable impact for its employees, customers and communities, and reduce its carbon footprint across its value chain.
“We are proud to share our 2023 FULL-CIRCLE Report, a reflection of our unwavering commitment to sustainability, innovation and the core values that drive every aspect of our business,” said Jesse Singh, President and CEO of The AZEK Company. “Our dedication to reducing our environmental impact, engaging and inspiring stakeholders across our value chain and demonstrating sustainable, responsible business growth has never been stronger. We continue to make significant strides in advancing both our business and sustainability goals and enhancing our performance. We have also enhanced our product portfolio to offer more resilient and sustainable solutions for our customers, such as our TimberTech Advanced PVC decking with top-rated fire resistance and our AZEK Exteriors products with increased recycled content. We are excited about the opportunities ahead as we continue to pursue our vision of revolutionizing outdoor living to create a more sustainable future.”
Highlights and achievements from AZEK’s 2023 FULL-CIRCLE Report include:
- Repurposed approximately 420 million pounds of waste and scrap into the manufacturing of AZEK products, bringing the total amount used since fiscal 2019 to 2.1 billion pounds
- Achieved 44% reduction in total carbon intensity (tCO2e per $1 million net sales) between fiscal 2019 and fiscal 2023, driven primarily by the increased use of recycled waste and scrap material and emissions-free energy sources
- TimberTech decking has a lower lifecycle carbon impact versus traditional wood decking, including pine and Brazilian tropical Ipe, based upon the results of our life cycle assessment studies
- TimberTech decking was recognized as one of Green Builder’s Sustainable Products of the Year and named to HGTV Magazine’s Green List for the second consecutive year
- Expanded AZEK’s FULL-CIRCLE PVC Recycling® program to 1,200+ bins and totes in circulation across the United States to collect jobsite PVC scraps and cutoffs as well as post-construction PVC materials such as end-of-life vinyl siding
- Responded to the CDP Climate Change Questionnaire for the first time
- Increased our employee engagement score to 79 in 2023 from 74 in 2021 (out of a possible score of 100), maintaining the top quartile of company engagement scores
- Achieved a 27% improvement in safety performance year over year
- Launched three new Employee Resource Groups (ERGs) to foster a culture of inclusion and belonging: African Americans@AZEK, Pride@AZEK and Mindful Living@AZEK
- Achieved zero waste to landfill certification for the TimberTech Championship, a PGA TOUR Champions event, for the third consecutive year
- Recognized as one of America’s Climate Leaders by USA Today for the second consecutive year
- Named one of Chicago’s Top Workplaces by the Chicago Tribune for the third consecutive year, a Best Company to Work For in the construction and materials industry by U.S. News and World Report, and one of America’s Most Responsible Companies by Newsweek
“Our ongoing efforts to innovate with purpose and engage thoughtfully with our stakeholders are essential to accelerating our impact as a team and as a company,” said Amanda Cimaglia, Vice President of Corporate Affairs. “This report not only showcases our progress but also outlines our future ambitions. As we always strive to lead with purpose and integrity, we remain steadfast in our commitment to our core value of always doing the right thing.”
For more information on AZEK’s FULL-CIRCLE ESG initiatives and additional details from the latest report, visit our website.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains or refers to certain forward-looking statements within the meaning of the federal securities laws and subject to the "safe harbor" protections thereunder. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words “believe,” “hope,” "expect," "intend," "will," "target," “anticipate,” "goal" and similar expressions. Our forward-looking statements include, without limitation, statements with respect to our ability to meet the future targets and goals we establish, including our financial, operational, environmental, social and governance goals, and the ultimate impact of our actions on our business as well as the expected benefits to the environment, our employees, the communities in which we do business or otherwise. The Company bases its forward-looking statements on information available to it on the date of this release, and undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may otherwise be required by law. Actual future events could also differ materially due to numerous factors that involve substantial known and unknown risks and uncertainties including, among other things, the risks and uncertainties set forth under "Risk Factors" and elsewhere in the Company's reports on Form 10-K, as amended, and Form 10-Q and the other risks and uncertainties discussed in any subsequent reports that the Company files with the Securities and Exchange Commission from time to time. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements.
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading designer and manufacturer of beautiful, low maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and railing, Versatex® and AZEK® Trim, and StruXure® pergolas. Consistently awarded and recognized as the market leader in innovation, quality, aesthetics and sustainability, our products are made from up to 85% recycled material and primarily replace wood on the outside of homes, providing a long-lasting, eco-friendly, and stylish solution to consumers. Leveraging the talents of its approximately 2,000 employees and the strength of relationships across its value chain, The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of its innovative products, keeping hundreds of millions of pounds of waste and scrap out of landfills each year, and revolutionizing the industry to create a more sustainable future. The AZEK Company has recently been named one of America’s Climate Leaders by USA Today, a Top Workplace by the Chicago Tribune and U.S. News and World Report, and a winner of the 2024 Real Leaders® Impact Awards. Headquartered in Chicago, Illinois, the company operates manufacturing and recycling facilities in Ohio, Pennsylvania, Idaho, Georgia, Nevada, New Jersey, Michigan, Minnesota and Texas. For additional information, azekco.com.
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