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Fox Factory Releases 2022 Sustainability Report, Detailing 2030 Aspirations
DULUTH, Ga., July 26, 2023 (GLOBE NEWSWIRE) -- On Wednesday, Fox Factory released its 2022 global sustainability report which highlights the company's
About this update from Fox Factory Holding Corp.
[{"type":"text","content":"DULUTH, Ga., July 26, 2023 (GLOBE NEWSWIRE) -- On Wednesday, Fox Factory released its 2022 global sustainability report which highlights the company's strategy and achievements to date. The company also introduced the next stage of its sustainability journey by setting 2030 aspirations for positive impacts across its operations and communities. “It’s incredible to see how far we’ve come since formally embarking on our sustainability journey in 2021, yet it feels like we’re just getting started,” said Mike Dennison, Chief Executive Officer. “I’m excited about the aspirations all being win-win visions in areas that are important to both our business and stakeholders. We’re finding the sweet spot of creating better outcomes for people and the environment, while increasing our performance.” Key highlights from 2022: Planet – Protecting Our Global Playground Awarded over $1.2 million USD in grants to 85 nonprofit organizations focused on sustainable adventure for all through their signature community outreach initiative, Trail TrustConducted a comprehensive climate risk and opportunity assessment aligned with the Task Force on Climate-Related Financial Disclosures frameworkBecame the official suspension partner of Extreme E, the world’s most sustainable extreme racing series People – United in Shared Well-being and Adventure Achieved 69% engagement score on the global employee survey, a 5% increase from 2021Launched the Women’s Interactive Network Employee Resource Group with over 75 membersProvided over $180,000 USD in donations and corporate matches to 550 nonprofits through the employee giving program Product – Redefining Sustainable Performance Rolled out a Supplier Code of Conduct to all Tier 1 suppliers, outlining expectations for responsible and ethical practicesIncreased pre-production testing volume by 40% for the Specialty Sports Group and 100% for the Powered Vehicles Group in order to ensure optimal product qualityAchieved ISO 14001 certification at the largest manufacturing facility (Gainesville, Georgia), demonstrating a commitment to responsible environmental management in operations Business Fundamentals – Driving High Standards Began developing a new Enterprise Risk Management framework and Compliance Management SystemAchieved a 100% completion rate for Code of Ethics training by Director-level and above employeesDev...