Trex 2022 ESG Report Highlights Sustainability Integration Across the Company
Employee creativity and innovation help drive progress on broad spectrum of ESG initiatives
WINCHESTER, Va., June 28, 2023--(BUSINESS WIRE)--Trex Company, Inc. (NYSE:TREX), the world’s #1 brand of sustainably made, wood-alternative decking and railing – all proudly manufactured in the U.S.A. – and a leader in high-performance, low-maintenance outdoor living products, today published its 2022 Environmental, Social and Governance (ESG) report.
Trex simultaneously advanced its long-range growth strategy and sustainability initiatives, executed at a high level, and created value for customers, investors and other stakeholders.
"2022 was a dynamic year in which we effectively navigated challenging market conditions. While we were faced with these challenges, we upheld our commitment to long-term growth and sustainability, thanks to the dedication of our team and the quality of our products," said Bryan Fairbanks, President and CEO. "Our focus on accelerating the consumer shift to Trex's 95% reclaimed and recycled product from wood decking has solidified our leadership position in the outdoor living category. Our success is not only driven by the quality and durability of our products, but also by their sustainability credentials."
The company’s 2022 ESG report highlights how Trex continues to integrate sustainable thinking across all areas of the business advancing its most material ESG priorities. Highlights include:
Focusing on circularity and energy efficiency. In 2022, the company upcycled nearly 340 million pounds of waste polyethylene (PE) film, retaining its position as one of the largest recyclers of PE film bags, wraps and packaging in North America. In total, Trex has diverted and recycled more than 5 billion pounds of recycled PE film since its founding. The company is working to reduce its energy use and climate impact and is positioned to make further progress in developing a strategy for reducing GHG emissions.
Prioritizing employee safety and career growth. Driven by its proactive focus on improving health and safety, Trex achieved a 50% decrease in its lost-time incident rate (LTIR) compared with 2021. The company also continued to invest in employee learning and development, expanding the portfolio of education for leadership, team building, occupational safety and other topics. In addition, Trex refreshed its onboarding process to provide more support for new hires on core values, workplace safety and business approach.
Fostering diversity in leadership. Trex continued its efforts to foster diversity and inclusion with a particular focus on management positions. In 2022, the company’s proportion of women and ethnically diverse employees in management increased to 30% and 12%, respectively. Women also held three of nine positions on the Board of Directors in 2022.
Resolute on governance and ethics. The company continued to emphasize to employees at all levels the imperative of working with integrity without exception and ensuring business activities align with Trex values. Trex governance processes ensure oversight of ESG and sustainability priorities at the Board level and among senior leadership.
Supporting communities where we operate. Trex supported a broad array of charitable organizations through donations and volunteering in 2022. The company and its employees contributed more than $300,000 to the United Way and other community-based organizations. The company’s NexTrex® community recycling programs enlisted more than 3,300 schools and civic organizations to help divert nearly two million pounds of plastic film from landfills in 2022.
Earning industrywide ESG recognition. The company received several honors, including the 2023 Sustainable Brand Leader award in the decking category — for the 13th straight year — from Green Builder Media®. Also, for the third straight year, Trex was named America’s Most Trusted Outdoor Decking Brand in a nationwide survey by Lifestory® Research.
"I am sincerely grateful to our employees and partners who have enthusiastically contributed to ensuring that Trex's success is founded on sustainable principles," Fairbanks said. "Trex was founded on sustainable principles and continues to make sustainability a priority. We are committed to finding new ways to improve our ESG performance in the years to come."
Learn more in the full 2022 Trex ESG Report and by visiting ESG@Trex.com.
About Trex Company
For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing – all proudly manufactured in the U.S.A. – and a leader in high performance, low-maintenance outdoor living products. Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex® brand. Based in Winchester, Va., Trex is proud to have been named 2023 America’s Most Trusted® Decking Brand by Lifestory Research* and one of 2022’s 50 Best U.S. Manufacturers by Industry Week. For more information, visit Trex.com. You may also follow Trex on Facebook (trexcompany), Instagram (trexcompany), Twitter (Trex_Company), LinkedIn (trex-company), TikTok (trexcompany), Pinterest (trexcompany) and Houzz (trex-company-inc), or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).
*2023 DISCLAIMER: Trex received the highest numerical score in the proprietary Lifestory Research 2023 America’s Most Trusted® Outdoor Decking study. Study results are based on experiences and perceptions of people surveyed. Your experiences may vary. Visit www.lifestoryresearch.com.
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Contacts
S. Leslie Adkins
Vice President, Marketing and ESG Development
540-542-6300
Lynn Morgen/Viktoriia Nakhla
AdvisIRy Partners
212-750-5800
