The BRP corporation that makes fun-loving Ski-Doo, Lynx, Sea-Doo, Can-Am and Manitou powersports and marine products, among others, announced some lofty goals on Monday with its CSR25 corporate responsibility initiative.
Among the listed goals are having 50 percent of its products being electric-powered by 2035, carbon-neutral and zero-landfill-contributing factories by 2030 and major CO2 emissions reductions from its entire supply chain by 2035.
As a part of the Environment, Social and Governance (ESG) program, the company also launched a Responsible Rider program. In explaining that program on its website, BRP states, “We believe that when we empower all riders to ride responsibly — to look out for each other and safeguard our trails and playgrounds — we inspire an industry to welcome newcomers, build a more caring community and generate positive experiences.”
The press release on the ESG program (pasted in its entirety below) mentioned the recent announcement of planned all-electric Can-Am motorcycles in the future as an example of a big step toward electric product development. In the past, BRP CEO Jose Boisjoli has talked about the company’s plans for electric options in all of its product lines but stated that major use of electric in its snowmobile product may be one of the biggest challenges, given how and where snowmobiles are used.
The CSR25 program also includes goals for diversity, inclusion and ethics. What does this whole program mean in terms of the products the company creates, how they are created and who they are sold to in the future? Only time will tell. Polaris also has its own ESG/Corporate Responsibility program.
Here’s the press release from BRP:
BRP LAUNCHES NEW CSR PROGRAM AND STRENGTHENS ITS COMMITMENT TO CORPORATE SOCIAL RESPONSIBILITY
The Company is raising the bar with ambitious environmental targets
VALCOURT, QC, April 11, 2022 /PRNewswire/ – Today, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced its commitment to take corporate social responsibility (CSR) even further with the launch of its new CSR25 program. It includes more ambitious environmental targets than ever before, concrete initiatives, and sets goals for 2025 and beyond. It also reflects BRP’s intention to be the industry leader in corporate citizenship.
“We are very proud of our CSR25 program, which stretches the boundaries of our commitment to create a stronger future for our employees, our dealers, our customers and all of our stakeholders,” declared José Boisjoli, President and CEO. “Not only does it align with our strategy and industry best practices, it also sets high objectives that reflect the growing environmental and social concerns of our communities. We look forward to the enthusiastic participation of all our employees around the world in ensuring that our efforts are successful. Our board of directors and executive management team are fully dedicated to ensuring we make tangible progress and track our results on a regular basis.”
BRP’s CSR25 program fosters value creation around three main pillars: Environment, Social and Governance. The responsibility of each of them has been assigned to senior executives who leverage their expertise to ensure the program’s objectives are achieved. They specifically focus on BRP’s employees, communities, operations and products and are broken down as follows:
- Reduce the carbon footprint relating to products and operations
In 2021, BRP took an important step towards reducing the carbon footprint of its products with the announcement of a $300 million investment over the next five years to electrify each of its existing product lines by the end of 2026. BRP aims to have 50% of its units sold as electric by 2035. Furthermore, it has set the target of launching new electric products and new models that emit less CO2 than their predecessor. As such, BRP recently confirmed its first EV models with the upcoming launch of an all-electric lineup of Can-Am motorcycles.
On the operations side, BRP targets making its facilities carbon neutral and reaching zero waste to landfill by 2030. It also aims to reduce CO2 emissions from its supply chain by 25% by 2035.
- Ensure a positive and sustainable impact in communities and the daily lives of employees
BRP reiterates its commitment to invest 1% of pre-tax profits in community support by 2025.
Also, the Company is increasing its efforts to empower all riders in the powersports community to ride responsibly through the new BRP Responsible Rider program. It aims to encourage riders to focus further on safety, riding etiquette and the environment.
To foster an even more inclusive culture where everyone feels they belong, BRP has embarked on a Diversity, Equity and Inclusion (DE&I) journey. The Company has established a diverse DE&I Council which is comprised of employees from various backgrounds and workplaces and led by two senior executives who will implement a strong action plan. Specific DE&I employee resource groups are also being formed to reach targets.
- Continue to make sound strategic decisions, maintain high ethical standards and conduct operations in a sustainable manner
Under its Governance pillar, BRP is also announcing the upcoming launch of an enhanced version of its Code of Ethics. The intention is to further mobilize and empower its employees and other stakeholders in maintaining and displaying high ethical standards and behaviors across all of BRP’s activities.
Sandy Vassiadis, Vice-President, Global Communications & Corporate Social Responsibility added: “As a global leader in powersports vehicles, propulsion systems and boats, we are dedicated to reinventing how we move people in a more sustainable way and caring for our communities. The program we are launching today reflects our commitment to lead by example and inspire our industry to play an active and engaging role in creating a brighter future for all. We look forward to rallying our complete network around our CSR initiatives and promoting eco-responsible practices.”
For full details about BRP’s CSR25 program and its initiatives, please visit the Corporate Social Responsibility section of our website.Caution Concerning Forward-Looking Statements
Certain information included in this press release, including statements regarding the Company’s CSR25 program and its intention to set environmental, social and governance targets, goals and initiatives, its intention to electrify existing product lines, its intention to launch new electric product lines and other statements that are not historical facts, are “forward-looking statements” within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “forecasts”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “outlook”, “predicts”, “projects”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP or the powersports or marine industry to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP’s annual information form dated March 25, 2022.About BRP
We are a global leader in the world of powersports vehicles, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on and off-road vehicles, Alumacraft, Manitou, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce is made up of close to 20,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, Stacer, Savage and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
SOURCE BRP Inc.