THOR Industries Releases 7th Annual Sustainability Report – RVBusiness – Breaking RV Industry News
ELKHART, Ind. – For nearly 45 years, THOR Industries has utilized responsible and sustainable business practices in its operations as its products inspire people to connect with nature and one another to “Go Everywhere. Stay Anywhere.” Today, THOR Industries, Inc. (NYSE: THO), the world’s largest RV manufacturer, published its seventh annual sustainability report detailing the company’s industry-leading sustainability efforts for its fiscal year ended July 31, 2024 (FY2024) across its global family of companies.
“At THOR, the idea of sustainability is not just a talking point. Sustainability is a core principle upon which we operate our company,” shared Bob Martin, THOR President and CEO. “We are committed to making changes now to ensure a sustainable future exists so people can continue to connect with nature, and families with one another, to create lifelong memories.”
THOR has taken significant steps in its sustainability journey to lead the way for the industry including attaining approval from the distinguished Science Based Targets initiative (SBTi) Validation Team confirming THOR’s Scope 1 and Scope 2 short-term targets and Scope 1, 2 and 3 long-term targets are aligned with the SBTi’s 1.5˚C mitigation pathways for reaching net-zero by 2050 or sooner.
FY2024 Sustainability Journey Highlights:
- THOR proactively completed a double materiality assessment as an initial step towards compliance with the upcoming European sustainability regulations.
- Installed solar projects at North American operating companies which, to date, have eliminated 3,595 MTCO2e – the equivalent to 856 gasoline vehicles driven for one year.
- Decreased global Scope 1 and Scope 2 emissions by 27.4% vs. the baseline Fiscal Year 2019.
- Advanced its emobility innovation leadership by developing the world’s first hybrid Class A motorhome test vehicle and the world’s first fully electric fifth wheel trailer prototype. The hybrid Class A motorhome, developed in partnership with Harbinger, delivers an estimated 500 miles of range, and is expected to qualify as a Near-Zero Emissions Vehicle (NZEV) under the Advanced Clean Truck legislation, adopted by the California Air Resources Board (CARB). The world’s first fully electric fifth wheel trailer prototype was successfully introduced to an operating company’s dealer network at their annual dealer meeting.
- Debuted the Hymer Eriba® Touring Sustainability Concept Vehicle which is focused on sustainable production methods, features greater use of environmentally-friendly materials, and is anticipated to reduce CO2 emissions due to reduced vehicle weight.
- Submitted the Company’s fourth annual Carbon & Climate questionnaire to the CDP to provide visibility and disclosure around efforts to measure, manage, disclose and reduce GHG emissions, water usage, and forestry impact.
- Partnered with the RV Industry Association to re-establish the RVIA Workplace Safety Committee to share best practices and serve as an educational resource.
- Supported and partnered with over 150 non-profit organizations across the THOR family of companies, including a strategic partnership with the National Forest Foundation, whose mission is to help combat threats to the outdoor lifestyle. THOR is one of the foundation’s most significant corporate sponsors.
- Honored and publicly recognized in Newsweek & Statista’s list of “World’s Most Trustworthy Companies” for the second time, Newsweek & Statista’s list of “Most Trustworthy Companies in America” for a third year in a row, Newsweek & Statista’s list of “America’s Most Responsible Companies” for a second year, US News & World Report’s “Best Companies to Work For”, and USA Today & Statista’s “America’s Climate Leaders” for THOR’s commitment to sustainability.
“As we continue to execute on our long-term strategic plan, we remain focused on contributing to a sustainable future to allow great outdoor experiences, not only for our customers today but for generations to come, which is a cornerstone of our business,” added Todd Woelfer, THOR SVP and Chief Operating Officer. “Our global sustainability program highlights our deep-rooted commitment to better the lives of our team members and customers, foster the viability of diverse communities, and promote a clean and safe environment.”
THOR’s FY2024 Sustainability Report was published in electronic format only and may be viewed on the Company’s website at: www.thorindustries.com/sustainability-report.
