• Sustainability initiatives expand to include Mark's
• Sustainability work recognized through multiple awards and inclusion
in a prominent sustainability stock index
TORONTO, Nov. 10, 2011 /CNW/ - Canadian Tire Corporation, Limited's
(CTC, CTC.a) ongoing integration of sustainable practices into its
business operations resulted in the completion of 84 initiatives1 during the third quarter. As a result, Canadian Tire is forecasted to annually avoid more than
$1.1 million in costs, 596 tonnes of waste, and more than 1,200 tonnes2 of greenhouse gas (GHG) emissions - equivalent to the energy use and
emissions from powering more than 138 Canadian homes each year.
Canadian Tire expanded the implementation of its sustainability
initiatives to its Mark's business unit in the quarter through the
retrofit of high-efficiency lighting in 13 stores. With these
improvements, Mark's is forecasted to annually avoid more than $54,000
in costs and over 520 tonnes of GHG emissions.
"We have achieved tremendous business and environmental results on the
Canadian Tire Retail side, and we're very pleased to expand our
initiatives to include our other business units, starting with Mark's,"
said Tyler Elm, Vice President, Business Sustainability, Canadian Tire.
"With more members of the Canadian Tire family working together to
improve our business sustainability performance, we are confident that
we will see even more significant results in the future."
Canadian Tire's work in business sustainability has garnered increased
recognition from the investment community and a string of prestigious
awards for the work of both individuals and departments:
Canadian Tire was recently added to the STOXX Global ESG Leaders Index
family. Of the 316 constituents, 15 are based in Canada and Canadian
Tire is the only Canadian retailer included. The index represents the
leading global companies in terms of environmental, social and
governance criteria, based on ESG indicators provided by
Sustainalytics, which has provided research for the Socially
Responsible Investment and Responsible Investment markets for more than
In recognition for leading the transformation of Canadian Tire's
approach to sustainability, Tyler Elm, Canadian Tire's Vice President
of Business Sustainability, was selected by Delta Management Group as
one of Canada's Clean50, a collection of 50 individuals or small teams
who have had the greatest effect on Canada's long-term sustainability
and contributed the most to clean capitalism in this country over the
past few years.
Subsequent to the end of the quarter, Elm was also named one of twenty
winners of Green Living's Excellence in Corporate Responsibility
Awards, placing first in the "Large Business, Senior Leader: Retail,
Packaged Goods, and Consumer Brands." The program honours and
celebrates corporate Canadians at small, medium and large corporations
for outstanding work and dedication in creating sustainable and ethical
practices within the business framework.
Also in October, Canadian Tire won and placed in two CATIE awards - Best
practices in Trade Compliance Processes and Greening of the Supply
Chain, respectively. Given by the Canadian Association of Importers and
Exporters, the awards celebrate excellence in Canada's trade community
and recognize corporations that have taken a leadership role in
In early November, Canadian Tire's Quebec Dealers were honoured for
their work on Canadian Tire's Go Eco Program with the 3M Environmental
Innovation Award from the Royal Canadian Geographical Society. The
Award recognizes individuals involved in a local, regional or national
project, program or initiative that has provided innovative solutions
that protect, restore or preserve the environment.
Through Canadian Tire's business sustainability strategy, 365
initiatives1 have been implemented year-to-date and are forecasted2 to annually avoid3 approximately $4.5 million in costs, 2,300 tonnes of waste, and 5,300
tonnes of greenhouse gas emissions4. Details of the progress made year-to-date are presented below3:
Cost Avoidance4 ($)
Energy use Avoidance4 (gigajoules)
GHG emissions2 Avoidance4 (tonnes1)
Equivalent number of Canadian homes powered (annually)
Equivalent household waste from this many Canadian homes
In addition, Canadian Tire operates two low carbon energy generation
installations that include solar PV and geothermal technologies, with
many more currently under construction or under contract for completion
during the next year. Year-to-date, these projects have generated over
196 GJ5 of energy, generated over $875,000 in revenue, more than $4,000 in cost
avoidance4, and helped to avoid4 nine tonnes of greenhouse gas emissions2 in the local economy.
Year-to-date, Canadian Tire also contributed $12.3 million to community
blue box and industry product stewardship and recycling programs.
For further details, refer to Making a Difference at http://corp.canadiantire.ca/EN/MAD/Pages/default.aspx http://CTSustainabilityinAction.ca
1 Initiatives vary in complexity and size from changes made to an
individual retail product, a retrofit made to a fleet vehicle or the
building of a new store. Project completion for these initiatives is
defined by a) the commercial operation date for buildings and product
transport projects, b) the approval date for operations and product
projects. Projects are reported in the quarter they are completed,
unless data is not available, in which case the completed project is
reported in a future quarter provided it is in the same year of the
project's complete date or the first quarter of the following year.
2 Measured as carbon dioxide equivalents (C02-eq). Greenhouse gasses such as methane (CH4) and nitrous oxide (N20) are converted to their carbon dioxide equivalent based on their
relative global warming potential (GWP).
3 As sustainability initiatives are part of an inherently dynamic process
and as projects come to fruition, revisions to estimates are
periodically made and the Performance Report is adjusted in accordance
with the company's Business Sustainability Performance Report Corporate
4 Avoidance refers to savings in comparison to what it would have been if
Canadian Tire had not made the improvements. These values express a 12
month forecasted result from the date of each project's completion.
Values beyond the first 12 months are not reported.
5 Low carbon energy generation is measured in gigajoules (GJ). Where
energy sources that don't typically report in kWh, such as the energy
transfer conversion from ground source heat pumps (geothermal), they
can be converted to give an equivalent kilowatt hour value and then GJ.
ABOUT CANADIAN TIRE
Canadian Tire Corporation, Limited (TSX:CTC.a) (TSX:CTC) is one of
Canada's most-shopped general retailers and the country's largest
sporting goods retailer, with more than 1,700 retail and gasoline
outlets from coast-to-coast. Our primary retail business categories -
Automotive, Living, Fixing, Playing and Apparel - are supported and
strengthened by our Financial Services division, which offers such
products and services as credit cards, retail deposits, in-store
financing, product warranties, and insurance. Nearly 68,000 people are
employed across the Canadian Tire enterprise, which was founded in 1922
and remains one of Canada's most recognized and trusted brands.
SOURCE CANADIAN TIRE CORPORATION, LIMITED
For further information:
Joscelyn Chernick-Smith, 416-480-8017, (m) 416-433-5922, firstname.lastname@example.org