Business sustainability now included in buyer bonus plans
Number of upgrades and process improvements up three-fold over Q1 last
TORONTO, May 12 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC)
(TSX: CTC.a) accelerated integration of business sustainability
initiatives into its business operations during the first quarter of
2011, completing more than three times as many sustainability-related
upgrades and process improvements as compared to the first quarter of
Canadian Tire completed 93 initiatives, forecasted to annually avoid
more than $891,000 in costs, 412 tonnes of waste, and 960 tonnes1 of greenhouse gas emissions - equivalent to the energy use and
emissions from powering more than 142 Canadian homes each year2 in the first quarter of 2011.
Key projects this quarter included product changes that reduced material
use and packaging, resulting in transportation cost and greenhouse gas
emission avoidance, and the implementation of Central Energy Management
(CEM) systems in an additional 16 stores. CEM systems automate and
control the energy needs of the store, including building temperatures,
thermal comfort, and lighting adjustments, based on the store's
"We continue to see tremendous progress in our business sustainability
initiatives and I'm very encouraged by our first quarter results and
the continued integration of business sustainability into our operating
plans," said Tyler Elm, VP, Business Sustainability, Canadian Tire
Corporation. "We are on-track to exceed the results we posted in 2010
and continue to integrate our sustainability strategy with business
operations by linking employee compensation of Canadian Tire Category
Business Managers to the achievement of sustainability initiatives."
Elm continued: "The performance evaluations for these buyers will now
consider results achieved related to the reduction of excess packaging,
greenhouse gas emissions and waste."
Looking beyond the impact of its own operations, Canadian Tire also
considers those of its suppliers, transportation partners and vendors.
The Company is working with nearly 400 vendors to find innovative
solutions to reduce material use, waste and greenhouse gas emissions
through package right-sizing. For example, one of Canadian Tire's
products within the Living category, a six-foot folding table,
underwent a product and packaging redesign. Change to this one item
resulted in an 11.5 per cent weight reduction and 15 per cent volume
reduction while still meeting quality requirements.
"Canadian Tire's approach to business sustainability extends beyond our
storefronts and it's great to see that our vendors are as serious about
sustainability as we are," said Duncan Reith, SVP, Merchandising,
Canadian Tire Corporation. "We can achieve so much more through
collaboration and look forward to seeing how the changes we make
benefit our bottom line, our customers, and the environment."
With a focus on energy and climate, packaging and waste, and products
and services, Canadian Tire's business sustainability strategy features
three aspirations: to profitably grow the business without increasing
the net carbon footprint of the economy; to eliminate unnecessary
packaging while sending zero waste to landfills; and to provide
innovative products and services that meet customers' needs without
compromising the ability of future generations to meet their needs.
Progress made is reflected in the first quarter results as follows:3
Cost Avoidance5 ($)
Energy Avoidance5 (gigajoules)
GHG Emissions Avoidance5 (tonnes1)
Equivalent Number of Canadian Homes Powered (annually)
In addition, Canadian Tire operates two low carbon energy generation
installations that include solar PV and geothermal technologies. Since
the start of operation in 2008 to the end of the first quarter, these
installations have generated over 211,600 ekWh6, generating approximately $15,400 in value, and helped to avoid 47
tonnes1 of greenhouse gas emissions in the local economy.
Canadian Tire also contributed $3.3 million to community blue box and
industry product stewardship and recycling programs during the first
quarter of 2011.
For further details, refer to http://CTSustainabilityinAction.ca
ABOUT CANADIAN TIRE
Canadian Tire Corporation, Limited (TSX:CTC.a) (TSX:CTC) is one of
Canada's most-shopped general retailers, offering everyday products and
services to Canadians through more than 1,200 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, in-store financing, product
warranties, and insurance. Nearly 57,000 people are employed across the
Canadian Tire enterprise, which was founded in 1922 and remains one of
Canada's most recognized and trusted brands.
1 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).
2 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. Also not reported, are projects completed in past quarters
or their cumulative benefits.
3 As sustainability initiatives are part of an inherently dynamic process
and as projects come to fruition, revisions to estimates are
periodically made to provide the most accurate data available at the
4 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.
5 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.
6 Low-carbon energy generation is measured as equivalent kilowatt hours
(ekWh), where any energy sources that don't typically report in kWh,
such as the energy transfer conversion from ground source heat pumps
(geothermal), can be converted to give an equivalent kilowatt hour
SOURCE Canadian Tire Corporation, Limited
For further information:
Joscelyn Chernick-Smith, 416-480-8017, (m) 416-433-5922, firstname.lastname@example.org