The AZEK Company (NYSE: AZEK) ("AZEK" or the “Company”) is pleased to announce it has successfully met the voluntary requirements of +Vantage Vinyl™, a first-of-its kind industry-wide sustainability initiative that engages companies across the entire U.S. vinyl value-chain.
Companies that showcase the +Vantage Vinyl mark have undergone verification by third-party GreenCircle Certified to confirm they are honoring the program’s guiding principles, which focus on resource recovery, emissions, and health & safety, as well as fostering collaboration and open communication. The initiative’s structure ensures that verified companies, like AZEK, are advancing the sustainability journey of the vinyl industry in alignment with targeted United Nations Sustainable Development Goals (UN SDGs).
“At The AZEK Company, we have made it clear that we believe our success as a business is inextricably linked to our performance on sustainability initiatives, including the development and expansion of our innovative plastic recycling programs, and we are committed to continuous improvement. The +Vantage Vinyl certification underscores and validates these efforts, and we will display it proudly,” Jesse Singh, CEO of The AZEK Company, said. “We hope that in leading by example we can inspire other companies across the vinyl industry to join us in creating a more sustainable future.”
To secure the +Vantage Vinyl mark, AZEK has proven that it meets the requirements outlined by the program’s guiding principles and has integrated sustainability activities and key performance indicators required of the initiative into the business. Many of these activities were outlined in AZEK’s first Environmental, Social and Governance (ESG) report, published in May 2021, which, among other things, include:
- Details on AZEK’s FULL-CIRCLE PVC Recycling™ program, the first of its kind;
- AZEK’s commitment to use one billion pounds of recycled material in the production of its products annually by the end of 2026;
- Results of a peer-reviewed Life Cycle Assessment (LCA), which showed that AZEK’s leading TimberTech® decking products outperform sustainably harvested treated-pine decking on a 100-year total Global Warming Potential basis; and
- Formalization of board-level oversight of sustainability and ESG initiatives, as well as a commitment to integrate ESG performance into management’s annual incentive plan.
+Vantage Vinyl is a sustainability initiative of the Vinyl Sustainability Council (VSC), a self-funded business council advancing sustainability in the vinyl industry. It is the only sustainability initiative that allows participation from all companies within the entire vinyl value chain with U.S. operations, ranging from raw material manufacturers and suppliers to final product manufacturers and retailers.
“Congratulations to The AZEK Company for their commitment to sustainable business practices as represented in their verification of meeting the requirements of +Vantage Vinyl,” Jay Thomas, VSC Executive Director, said. “Continuous improvement of sustainability is a critical initiative of the vinyl industry. By verifying through +Vantage Vinyl, The AZEK Company has demonstrated its leadership in advancing the sustainability of its company and the entire industry. We look forward to our continued collaboration and partnership in the +Vantage Vinyl program.”
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading designer and manufacturer of beautiful, low maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and Versatex® and AZEK Trim®. Consistently recognized as the market leader in innovation, quality and aesthetics, products across AZEK’s portfolio are made from up to 100% recycled material and primarily replace wood on the outside of homes, providing a long-lasting, eco-friendly, and stylish solution to consumers. Leveraging the talents of its nearly 1,700 employees and the strength of relationships across its value chain, The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of its innovative products, keeping millions of pounds of waste out of landfills each year, and revolutionizing the industry to create a more sustainable future. Headquartered in Chicago, Illinois, the company operates manufacturing facilities in Ohio, Pennsylvania and Minnesota, and recently announced a new facility will open in Boise, Idaho. For additional information, please visit azekco.com.
About the Vinyl Sustainability Council
The Vinyl Sustainability Council (VSC), founded in 2016 in partnership with the Vinyl Institute, is a council created to advance the vinyl industry’s efforts in addressing sustainability. The VSC is a collaborative platform for companies, organizations and other industry stakeholders to come together to create a sustainable development path for the industry. For more information, please visit https://vantagevinyl.com/vinyl-sustainability-council/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains or refers to certain forward-looking statements within the meaning of the federal securities laws and subject to the "safe harbor" protections thereunder. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words “believe,” “hope,” "expect," "intend," "will," "target," “anticipate,” "goal" and similar expressions. Our forward-looking statements include, without limitation, statements with respect to our ability to meet the future targets and goals we establish and the ultimate impact of our actions on our business as well as the expected benefits to the environment, our employees, the communities in which we do business or otherwise. The Company bases its forward-looking statements on information available to it on the date of this release, and undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may otherwise be required by law. Actual future events could also differ materially due to numerous factors that involve substantial known and unknown risks and uncertainties including, among other things, the risks and uncertainties set forth under "Risk Factors" and elsewhere in the Company's reports on Form 10-K and Form 10-Q and the other risks and uncertainties discussed in any subsequent reports that the Company files with the Securities and Exchange Commission from time to time. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements.
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Contacts
Amy Widdowson
(650) 597-7132
AZEKquestions@zenogroup.com
