A letter from the THOR Industries’ Board of Directors:
As the global leader in the recreational vehicle (RV) industry, promoting sustainable environmental, social and governance practices is an integral part of THOR’s culture. 2021 was a historic year, one which presented the world with new realities. We encountered rising consumer demand, record order backlogs and unprecedented global supply chain challenges which tested our ingenuity. We are proud that our experienced and agile team continued to make significant strides in our sustainability journey by maintaining a focus on our Environmental, Social and Governance (ESG) efforts, all while continuing to navigate the disruption caused by the pandemic.
THOR’s commitment to sustainability helps us understand and address environmental, social and governance risk, while enabling us to have a positive impact on our consumers, partners, team members, and communities. As a testament to THOR’s commitment to sustainability, in June 2021, the Board of Directors formally renamed the Governance and Nomination Committee to the Environmental, Social, Governance and Nomination Committee. We believe, in addition to doing what’s right, sustainability efforts will continue to help us be more resilient and more adaptive.
This year, THOR took bold steps towards achieving the 50% reduction in Scope 1 and Scope 2 Green House Gas (GHG) emissions by 2030 – the interim target of our carbon net-neutral goal by 2050 – as part of the commitment THOR made to “Business Ambition for 1.5°C” in June 2020. We are excited to announce our Erwin Hymer Group achieved the significant milestone of carbon net-neutral manufacturing during fiscal year 2021. We are very proud of the Erwin Hymer Group for this accomplishment as it is a first for the RV industry. THOR also achieved the important milestone in our sustainability journey by voluntarily completing the Carbon Disclosure Project (CDP) Carbon & Climate Questionnaire, for which we intent to submit data annually.
Innovation continues to be a priority for THOR as we consider the future of our team members, operations and our ability to positively impact RV travel. In fiscal 2021, THOR’s first Chief Innovation Officer was appointed and charged with developing a vision for evolving and optimizing innovation across the THOR family of companies, globally. The longterm success of our company requires the integration of sustainability efforts into all aspects of our business to ensure we make a positive and lasting impact on the communities in which we live and operate.
Our commitment to Diversity, Equity and Inclusion (DEI) continued to strengthen throughout fiscal 2021. THOR’s DEI journey included engaging a Chief People and Inclusion consultant to develop a DEI framework and benchmark initiatives, implementing new recruiting and retention strategies, creating an inclusive culture, and building partnerships with organizations which serve diverse communities through our Inclusion Committee.
This year’s sustainability report highlights THOR’s initiatives to protect and explore our communities. We look forward to the adventure ahead and commit to working with our stakeholders to impact sustainability opportunities in our future.
THOR Industries’ Board of Directors
FY2021 Sustainability Report