ROCHESTER, N.Y. — Monro Inc. has published its inaugural corporate responsibility report — Monro.Forward Responsibly — which covers Monro's fiscal year ended March 27, 2021.
The report highlights the actions Monro is taking to care for its employees and customers, make a positive impact on the communities where it operates and act as a good steward of the environment.
"Corporate responsibility is fundamental to our core values and how we conduct business at Monro," President and CEO Mike Broderick said.
"This report is an important step forward and a testament to the company's commitment to increase transparency around the oversight and management of our highest priority environmental, social and governance (ESG) initiatives, and how we're incorporating these factors in our daily decision-making and long-term planning."
Highlights and progress addressed in the report include:
• Strengthening the board of directors' ESG oversight through delegation of primary oversight to the re-named nominating and corporate responsibility committee.
• Enhancing employee engagement and prioritizing safety by conducting more robust and structured trainings and a commitment to offer employees clearly defined career paths, which have resulted in the lowest turnover rates in more than five years.
• Fostering diversity, equity and inclusion at all levels of the company through an employee resource group and training and recruiting initiatives.
• Making a positive impact in the communities where the company's "teammates" work and live by volunteering and investing in more social programs that align with our mission and vision, which include providing access to basic needs for individuals and families.
• Reducing the firm's energy footprint by including energy-saving initiatives such as LED lighting and energy-efficient signage in the store refreshment plan.
On the environmental front, Mono noted in fiscal 2021 its store network had recycled 2.5 million gallons of oil, 3.3 million tires, 73,000 batteries and 316 tons of cardboard.
Included in the report is a mapping to certain metrics of the Sustainability Accounting Standards Board's (SASB) standards for multiline and specialty retailers and auto parts industries. Monro will continue to evaluate additional metrics for disclosure in future years.