Given the historic challenges we are facing as a society and as we progress with our Monro.Forward strategy, it is now more important than ever for us to further the integration of our priority Environmental, Social and Governance (ESG) considerations into our decision-making and long-term planning. We see this as a responsibility towards our stakeholders while also helping us reduce business risks, create opportunities and increase our resilience.
– Michael T. Broderick President and CEO
Monro’s Corporate Responsibility (CR) efforts are an important lens through which we identify Environment, Social and Governance (ESG) risks and opportunities that could meaningfully impact our business over the long-term. As part of our commitment to transparency and accountability, formalizing our CR strategy and objectives is a top priority for senior management and the Board. In fiscal year 2021, Monro increased its executive oversight of the Company’s priority ESG factors. The Company’s Chief Legal Officer leads management’s efforts to increase our focus and transparency in this area, with input from, and collaboration with, other members of the senior leadership team. At the Board level, the Nominating and Corporate Responsibility Committee has primary oversight responsibility for our corporate responsibility and governance efforts including reviewing and advising on strategy and reporting.
After a thorough review of our business strategy and practices we have placed our CR priorities, which includes ESG topics, into the categories of: Teammates (including safety; diversity, equity & inclusion; and retention), Customers, Communities and Environment. The report linked here outlines our efforts in each. The report also maps to certain Sustainability Accounting Standards Board (SASB) factors for the Multiline and Specialty Retailers industry. We considered the Task Force on Climate-related Financial Disclosure (TCFD) and will continue to evaluate the relevance for Monro in the coming months. We are committed to increasing our transparency over time and welcome feedback from stakeholders.