ATLANTA, Aug. 22, 2022 /PRNewswire/ -- Interface, Inc. (NASDAQ: TILE), a worldwide commercial flooring company and global leader in sustainability, today released its 2021 Environmental, Social, and Governance (ESG) Report, Design With Purpose. The report details the company's efforts to reduce its environmental impacts, cultivate social responsibility, and operate with strong governance to benefit all of its stakeholders – employees, customers, shareholders, and the environment.
"Driven by the vision of our founder, Ray Anderson, Interface has been a sustainability trailblazer for nearly three decades," said Laurel Hurd, CEO at Interface. "Our 2021 ESG report highlights the significant milestones we have achieved and progress we continue to make as an organization. We have reduced our environmental impact, advanced our DEI initiatives, and implemented global strategies to support employee health and well-being. We have also influenced others to design purpose-driven businesses that positively impact employees, communities, and the environment."
The Interface 2021 ESG Report highlights many notable achievements for the company, including:
- Received validation of its 2030 greenhouse gas (GHG) reduction targets as science-based from the Science-Based Targets initiative (SBTi) – an important milestone on the company's journey to become a carbon negative enterprise by 2040
- Continued to deliver all global products as carbon neutral across their full lifecycle through third-party verified Carbon Neutral Floors™ program; retired 442,000 metric tonnes of verified emission reduction credits in 2021
- Established a DEI framework; invested in best-in-class tools and platform to improve data visibility
- Launched a global culture and DEI survey to gather employee feedback
- Implemented workplace strategies to support employee health and wellbeing globally
The 2021 ESG report also provides transparency into the company's global greenhouse gas (GHG) emissions, carbon footprint by product type, use of recycled and biobased materials, use of renewable energy, and high-level employee demographics using traditional disclosures and following a Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) approach.
"The progress we made in 2021 laid the groundwork for sustained success and momentum in 2022," continued Hurd. "This would not have been possible without our global Interface team that remains at the center of everything we do. With a solid foundation in place, we look forward to working alongside our customers, partners, suppliers, and employees as we continue advancing our journey to greater sustainability and responsibility."
The 2021 ESG Report, and other ESG-related materials and documents, can be found at https://investors.interface.com/.
About Interface
Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.
Learn more about Interface at interface.com and blog.interface.com, our nora brand at nora.com, our FLOR® brand at FLOR.com, and our Carbon Neutral Floors™ program at interface.com/carbonneutral. Learn more about our carbon negative products at interface.com/carbonnegative.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as "may," "expect," "forecast," "anticipate," "intend," "plan," "believe," "could," "should," "goal," "aim," "objective," "seek," "project," "estimate," "target," "will" and similar expressions. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, as supplemented in the Company's Quarterly Report on Form 10-Q for the quarter ended July 3, 2022: "The COVID-19 pandemic could have a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets"; "Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market"; "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets"; "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, border closing or other adverse government regulations"; "The uncertainty surrounding the ongoing implementation and effect of the U.K.'s exit from the European Union, and related negative developments in the European Union could adversely affect our business, results of operations or financial condition"; "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt"; "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness"; "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness"; "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design"; "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely"; "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers"; "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile ("LVT") or other key raw materials could have a material adverse effect on us"; "The market price of our common stock has been volatile and the value of your investment may decline"; "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations"; "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics or other unexpected events"; "Disruptions to or failures of our information technology systems could adversely affect our business"; "We face risks associated with litigation and claims"; and "The conflict between Russia and Ukraine could adversely affect our business, results of operations and financial position". You should consider any additional or updated information we include under the heading "Risk Factors" in our subsequent quarterly and annual reports.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.
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