Ritchies is committed to operating in an environmentally and sustainably friendly manner and in accordance with good corporate governance, and through this commitment we have commenced undertaking a number of targeted initiatives and projects across our store network.
As part of our core values, we will continuously strive to protect the environment and to operate in compliance with all environmental laws and regulations. Ritchies is further committed to good corporate governance and to create sustainable growth and enhancing long term shareholder value. Further, our directors and team members are expected to always act ethically and socially responsibly.
Our commitment to the environment demonstrates our awareness that our actions are important to our team, customers, stakeholders, and our overall business performance.
We are currently working on finalising our inaugural Environment, Sustainability and Governance Plan (“ESG Plan”) which will set out in detail our commitments to environmental, sustainable, and good corporate governance practices.
However, a number of environmental, sustainable and governance projects have been put in place over a sustained period of time, which will be incorporated into our ESG Plan.
Through these initiatives, Ritchies have reduced our power consumption by 18% and our greenhouse emissions by 25%. To put this into context, Ritchies has reduced our greenhouse emissions by approx. 25,000 tonnes which is a significant reduction and a substantial saving to the environment. This is a tremendous achievement, and something we are very proud to have achieved.
However, we also note that we still have a way to go to ensure we are operating in an environmentally and sustainably friendly manner that aligns with our core values to reduce our overall carbon footprint.
Ritchies have also reached total contributions of over $52 million to clubs, schools, and charities through our Community Benefits Card. This is another milestone we are proud to have achieved in 2022.