Environmental, Social and Governance
The Company is committed to Corporate Social Responsibility (CSR) and more specifically to the environment, product safety, health and
safety, social well-being and economic prosperity everywhere it operates. The Company recognizes that these factors are fundamental to its growth and success. Supported by Senior Management and the Nominating, Governance and Social Responsibility
committee, which has been delegated with the authority to annually review and assess the Companys policies and practices with respect to its corporate social responsibility program, the Board of Directors is the ultimate steward of ESG
matters.
In April 2022, the Company announced its commitment to take CSR even further with the launch of its new CSR25 program,
which fosters value creation around three main pillars: Environment, Social and Governance. The responsibility of each of them has been assigned to senior executives who leverage their expertise to ensure the programs objectives are achieved.
They specifically focus on BRPs employees, communities, operations and products and are broken down as follows:
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Reduce the carbon footprint relating to products and operations. |
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Ensure a positive and sustainable impact in communities and the daily lives of employees. |
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Continue to make sound strategic decisions, maintain high ethical standards and conduct operations in a sustainable
manner. |
In connection with the launch of the CSR25 Program, the Company set the following initial environmental
targets:
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Having 50% of its units sold as electric by 2035; |
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Making its facilities carbon neutral and reaching zero waste to landfill by 2030; |
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Reducing CO2 emissions from its Tier 1 suppliers [1] by 25% by
2035. |
During the first quarter of Fiscal 2024, the Company announced its first electric snowmobiles and announced
partnerships with Tread Lightly! and RideSafe.
On May 4, 2023, on the United Nations Anti-Bullying Day,
as part of its Ride Out Intimidation Program, the Company announced the creation of an online hub providing easy access to resources by its community partners, to drive positive change. On June 7, 2023, BRP extended its stand against
intimidation in the communities where it works, by partnering with Ditch the Label to launch a new web platform aimed at supporting young people aged 12-25 in Mexico, who are affected by intimidation and bullying.
On June 8, 2023, during Pride Month, as part of its commitment to individuality and inclusivity, the Company collaborated with
The Shoe Surgeon, a world-renowned Los Angeles based group of creatives that craft custom shoes, to design a series of custom Can-Am Ryker 3WV and riding shoes that pay homage to the Companys mission to ensure the open road
is accessible, inclusive and inviting.
On August 20, 2023, BRP announced that while it is committed to offering electric
options in all its existing product lines, a roll-out of EV models is planned over the next few years, with the last product introduction now expected before the end of 2027 instead of 2026 as originally planned.
On June 26, 2023, the International Sustainability Standards Board (ISSB) issued its inaugural standards - IFRS S1
General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate Related Disclosures. IFRS S1 sets out overall disclosure requirements that have been designed to help guide
companies in disclosing information about their sustainability-related risks and opportunities in a way that is useful for investors. IFRS S2 sets out specific climate-related disclosures and is to be used in tandem with IFRS S1. The Company is
currently in the process of assessing the impacts of these standards on its external disclosures.
For full details about BRPs
CSR25 program, its initiatives, and the most recent CSR report, unveiled on June 1st, 2023 please visit the Corporate Social Responsibility section at (www.brp.com).
[1] Tier 1 suppliers are the suppliers that the Company directly contracts with.
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BRP Inc. |
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Managements Discussion and Analysis |
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