Pet Valu, Canada’s leading retailer of pet food and supplies, has published its 2023 Environmental, Social, and Governance (ESG) report. Now in its second year, the report details the company’s initiatives to enhance sustainability, improve operational standards, and strengthen its franchise network, it said in a news release.
“Building on a strong foundation of long-standing responsible and sustainable business practices, we took incremental steps in 2023 to enhance our oversight and management of key ESG factors,” said Richard Maltsbarger, Chief Executive Officer of Pet Valu. “The strength of our key success metrics is a clear indicator that our strategies continue to deliver better outcomes and value to stakeholders while pursuing our mission to be Canada’s preferred pet retailer.”
Founded over 45 years ago, Pet Valu said it has built a reputation as a trusted source for pet food and supplies with more than 800 locations across Canada. Known for its knowledgeable staff and premium products, Pet Valu serves pet parents through both its stores and digital platform, offering over 10,000 competitively priced items, including proprietary brands and holistic options. Headquartered in Markham, Ontario, the company’s shares trade on the Toronto Stock Exchange under the symbol PET.
For more information and to access Pet Valu’s 2023 ESG report, visit investors.petvalu.com/ESG.
Key ESG Milestones
Pet Valu’s 2023 ESG report focuses on multiple areas where the company has made tangible progress, including franchise support, animal care, emissions reductions, supply chain governance, and product safety, said the company.
- Franchise Support and Engagement:
The company helped establish a franchisee council for Les Franchises Chico Inc. (“Chico”), enabling franchisees to have a more active voice in corporate decisions. Additionally, Pet Valu introduced “Safe & Ready” assessments across the Chico banner to enhance store safety and readiness. - Enhanced Working Environment for Animal Care Experts (ACEs):
Pet Valu invested over $1 million to upgrade safety technology for its employees, referred to as ACEs. The company also launched a curated program to foster high-potential talent and provided transparency into the ethnic diversity within its ACE workforce. - Emissions Reduction Initiatives:
Pet Valu focused on emissions reduction by consolidating parts of its distribution network into larger, more energy-efficient facilities and advancing various low-emission initiatives, reflecting its commitment to improving its carbon footprint. - Strengthened Supply Chain Governance:
The company published its first “Modern Slavery Report” to outline the policies and due diligence procedures it has implemented to combat forced or child labor risks within its supply chain. Additionally, it required new proprietary brand manufacturers in Asia and South America to complete third-party social audits to maintain product safety and ethical standards. - Product Safety and Quality Enhancements:
Pet Valu emphasized its commitment to quality by requiring acceptable third-party audits from new proprietary brand manufacturers, ensuring that products meet high safety and ethical standards.
Looking Forward
Maltsbarger praised the contributions of Pet Valu’s ACEs and franchisees, who bring the “Four Paws” service model to life for customers and communities. “I am proud of the actions of our ACEs and franchisees, who embody Our Four Paws service model to deliver holistic value to devoted pet lovers and the communities we serve,” he said. “Together with industry best practices and stakeholder feedback, we plan to make further enhancements to our strategies and disclosures, while preparing for forthcoming disclosure obligations.”
Related articles:
