Yahoo Finance Trex 2023 Sustainability Report Showcases the Company’s Ongoing Progress
Employee innovation and commitment drive progress across spectrum of sustainability initiatives
WINCHESTER, Va., June 27, 2024--(BUSINESS WIRE)--Trex Company, Inc. (NYSE:TREX), the world’s largest manufacturer of high-performance, low-maintenance composite decking and railing, and a leading brand of outdoor living products, today published its 2023 Sustainability Report, "Seeing More Value in Sustainability."
Trex 2023 financials demonstrated the strength of the Trex brand, the resilience of its consumer base, and the relevance of its products, underpinned by a 30+ year commitment to sustainability based on materials circularity.
"The enduring appeal of Trex products lies in their quality, longevity, innovation and sustainability, which have been fundamental to the Trex brand since our founding," said Bryan Fairbanks, President and CEO. "We are proud of the accomplishments noted in our most recent report and, because sustainability is in our DNA, Trex will continue to use the earth’s resources wisely through recycling as we grow our business in the years to come."
Seeing More Value in Sustainability
The company’s 2023 Sustainability Report charts progress across the broad spectrum of company activities. Key points include:
Commitment to circularity. In 2023, Trex sourced more than 320 million pounds of waste polyethylene (PE) film and is proactively exploring new ways to use materials that are more challenging to recycle. Over its lifetime, the company has diverted and recycled more than 5 billion pounds of waste PE film, making Trex one of the largest recyclers of PE film bags, wraps and packaging in North America.
Innovative products. A pipeline of new Trex products is being engineered to set new standards of longevity, durability and aesthetic appeal. Trex decking — warrantied for 25-50 years, depending on the product — lasts over twice as long as today’s wood decking, meaning that for every Trex deck board used, the environmental impact from the production of two equivalent virgin wood deck boards is avoided.
Uncompromising on safety. Trex reduced its lost-time incident rate by 29% compared to 2022. The 2023 rate is less than a third of the industry average, reflecting a comprehensive program of training and awareness raising.
Creating opportunities for employees. Trex enhanced its employer value proposition, expanding its training and educational opportunities. The success of the company’s human capital programs was reflected in improved employee survey results and a reduction in voluntary turnover. Further, Trex saw advances in diversity at both the Board level and overall employment level in 2023.
Efficiency in manufacturing. Trex relentlessly pursues efficiency in its manufacturing operations to make the most from every pound of raw materials. Nearly 100% of production scrap is recycled back into the process, and the company is piloting the recovery of construction and demolition scrap.
Engaging communities. The NexTrex® community recycling programs enlisted more than 2,500 schools and civic organizations to raise awareness of recycling opportunities and diverted over 1.8 million pounds of plastic film from landfills in 2023.
External recognition. In 2023, Trex received the Lowe’s Sustainability Vendor Partner of the Year award. In addition, the company was included in Newsweek’s America’s Most Responsible Companies list and the 100 Best ESG Companies list by Investor’s Business Daily.
"Everything Trex achieves relies on the commitment and talent of our employees, and I would like to thank our entire team for making 2023 as successful as it was," Fairbanks said. "Trex is a model of a modern sustainable business fit for the future. I am extremely proud of how we have scaled our operations to achieve our success by finding value in sustainability."
Learn more in the full 2023 Trex Sustainability Report. To locate information or find the latest on the Company’s work, contact Sustainability@Trex.com.
About Trex Company
For more than 30 years, Trex Company [NYSE: TREX] has invented, reinvented and defined the composite decking category. Today, the company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing, and a leader in high performance, low-maintenance outdoor living products. The undisputed global leader, Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex® brand. Based in Winchester, Va., Trex is proud to have been named America’s Most Trusted® Outdoor Decking* 4 Years in a Row (2021-2024). The company was also recently included on Barron’s list of the 100 Most Sustainable U.S. Companies 2024, named one of America’s Most Responsible Companies 2024 by Newsweek and ranked as one of the 100 Best ESG Companies for 2023 by Investor’s Business Daily. For more information, visit Trex.com.
You may also follow Trex on Facebook (trexcompany), Instagram (trexcompany), X (Trex_Company), LinkedIn (trex-company), TikTok (trexcompany), Pinterest (trexcompany) and Houzz (trex-company-inc), or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).
*Trex received the highest numerical score in the proprietary Lifestory Research 2021-2024 America’s Most Trusted® Outdoor Decking studies. Study results are based on experiences and perceptions of people surveyed. Your experiences may vary. Visit www.lifestoryresearch.com.
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