NEW
YORK, Oct. 24, 2023 /PRNewswire/ -- Peloton
(NASDAQ: PTON) published its third annual environmental, social,
and governance (ESG) report today, highlighting progress made in
the 2023 fiscal year towards its social and environmental
sustainability goals.
"Our ESG work is an important part of Peloton's strategy and the
achievements in this year's report represent our ongoing commitment
to our principles and values." said Barry
McCarthy, CEO and President of Peloton. "As we look to the
years ahead, we will continue to work towards our stated goals,
accelerate in places where the bar continues to rise quickly, and
share progress along the way."
Healthier planet, healthier people
This year, Peloton took an important step forward on climate
action by committing to set near-term targets aligned with the
Science Based Targets initiative (SBTi), to address Scope 1, 2 and
3 emissions. In line with its commitment to transparency, Peloton
also continued to voluntarily report emissions via the CDP Climate
questionnaire and expanded its disclosures in line with guidance
from the Task Force on Climate-Related Financial Disclosures
(TCFD).
Other updates include progress on the development of product
carbon footprints for Peloton's connected fitness
units1 and expanding circular business
models with Peloton Certified Refurbished and Rental programs. The
company also completed its first renewable energy certificate
purchase, making progress towards its 2026 fiscal year goal to
source 100% renewable energy for its direct operations.
These combined efforts are grounded in Peloton's wider ambitions
to improve the environmental impact of its business and pursue
initiatives supporting a circular economy.
Advancing inclusive and equitable wellbeing
experiences
Core to Peloton's mission is cultivating passionate and
inclusive communities, and by the 2025 fiscal year, the company
aims to reach 500,000 people through global community engagement
programming focused on advancing health equity in fitness and
mental wellness. To achieve this, Peloton is building on two years
of social impact partnerships in action through community
investments, curated classes and content, and community
activations.
From working with Beyond Blue, one of Australia's most well-known and trusted mental
health organizations, and GirlTREK, the largest health movement and
nonprofit organization for Black women and girls in the US, to its
other social impact partners around the world, Peloton is impacting
tens of thousands of lives across the US, Canada, UK, Germany, and Australia.
Building diversity and inclusion into every part of
Peloton
Peloton remains steadfast in its commitment to cultivating an
equitable and inclusive culture that enables team members to
thrive. Within its own business, Peloton continued work with
Management Leadership for Tomorrow (MLT) to advance a more diverse
and inclusive workplace.This year, the company was proud to earn a
Silver Certification in the MLT Black Equity at Work
Program.
In the third year since the launch of the Peloton Pledge, the
company has remained dedicated to combating systemic inequity and
promoting global health and wellbeing. This year it launched a new
allyship focused training program, with the goal of equipping team
members with the skills and tools needed to embed an active
allyship culture.
In line with the Peloton Pledge, the company enlisted an
independent third-party consultant to conduct its second global pay
equity study at the close of 2023 fiscal year and confirmed it has
maintained pay equity across race and gender.
Peloton will continue to publish its ESG report annually
providing updates on its commitments and new practices. The full
ESG report can be found at investor.onepeloton.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements contained in this press release other than statements of
historical fact, including, without limitation, statements
regarding our expected financial results for the first quarter of
our fiscal year 2024; our execution and timing of and the expected
benefits from our restructuring initiative and cost-saving
measures; our supply chain management initiatives; details
regarding and the timing of the launch of products and services;
the launch of global partnership growth initiatives; our future
operating results and financial position, including our ability to
achieve positive free cash flow; our profitability; our business
strategy and plans, including subscriber and market growth and
international growth; our objectives for future operations;
statements regarding our future performance and our market
opportunity. The words "believe," "may," "will," "estimate,"
"potential," "continue," "anticipate," "intend," "expect," "could,"
"would," "project," "plan," "target," and similar expressions are
intended to identify forward-looking statements, though not all
forward-looking statements use these words or expressions.
We have based these forward-looking statements on our current
expectations and projections about future events and trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives, and financial needs. These forward-looking statements
are subject to a number of risks, uncertainties, and assumptions
and other important factors that could cause actual results to
differ materially from those stated, including, without limitation:
our ability to achieve and maintain future profitability; our
ability to attract and maintain Subscribers; our ability to
accurately forecast consumer demand of our products and services
and adequately maintain our inventory; our ability to execute and
achieve the expected benefits of our restructuring initiative and
other cost-saving measures; our ability to effectively manage our
growth and costs; our ability to anticipate consumer preferences
and successfully develop and offer new products and services in a
timely manner, or effectively manage the introduction of new or
enhanced products and services; demand for our products and
services and growth of the connected fitness products market; our
ability to maintain the value and reputation of the Peloton brand;
disruption or failure of our information technology systems or
websites; our reliance on a limited number of suppliers, contract
manufacturers, and logistics partners for our Connected Fitness
Products; our lack of control over suppliers, contract
manufacturers, and logistics partners; our ability to predict our
long-term performance and declines in our revenue growth as our
business matures; the effects of increased competition in our
markets and our ability to compete effectively; any declines in
sales of our Bike and Bike+; our dependence on third-party licenses
for use of music in our content; actual or perceived defects in, or
safety of, our products, including any impact of product recalls or
legal or regulatory claims, proceedings or investigations involving
our products; our ability to maintain, protect, and enhance our
intellectual property; our ability to stay in compliance with laws
and regulations that currently apply or become applicable to our
business both in the United States
and internationally; and other risk factors identified in the
Company's Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K reports filed with the
Securities and Exchange Commission, as such factors may be updated
in our filings with the Securities and Exchange Commission, which
are available on the Investor Relations page of our website at
https://investor.onepeloton.com/investor-relations and on the SEC
website at www.sec.gov.
You should not rely upon forward-looking statements as
predictions of future events. The events and circumstances
reflected in the forward-looking statements may not be achieved or
occur. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, performance, or achievements. Our forward-looking
statements speak only as of the date of this press release, and we
undertake no obligation to update any of these forward-looking
statements for any reason after the date of this press releaseor to
conform these statements to actual results or revised expectations,
except as required by law.
About Peloton
Peloton (NASDAQ: PTON), provides Members with expert
instruction, and world class content to create impactful and
entertaining workout experiences for anyone, anywhere and at any
stage in their fitness journey. At home, outdoors, traveling, or at
the gym, Peloton brings together immersive classes, cutting-edge
technology and hardware, and the Peloton App with multiple tiers to
personalize the Peloton experience [with or without equipment].
Founded in 2012 and headquartered in New
York City, Peloton has millions of Members across the US,
UK, Canada, Germany, Australia, and Austria. For more information, visit
www.onepeloton.com.
Contacts:
Media:
Jaisa
Dominguez
press@onepeloton.com
Investor Relations:
Peter
Stabler
investor@onepeloton.com
ESG:
April Lecato
esg@onepeloton.com
1 Connected fitness units in
scope include the Peloton Bike, Tread, and Row product
lines
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SOURCE Peloton