CarMax Releases 2023 Responsibility Report
15 Mayo 2023 - 10:54AM
CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used
cars, announced the release of its 2023 Responsibility Report.
The report features expanded disclosures regarding CarMax’s
environmental, social and governance priorities, including details
on the company’s relevant climate-related risks and opportunities
in a manner aligned with the recommendations of the Task Force on
Climate-Related Financial Disclosures (TCFD). In addition, the
report provides updates on several key initiatives, including
progress on meeting 2025 greenhouse gas emissions reduction goals,
enhancements to the company’s diversity and inclusion program, and
the company’s expanded impact on local communities.
“We are excited to share our 2023 Responsibility Report, which
outlines the meaningful progress we have made over the last year in
our social impact and sustainability efforts,” said Bill Nash, CEO
of CarMax. “There are many notable developments outlined in this
report, and we are particularly proud of our associate culture that
thrives with inclusivity increasingly at its center, our enhanced
disclosure and transparency on climate-related issues, and the
tangible impact we are making in our local communities. Thanks to
these efforts, we are confident that we are well-positioned to
contribute to a better society for everyone and drive the long-term
sustainable value of CarMax for all our stakeholders.”
A few key initiatives that are outlined further in the report
include:
- CarMax initiated an intensive process to identify and align on
the company’s climate-related risks and opportunities, allowing for
enhanced disclosure and improved management of the business and
long-term planning, as well as ensuring CarMax remains
well-positioned to comply with potential climate-related reporting
mandates.
- CarMax finalized its greenhouse gas reduction roadmap, which
clearly outlines the company’s path to achieving its 2025 climate
goal to reduce Scope 1 and Scope 2 greenhouse gas emissions by 50%
as compared to the 2018 baseline. The reduction roadmap also serves
as a guide for CarMax as it identifies and pursues projects that
will reduce its carbon footprint.
- CarMax made meaningful progress in 2022 by reducing greenhouse
gas emissions by more than 10% as measured by its 2025 goal.
- CarMax remains focused on the intention to become the leading
retailer of used electric vehicles (EVs) in the industry and this
year focused on continually improving its ability to recondition a
broader range of hybrid and EV models, to assess used batteries,
and to profitably acquire, price, and sell used EVs. Additionally,
through subsidiary Edmunds and on CarMax.com, CarMax has
meaningfully enhanced its focus on educational content aimed at
informing and supporting first-time EV and hybrid vehicle
owners.
- CarMax increased its ethnic and racial diversity in leadership
positions from 29% in FY22 to 30.7% in FY23. Over the same period,
the company increased female representation in leadership positions
from 23.4% to 24.2%.
- CarMax formalized its supplier diversity plan with a multi-year
roadmap to ensure that vendors have equal opportunities to do
business with the company.
- CarMax has embedded several ESG metrics into its Annual
Incentive Bonus Plan, including greenhouse gas reduction and
diversity and inclusion training goals.
- In FY23, the company made an even greater impact on its
communities, with 100% of company locations participating in local
volunteering events and $10 million invested through The CarMax
Foundation and the company’s corporate philanthropy efforts.
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About CarMax
CarMax, the nation’s largest retailer of used autos,
revolutionized the automotive retail industry by driving integrity,
honesty and transparency in every interaction. The company offers a
truly personalized experience with the option for customers to do
as much, or as little, online and in-store as they want. During the
fiscal year ended February 28, 2023, CarMax sold approximately
810,000 used vehicles and 590,000 wholesale vehicles at its
auctions. In addition, CarMax Auto Finance originated nearly $9
billion in receivables during fiscal 2023, adding to its nearly $17
billion portfolio. CarMax has over 240 stores, more than 30,000
associates, and is proud to have been recognized for 19 consecutive
years as one of the Fortune 100 Best Companies to Work For®. CarMax
is committed to making a positive impact on people, communities and
the environment. Learn more in the 2023 Responsibility Report. For
more information, visit www.carmax.com.
- CarMax Releases 2023 Responsibility Report
Public Relations
CarMax
(855) 887-2915
PR@carmax.com
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