Benzinga | Jul 12, 2021 04:17PM EDT

The AZEK Company Receives +Vantage Vinyl Verification, Demonstrating Leadership Across Three Guiding Principles: Resource Recovery, Emissions, and Health & Safety

The AZEK Company (NYSE:AZEK) ("AZEK" or the "Company") is pleased to announce it has successfully met the voluntary requirements of +Vantage Vinyl(tm), a first-of-its kind industry-wide sustainability initiative that engages companies across the entire U.S. vinyl value-chain.

Companies that showcase the +Vantage Vinyl mark have undergone verification by third-party GreenCircle Certified to confirm they are honoring the program's guiding principles, which focus on resource recovery, emissions, and health & safety, as well as fostering collaboration and open communication. The initiative's structure ensures that verified companies, like AZEK, are advancing the sustainability journey of the vinyl industry in alignment with targeted United Nations Sustainable Development Goals (UN SDGs).

"At The AZEK Company, we have made it clear that we believe our success as a business is inextricably linked to our performance on sustainability initiatives, including the development and expansion of our innovative plastic recycling programs, and we are committed to continuous improvement. The +Vantage Vinyl certification underscores and validates these efforts, and we will display it proudly," Jesse Singh, CEO of The AZEK Company, said. "We hope that in leading by example we can inspire other companies across the vinyl industry to join us in creating a more sustainable future."

To secure the +Vantage Vinyl mark, AZEK has proven that it meets the requirements outlined by the program's guiding principles and has integrated sustainability activities and key performance indicators required of the initiative into the business. Many of these activities were outlined in AZEK's first Environmental, Social and Governance (ESG) report, published in May 2021, which, among other things, include:

* Details on AZEK's FULL-CIRCLE PVC Recycling(tm) program, the first of its kind;

* AZEK's commitment to use one billion pounds of recycled material in the production of its products annually by the end of 2026;

* Results of a peer-reviewed Life Cycle Assessment (LCA), which showed that AZEK's leading TimberTech(r) decking products outperform sustainably harvested treated-pine decking on a 100-year total Global Warming Potential basis; and

* Formalization of board-level oversight of sustainability and ESG initiatives, as well as a commitment to integrate ESG performance into management's annual incentive plan.

+Vantage Vinyl is a sustainability initiative of the Vinyl Sustainability Council (VSC), a self-funded business council advancing sustainability in the vinyl industry. It is the only sustainability initiative that allows participation from all companies within the entire vinyl value chain with U.S. operations, ranging from raw material manufacturers and suppliers to final product manufacturers and retailers.

"Congratulations to The AZEK Company for their commitment to sustainable business practices as represented in their verification of meeting the requirements of +Vantage Vinyl," Jay Thomas, VSC Executive Director, said. "Continuous improvement of sustainability is a critical initiative of the vinyl industry. By verifying through +Vantage Vinyl, The AZEK Company has demonstrated its leadership in advancing the sustainability of its company and the entire industry. We look forward to our continued collaboration and partnership in the +Vantage Vinyl program."