Toll Brothers, Inc., the luxury home builder, has published its first environmental, social and governance (ESG) report.
For its first ESG Report, Toll Brothers said that it utilized industry-specific standards from the Sustainability Accounting Standards Board (SASB) as a basis for identifying topics of relevance for the company and the investment community. SASB is an independent nonprofit organization that sets standards to guide the disclosure of financially-material sustainability information by companies to their investors.
The initial Toll Brothers ESG Report can be found at TollBrothers.com/ESG.
“We are pleased to release our inaugural ESG Report, setting a benchmark for our accomplishments on a range of environmental, social and governance matters,” said Douglas Yearley, Toll Brothers chairman and CEO. “Since Toll Brothers was founded in 1967, we have taken seriously our responsibilities to the broader communities in which we build and to the environment. Our board of directors and senior management team believe our ESG program is an important part of who we are as a company, and we look forward to continuing to share our progress on these initiatives.”
Yearley noted that, in preparing the report, the home builder had a number of constituents and stakeholders in mind. This includes the investment community, shareholders, Toll Brothers employees, home buyers and renters, trade partners, and the cities and towns where the company builds.
“We hope this report will give each of them a better understanding of our company and how we integrate environmental, social and governance practices into our business every day,” Yearley said.
According to Yearley, “As an industry, home builders have an incredible opportunity to make a positive impact on our nation, both as developers bringing much-needed housing to a country with a tremendous housing shortage, and as major job creators as the nation’s economy rebounds from the challenges caused by the pandemic. This information is the first step in documenting our responsibilities and contributions in the many important facets of ESG reporting.”
Toll Brothers builds in 24 states with the company operating its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. Based in Fort Washington, Pa., the builder also operates its own lumber distribution, house component assembly, and manufacturing operations.