SAN DIEGO — Petco Health and Wellness Company, Inc., shared progress toward the improvement of its environmental sustainability, DEI and employee support, and responsible pet care standards as part of its 2022 ESG Report.
"Petco's goal of being the most trusted resource in pet care means continuing to improve lives by offering the fully integrated services and premium, sustainable products pet lovers are looking for," said Ron Coughlin, chief executive officer at Petco. "Whether it's offering sustainable products and services, expanding access to pet health and wellness or making tangible progress in our diversity, equity and inclusion (DEI) efforts, we're committed to delivering on our mission while driving growth and providing long-term value to our stakeholders. I'm delighted to share how we supported these goals in 2022."
According to the company, Petco grew its net revenue by 3.9% to $6 billion in 2022 and added roughly 1 million active customers to its shopper audience. The company hopes to stoke continued growth by answering consumer and workforce demands in the areas of environmental sustainability, corporate governance, pet welfare, health and wellbeing, DEI and employee wellbeing, and making pet care more accessible, among other initiatives.
Environmental highlights from the report include the elimination of more than 6 million single-use plastic bags from Petco’s owned-brand portfolio, as well as the production of roughly 780 MWh of electricity generated via solar panels. The company also transitioned to more sustainable pet care center signage, printing 95% of that signage using more sustainable materials.
The company also ranked in the top 12% of North American retailers named in the S&P Global Corporate Sustainability Assessment (CSA), marking the pet retailer’s first appearance on the CSA list. Additionally, Petco ranked 11th among Newsweek’s list of “America’s Most Responsible Companies.
"By continuing to drive industry leadership through investment and innovation, we are making progress toward achieving bold commitments, like our strategy to increase our assortment of sustainable pet products to 50% by the end of 2025," said Francesca Mahoney, vice president of sustainability at Petco. "Our sustainability strategy is in direct response to customer demand for quality, sustainable products and services that improve their pets' health and wellbeing."
To continue supporting its workforce, Petco shared it has made progress on its goals of hiring more people of color and women, which made up 42% and 65% of new hires in 2022, respectively. The company also instituted a base wage of at least $15 an hour for all non-trainee workers.
The retailer also kept healthcare premiums flat for the third year in a row, and made additional investments into new employee benefits such as fertility care, medical travel and mental health support. Petco also shared it has built on its employee resource groups to engage, educate and connect its workforce.
In support of its mission to “set the standard” in responsible pet care, Petco shared it was the first pet retailer to receive an American Humane Certified Seal of Approval. The company’s actions to halt the sale of human- or bark-activated shock collars in 2020, followed by its removal of traditional rawhide chews in 2021, also contribute to this mission.
The retailer also raised $26 million through its Petco Love foundation, through which it reunited nearly 18,000 lost pets with their families and granted a total of $9 million to shelters and animal welfare organizations in need.
Read more about sustainability efforts in the pet food and treat industry.