U-Haul Holding Company
Climate Impact & Sustainability Data (2016, 2023-03-31)
Reporting Period: 2016
Environmental Metrics
Total Carbon Emissions:168,304 tCO2e/year
Scope 1 Emissions:67,268 tCO2e/year
Scope 2 Emissions:98,366 tCO2e/year
Scope 3 Emissions:654 tCO2e/year
Renewable Energy Share:Not disclosed
Total Energy Consumption:1,616,290 GJ/year
Water Consumption:10,910,000 m3/year
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Health and Safety
- Environmental Stewardship
- Community Relations
- Governance
Environmental Achievements
- Reduced lost-time and recordable injuries at Ki/g901lada/g859
- Improved incident reporting and job safety analysis at Ki/g901lada/g859
- Completed the first “Large Scale Accident Prevention Report” at Ki/g901lada/g859 in accordance with Turkey’s Legislation on Reducing Major Industrial Accident Risks (BEKRA)
- Recertified under OHSAS 18001 and ISO 14001 at Efemçukuru
- No major environmental incidents or non-compliances at Efemçukuru
- Completed the first “Large Scale Accident Prevention Report” at Efemçukuru in accordance with BEKRA
- Obtained ISO 39001 and ISO 50001 certifications at Stratoni
- Finalized and published an online environmental monitoring database at Stratoni
- Successfully transitioned to a 24/7 operation at Stratoni
- Completed Phase I retreatment at Olympias
- Environmental reclamation of the old Olympias tailings management facility is ongoing
- Converted waste management at Skouries from thickened tailings to filtered tailings
Social Achievements
- Reduced Lost-Time Injury Frequency Rate (LTIFR) by 10%
- Increased local procurement in Greece, spending €20.4 million on local supplies from the Municipality of Aristotle
- Provided subsidies and donations to schools and universities at Ki/g901lada/g859
- Provided medical examinations, supplies and emergency support to 1,477 people from local villages near Efemçukuru
- Supported local tourism agencies, government and hotels in Greece
- Partnered with academic institutions to train local residents in rural farm practices in Greece
- Organized Hellas Gold’s annual summer internship program in Greece
Governance Achievements
- Became a signatory to the United Nations Global Compact
- Developed reporting systems compliant with the ESTMA guidelines
- Finalized Eldorado’s Global Health & Safety Directive and are now in the process of implementing the Directive with safety teams.
- Completed a preliminary review of the Voluntary Principles and have identified a number of gaps to be addressed in 2017.
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Produce between 365,000 and 400,000 ounces of gold
- Deliver cash operating costs between $485–$535 per ounce
- Maintain gold reserves between 20 and 25 times the production rate
- Maintain a debt-to-capital ratio of less than 30%
- Zero fatalities
- Achieve a minimum 10% year-over-year improvement in the Total Recordable Injury Frequency Rate
- Achieve a minimum 5% year-over-year improvement in the Lost-Time Injury Frequency Rate
- Have no reportable environmental incidents
- Maintain adherence to the ICMC at all sites that use cyanide and design projects to ICMC standards upon start-up
- Establish energy and greenhouse gas emission targets at operating sites
- Publish Eldorado’s first public report in accordance with the ESTMA by May 31, 2017
- Establish and implement a Global Security Directive
- Introduce human rights training for all employees and contractors
- Conduct training for all armed security personnel in accordance with the Voluntary Principles
- Complete implementation of Eldorado’s formal grievance mechanism
Environmental Challenges
- Lower than anticipated gold production at Ki/g901lada/g859 due to slower leach rates
- Increased Total Recordable Injury Frequency Rate (TRIFR) despite a reduction in LTIFR
- Fatality at Stratoni mine
- Delays in obtaining permits and licenses in Greece for Olympias and Skouries projects
- Political and economic uncertainty in operating jurisdictions
Mitigation Strategies
- Installation of new leach trains at Ki/g901lada/g859 to reduce leach pad inventory
- Implementation of Eldorado’s Global Health & Safety Directive
- Increased site safety inspections in Greece to identify and mitigate hazards
- Engagement with Greek government, unions, and industry associations to address permitting delays
- Proactive engagement with governments to advocate for clear, fair, and transparent regulations
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Prioritizing local procurement and training of suppliers
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: GRI G4 Core
Certifications: ISO 14001, OHSAS 18001, ISO 50001, ISO 39001, ICMC
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Goal 3
- Goal 6
- Goal 8
- Goal 9
- Goal 13
Eldorado's activities contribute to these goals through initiatives related to health and safety, water management, economic growth, infrastructure development, and climate action.
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Not disclosed
Reporting Period: 2023-03-31
Environmental Metrics
ESG Focus Areas
- Sustainability
Environmental Achievements
- Since 1945, U-Haul has incorporated sustainable practices into its everyday operations. The basic business premise of equipment sharing helps reduce greenhouse gas emissions and reduces the inventory of total large capacity vehicles. The company continues to look for ways to reduce waste and is dedicated to manufacturing reusable components and recyclable products.
Social Achievements
- We believe our workforce is a reflection of, and as diverse as, the customers we serve. Discrimination is not accepted. We focus on our system members’ wellness (physical, emotional, and financial) through health benefits, a wellness program, mental health support, work-life balance initiatives, and financial literacy programs. We encourage life-long personal and professional development through online courses and tuition reimbursement. We value our relationship with communities through volunteer opportunities and in-kind donations.
- As of March 31, 2023, we employed approximately 33,100 people in the United States and approximately 2,000 in Canada with approximately 99% of these system members working within Moving and Storage and approximately 51% of these system members working on a full-time basis.
Governance Achievements
- The Company has a Code of Ethics that applies to all directors, officers and employees of the Company, including the Company’s principal executive officer and principal financial officer. A copy of our Code of Ethics is posted on U-Haul Holding Company’s website at investors.uhaul.com/governance.aspx.
Climate Goals & Targets
Environmental Challenges
- Supply chain disruptions slowed the acquisition of new trucks.
- Cybersecurity incident in 2022 resulted in unauthorized access to customer data and subsequent lawsuits.
- Inflationary pressures increased the cost of doing business.
- Highly leveraged capital structure.
- Competition in the truck rental and self-storage industries.
- Potential for increased regulation favoring electric vehicles and the lack of adequate charging infrastructure.
- Environmental laws and regulations.
- Liability risks associated with fleet operations, product sales, and facility operations.
Mitigation Strategies
- Slowed the sale of trucks from the existing fleet in response to supply chain issues.
- Enhanced security measures to prevent further unauthorized access after the cybersecurity incident.
- Implementing new initiatives to improve customer service (expanding U-Haul app capabilities, improving equipment management, effective marketing, expanding accessibility, and enhancing staffing).
- Utilizing reinsurance and derivative contracts to mitigate risk of loss.
- Extensive security protocols, backup systems, and alternative procedures to mitigate IT risks.
- Remediation plan for hazardous substances on some real estate.
- Proactive risk management assessments and providing customers with online resources for proper product/service use.
Supply Chain Management
Climate-Related Risks & Opportunities
Transition Risks
- Regulatory pressure in connection with the introduction and expansion of electric, autonomous and connected rental vehicles
- Growing insistence that the future of the economy will be based on an all-electric solution
Sustainable Products & Innovation
- Reusable components and recyclable products