Ritchie Bros. Auctioneers Incorporated
Climate Impact & Sustainability Data (2020)
Reporting Period: 2020
Environmental Metrics
ESG Focus Areas
- Environmental
- Social
- Governance
Social Achievements
- Launched #MYRBStory employee experience program focusing on moments that matter.
- Launched a Black Lives Matter employee resource group.
- Restructured customer care teams to better align with customer experience.
Governance Achievements
- Published inaugural sustainability report.
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impacting global operations, travel restrictions, economic uncertainty, and business slowdowns.
- Constraints on equipment movement to and from auction sites, particularly in Asia and Europe.
Mitigation Strategies
- Implemented business continuity plans, including work-from-home orders and travel restrictions.
- Transitioned all live on-site auctions to online bidding.
- Implemented Time Auctioned Lots (TAL) solution for selected events.
- Took steps to be prudent on expenses and maximize positive cash flows.
- Developed comprehensive contingency plans for prolonged adverse impact of the pandemic.
- Amended and extended credit facilities.