Coinstar, Inc. Reimagines Responsibility; Releases First Annual Corporate Social Responsibility Report
Announces achievements and future commitments to employees, the environment and community.
BELLEVUE, Wash., May 15, 2012 /PRNewswire/ -- Coinstar, Inc. (Nasdaq: CSTR) today released its first Corporate Social Responsibility (CSR) Report, "Reimagining Responsibility." The report highlights the company's engagement and sustainability efforts and shares future commitments to advancing the long-term well-being of Coinstar, its employees, the environment and the communities it serves.
"Since establishing a CSR office in 2010, we have made incredible headway in building a culture of corporate responsibility and sustainability in a very short amount of time," said Paul Davis, chief executive officer at Coinstar, Inc. "At Coinstar, success is measured by more than just the bottom line; it's about our ability to continue to grow profitably and delight our customers as well as being a partner in our communities, a steward of the environment, and an exceptional place to work. We are proud of our accomplishments so far and are dedicated to continuing on our CSR journey."
The report highlights Coinstar's initiatives as part of its commitment to building a culture of corporate responsibility and sustainability. Coinstar has set goals to reduce the company's carbon footprint, increase charitable giving and boost employee volunteerism. In 2011 Coinstar achieved a four percent absolute reduction in greenhouse gas emissions compared to the 2010 baseline, even in the midst of rapid growth. Operational greenhouse gas emissions decreased by 15 percent, normalized by number of kiosks deployed.
As part of Coinstar's aim to provide a full portfolio of products, services, and investments that are innovating for the greater good, the company's new ventures team considers how new products could better address the changing needs of consumers and society. Among them, ecoATM, a strategic investment, keeps toxic electronic components out of landfills and unlocks remaining value in electronic devices; and Gizmo provides deals on refurbished and tested electronics – offering an environmentally-friendly solution for previously-owned electronics.
"At Coinstar, CSR is viewed as both a social responsibility and as a business driver," said Scott Di Valerio, chief financial officer at Coinstar, Inc. "We believe that there is a combined value in providing automated retail solutions that contribute to the communities where we do business."
Additional report highlights include
Coinstar committed to doubling charitable giving in 2012 and increasing the percentage of employees participating in company-sponsored volunteer events to 50 percent by 2015.
- Employee volunteerism increased by 22 percentage points in 2011.
- Charitable giving grew more than seven-fold from 2010 to 2011.
Coinstar's goal is to reduce operational greenhouse gas emissions by five percent by 2012 and fifteen percent by 2015, normalized by number of kiosks and compared to a 2010 baseline.
- Coinstar has already achieved its 2015 goal to reduce operational greenhouse gas emissions by 15 percent, when normalized by number of kiosks deployed.
- The Coinstar coin-counting business held a "Fuel Misers" competition during 2011 to reduce overall fleet fuel consumption, resulting in a savings of 13,881 gallons of fuel.
- In the Redbox line of business, a focus on efficiency led to a reduction in miles driven by field service representatives by 5.5 percent per driver, even while the number of kiosks they serviced increased by 15 percent.
Coinstar is committed to growing employee participation in its company-sponsored wellness challenge to 45 percent in 2012.
- 41 percent of Coinstar employees completed the Global Corporate Challenge, a 16-week competition to improve wellness in 2011.
The full report is now available online at http://www.coinstarinc.com/media/download/csr_report.pdf.
About Coinstar, Inc.
Coinstar, Inc. (Nasdaq: CSTR) is a leading provider of automated retail solutions offering convenient services that make life easier for consumers and drive incremental traffic and revenue for retailers. The company's core automated retail businesses include the well-known Redbox® self-service movie and video game rental and Coinstar® self-service coin-counting brands. The company has approximately 36,800 DVD kiosks and 20,200 coin-counting kiosks in supermarkets, drug stores, mass merchants, financial institutions, convenience stores, and restaurants. For more information, visit http://www.coinstarinc.com/.
SOURCE Coinstar, Inc.