Company Increases Philanthropic Financial Donations, Enhances Transparency of Diversity, Equity and Inclusion Metrics and Achieves 97% Pay Equity
Spin Master Corp. issued its third annual Corporate Social Responsibility report (2021 CSR Report), articulating the Companyâ€™s environmental, social and governance goals and performance for 2021.
â€œSpin Master has always had a noble purpose, to create magical play experiences for children and their families,â€ said Max Rangel, Spin Masterâ€™s Global President and CEO. â€œOur commitment to this purpose has been unwavering, and in these challenging times the power of play has been one way we can make a meaningful impact in many homes around the world. We value the trust placed in Spin Master by kids and their parents and are committed to being responsible citizens and custodians of the world that these children will one day inherit.â€
With a vision of bringing kids and families together through the timeless magic of play, Spin Master seeks to be an inclusive employer, enhance the communities in which it operates and minimize environmental impacts with efforts in four key areas: products, people, communities and environment.
Products – Spin Master is committed to providing children and families with the safest and highest quality toys, entertainment content and digital games.
â€¢ Zero consumer recalls in over a decade
â€¢ 97% of manufacturing facilities audited and remediated through the Ethical Toy Program
â€¢ Plans to launch new Mindful Classics games line made with FSC-certified wood and paper, bamboo and recycled plastic in the fall of 2022
People – Spin Master is committed to investing in employeesâ€™ well-being and development and to fostering an inclusive workplace where everyone can thrive, grow and ultimately have fun
â€¢ Women represent 40% of Senior Management in the Company (director level and above)
â€¢ Achieved 97% gender pay equity and set a target to achieve 100% in the future
â€¢ 84% of respondents to the Companyâ€™s employee engagement survey indicated that they are proud to work at Spin Master
â€¢ For the first time, the 2021 CSR Report provides employee representation data for North America
â€œOur talented team is the driving force behind our purpose of creating magical experiences for children and their families,â€ said Tara Deakin, Spin Masterâ€™s EVP and Chief People Officer. â€œThis past year, we continued to enhance our employee experience on multiple dimensions from compensation enhancements to bolstering mental health support and evolving our diversity, inclusion and equity programming.â€
Communities – Through philanthropic giving, volunteering and toy donations, Spin Master gives children in communities around the world the opportunity to grow, explore and learn through the power of play.
â€¢ Increased philanthropic financial giving with $1.95 M in financial* donations and 170,000 toys, impacting 300,000 children globally
â€¢ Established national philanthropic partnerships with Boys and Girls Clubs of America, The Learning Partnership and Childrenâ€™s Aid Foundation of Canada
â€¢ Executed three Toy Movements delivering 53,000 toys to children in Kenya, Nicaragua and the Democratic Republic of Congo
â€¢ Launched The Future of Play Scholarship and awarded scholarships for seven youth from underrepresented communities studying in the fields of toy design, animation and digital game design
Environment – Spin Master recognizes the need to act in support of the environment and to minimize the impact of its operations, for children and families today and generations to come.
â€¢ Offset 10,186 metric tonnes of carbon representing 100% of Scope 1, 2 and some Scope 3 emissions
â€¢ Launched toy recycling programs in two markets, the U.S. and Australia
â€¢ Commitment to create a climate action plan by the end of 2022
The 2021 CSR Report includes Sustainability Accounting Standards (SASB) indicators for Toys & Sporting Goods and material indicators from the Global Reporting Initiative Standards. With a commitment to continuous improvement in reporting, the 2021 CSR Report also expanded including qualitative TCFD and UN Sustainable Development Goals. More details regarding Spin Masterâ€™s CSR efforts can be found here.
*Financial donations include monetary contributions to registered charities, costs of goods of donated products and direct operational costs association with donations.