MEMPHIS, Tennessee, January 7, 2022– (COMMERCIAL THREAD) –Front Door, Inc. (NASDAQ: FTDR), the nation’s leading provider of home service plans, today released its first corporate sustainability report. Frontdoor is committed to developing environmental, social and governance (ESG) initiatives that enhance its value as a service provider, employer and global corporate citizen.
The company’s sustainable development journey has been marked by significant initiatives and impacts since the creation of the company. This report reflects the company’s dedication to transparency in action and highlights its work in areas such as corporate governance, information privacy and security, employee relations and diversity and inclusion, community relations and environmental sustainability.
“We have made significant progress in our three years as a stand-alone business, and I am proud of the meaningful work our team is doing in this area,” said Rex Tibbens, President and CEO of Frontdoor. “We are only in the early stages of our journey, but we are committed to continuing to strengthen our practices and disclosures and to operate in a way that benefits those around us. “
In its 2021 Sustainability Report, the company shares an overview of its activities in four key areas: strengthening the business, supporting its employees, serving communities and supporting the world.
Highlights from Frontdoor’s 2021 Sustainability Report include:
Home appliance entrepreneurs who have taken advantage of Streem technology, which uses augmented reality, computer vision and machine learning, to facilitate more remote service calls reported a 6-7% reduction in service calls. on-site diagnostic service trips from January 1, 2021 to November 30, 2021.
The gateway and the economy are based on a skilled workforce. In 2021, Frontdoor invested in the next generation of entrepreneurs in partnership with two trade schools, awarding more than two dozen scholarships to students pursuing careers in the skilled trades.
Creating a vibrant and productive workforce begins with a rewarding compensation package. Frontdoor offers competitive compensation, including a minimum wage of $ 15, which is benchmarked and screened for fairness.
Frontdoor received more than 2 million service requests for appliances, water heaters and HVAC systems for the twelve months ended October 31, 2021, helping to improve the efficient use of natural resources and avoid waste through repair and refurbishment.
“The 2021 Sustainability Report is the first in a long series and demonstrates our belief that responsibility begins with accountability,” Tibbens said. “As we move forward, we will strive each year to make progress in the areas outlined in the document and to ensure that our business practices are impactful, meaningful and sustainable over time.”
Visit frontdoorhome.com to view or download the company’s full sustainability report. The report incorporates information under the frameworks of the Sustainability Accounting Standards Board (SASB) and the Climate-Related Financial Disclosure Task Force (TCFD).
About the front door
Frontdoor is a company obsessed with the idea of owning a hassle-free home. With services powered by people and enabled by technology, it is the parent company of four brands of home service plans: American Home Shield, HSA, Landmark and OneGuard, as well as ProConnect, a membership service for the demand for home repairs and maintenance; and Streem, a technology company that enables businesses to serve their customers through an enhanced augmented reality, computer vision and machine learning platform. Frontdoor serves 2.2 million customers across the United States through a network of approximately 17,500 pre-qualified contractors that employ approximately 62,000 technicians. The company’s customizable home service plans help customers protect and maintain their homes against costly and unexpected outages of critical home systems and devices. With 50 years of home service experience, the company responds to more than four million service requests each year. For more details, visit frontdoorhome.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations and beliefs of management, as well as a number of assumptions regarding future events. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results may differ materially from those expressed or implied. Reports filed by Frontdoor in accordance with United States securities laws contain discussions of these risks and uncertainties. Frontdoor assumes no obligation and expressly disclaims any obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Readers are referred to the documents filed by Frontdoor with the United States Securities and Exchange Commission (which are available in the SEC’s EDGAR database at www.sec.gov and through the Frontdoor website at investors.frontdoorhome.com).
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220107005523/en/