2021 ESG Report
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DOLLARAMA ESG REPORT JUNE 2021 SERVING CANADIANS WITH PURPOSE DOLLARAMA ESG REPORT ABOUT US | ESG GOVERNANCE | OUR PEOPLE | OUR PRODUCTS | OUR SUPPLY CHAIN | OUR OPERATIONS | ADDITIONAL INFORMATION | ESG APPENDICES 2 PROVIDING AFFORDABLE, EVERYDAY ESSENTIALS AND MORE KEY FIGURES Dollarama is a recognized Canadian value retailer offering a broad assortment of affordable consumable products, general merchandise and seasonal items through a diverse and dynamic team of over 24,000 people. Our products, available at select, fixed-price points up to $4.00 appeal to all demographics and income ranges. Our corporately operated stores across Canada provide compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Select products are also available, by the full case only, through our online store. Internationally, we own a majority interest in Dollarcity, a fast-growing Latin American value retailer with over 3,000 employees. Dollarcity offers a similar assortment of consumable products, general merchandise and seasonal items at select, low fixed price points in local currencies through its over 264 locations in Colombia, El Salvador and Guatemala. Dollarama is committed to managing its operations and resources responsibly, and serving its customers with purpose to create sustainable, long-term value for all its $4B+ 24,000+ 6,000 in 2020 employees everyday and stakeholders. revenues across Canada seasonal products A CLEAR PURPOSE STRONG VALUES 1,356 14M 700+ Dollarama stores square feet of Canadian To provide Canadians from ENTREPRENEURIAL and counting at retail space and suppliers and all walks of life with the year end 2.16M square feet service providers CUSTOMER-FOCUSED of distribution and and 800+ overseas best quality and value on warehousing space vendors every dollar they spend, and VALUE-ORIENTED provide them with proximity PASSIONATE 5M+ 80% 3,000+ and convenient access to customers of Canadian store employees affordable, everyday items shop weekly households live promoted to new AGILE AND that address their needs and at Dollarama within 10 km positions within SOLUTION-DRIVEN whether in-store of a Dollarama the organization exceed their expectations. or online in 2020 References to a specific year are meant to designate the corresponding Dollarama fiscal year. Certain images used in this report were taken before COVID-19 health and safety measures were implemented. For more information about this report, please consult the 'Additional Information' section. DOLLARAMA ESG REPORT ABOUT US | ESG GOVERNANCE | OUR PEOPLE | OUR PRODUCTS | OUR SUPPLY CHAIN | OUR OPERATIONS | ADDITIONAL INFORMATION | ESG APPENDICES 3 COMMITTED TO BEING A RESPONSIBLE RETAILER AND BUILDING A SUSTAINABLE BUSINESS As a leading Canadian value retailer with over 1,350 stores measurable goals. Our commitment to being a responsible from coast to coast, we contribute every day to moving retailer and to building a sustainable business for the Canada’s economy forward. In the face of COVID-19, our future remains unwavering. role as a responsible retailer, employer and business partner took on an even greater purpose. A few highlights include: > Significant enhancements to our talent development Millions of Canadians from all walks of life were able and retention programs within our stores resulting in to count on their local Dollarama for safe, convenient lower turnover and an increase in internal promotions. and affordable access to everyday essentials. Our value > Restructuring of our product quality and compliance promise and product selection were particularly relevant program with commitments to set the bar higher year to customers in 2020 in a time of need. after year. Families and communities across Canada benefited from > Pursuit of tangible and measurable initiatives to minimize Stephen Gunn Neil Rossy our ability to keep most of our stores open through the our energy consumption and environmental footprint Chair of the Board President and CEO pandemic. Our 23,300 store employees were able to count across our operations. on continued employment, guidance and support. Hundreds > Full implementation of our three-pronged approach to of Canadian suppliers and service providers, and hundreds vendor compliance, increasing our ability to safeguard more around the world, were able to count on our continued human rights and, where possible, exert a positive patronage. All businesses in Canada were put to the test influence in our extended supply chain. by the pandemic. On the strength of our dedicated and passionate team and the resilience of our business model, > Enhanced disclosures in alignment with recognized Dollarama adapted efficiently to a new reality and emerged ESG standards and stakeholder expectations with clear stronger. Management and the Board are pleased with commitments to achieve additional objectives. Dollarama’s performance from all perspectives. Over the last two years, our approach to ESG has broadened. We have adopted a more integrated and proactive approach We look forward to continued aimed not only at managing risks but also at creating ESG-related progress in the years ahead, value, and we have enhanced our ESG governance and while serving Canadians from all walks oversight frameworks. of life with purpose. Further embedding sustainability practices in our decision making has resulted in an organization that is more While 2020 will have been defined by the pandemic, the engaged on the issues that matter most at the operations, unprecedented business environment did not distract management and Board levels. Proud of our progress, we management or the Board from making progress acknowledge that we can and must do more, and we are on our sustainability journey, critically assessing motivated as a team to continue challenging ourselves to our achievements and challenges, and setting new, meet the expectations of our stakeholders. DOLLARAMA ESG REPORT ABOUT US | ESG GOVERNANCE | OUR PEOPLE | OUR PRODUCTS | OUR SUPPLY CHAIN | OUR OPERATIONS | ADDITIONAL INFORMATION | ESG APPENDICES 4 BUILDING A SUSTAINABLE BUSINESS WITH A STRONG ESG FRAMEWORK Since our last report, we have made important progress Effective in this report, we have adopted the capital markets as an organization to further integrate ESG considerations focused and industry specific Sustainability Accounting in our business and operating strategies, and to enhance Standards Board (SASB) standards for the purposes of our tracking and measurement of key ESG metrics. ESG reporting. While Dollarama falls into the Multiline and Specialty Retailers and Distributors industry standard We are pleased to share our achievements in this second based on SASB’s own Sustainable Industry Classification ESG report as well as the new goals we have set for System®, we have chosen to include in our SASB index ourselves and our various ESG-related initiatives underway. select indicators from other SASB industry standards, In this regard, we have strong engagement at all levels of to reflect Dollarama’s unique business model and our the organization and the full support of the Board as we commitment to enhanced disclosure. look to continually improve our ESG program and related disclosure. Recognizing the importance of climate change for all stakeholders, we have also committed to defining our Josée Kouri While COVID-19 impacted progress on some fronts in 2020 roadmap and approach towards alignment and integration Senior Vice President as increased focus was placed on the health and safety of of the recommendations of the Task Force on Climate- Legal Affairs customers and employees, the pandemic reinforced the related Financial Disclosures (TCFD) in the future. Our Corporate Secretary importance of building a sustainable business with a strong ongoing stakeholder engagement confirms that we are ESG framework. Our ability to adapt and succeed in the focusing on the right priority issues. face of a health and economic crisis of global proportions spoke to the resilience of our business and the agility of We will continue to strengthen our approach to sustainability our people. We intend to put that agility to work in building through the pursuit of the goals and targets outlined in this a sustainable future. report and the robust governance framework described in the following pages. Our comprehensive ESG program will ensure that we continue to manage all aspects of our “We will continue to strengthen our business responsibly and that we do so with transparency. approach to sustainability through the pursuit of measurable and actionable From taking care of our people, to offering quality products, goals, guided by our robust ESG safeguarding human rights in our supply chain and governance framework.” adapting to the risks and opportunities of climate change, Dollarama is addressing the relevant issues for our business and we look forward to continuing to report on our progress. DOLLARAMA ESG REPORT ABOUT US | ESG GOVERNANCE | OUR PEOPLE | OUR PRODUCTS | OUR SUPPLY CHAIN | OUR OPERATIONS | ADDITIONAL INFORMATION | ESG APPENDICES 5 THE IMPORTANCE OF ESG GOVERNANCE AND ACCOUNTABILITY ESG matters are ultimately the responsibility of the Board of Directors of Dollarama and and continues to work toward enhancing disclosure in this regard. Both management over the last several years have been further embedded in its charters and practices. and the Board engage with stakeholders on an ongoing basis to understand and take Management is responsible for the development