Interface Publishes 2022 Impact Report on Environmental, Social, and Governance Initiatives

August 31, 2023

Interface, Inc. (NASDAQ: TILE), the global flooring solutions company and leader in sustainability, today released its 2022 Impact Report, outlining the company’s annual environmental, social, and governance (ESG) commitments, progress, and achievements. The report illustrates the company’s continued efforts to operate in an ethical and more sustainable manner that benefits all stakeholders – employees, customers, shareholders, and the environment.

“Guided by our 50-year history of challenging the status quo, we’ve demonstrated that doing what’s right for people and the planet can deliver positive benefits to all stakeholders,” said Laurel Hurd, CEO of Interface. “The 2022 Impact Report highlights our progress to reduce our environmental impacts, cultivate social responsibility, and maintain robust governance practices. We also take this opportunity to celebrate our 50th anniversary and look ahead to the next 50 years as we continue to build on our legacy as leaders in design, sustainability, and innovation.”

The Interface 2022 Impact Report highlights notable achievements, including:

  • Transitioned 100% of its carpet tile production in EMEA to its differentiated cradle-to-gate carbon negative CQuest™ backing.
  • Adopted the Commitment to Human Rights, a global statement that outlines how the company supports human rights for all people.
  • Introduced new benefits to U.S.-based employees based on employee feedback, upholding the company’s commitment to providing high-quality care for its people and supporting physical and mental well-being.

The 2022 Impact Report also provides transparency into the company’s environmental footprint including, global greenhouse gas (GHG) emissions, carbon footprint by product type, use of recycled and biobased materials, and use of renewable energy, along with enhanced employee metrics and demographics. The report follows traditional disclosure practices and aligns with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) framework.

“By setting aggressive targets across environmental, social, and economic aspects of our global business, we can positively impact the world and support a sustainable future for generations to come,” continued Hurd. “The progress documented in our 2022 Impact Report is made possible by our talented and passionate team that makes up our purpose-driven community. As we look back on the last five decades, we are excited for what is to come. Our best days are ahead.”

The Interface 2022 Impact Report, and other ESG-related materials and documents, can be found at: https://investors.interface.com/corporate-responsibility-esg/default.aspx

About Interface

Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life.

Learn more about Interface at interface.com and blog.interface.com, our nora brand at nora.com, our FLOR® brand at FLOR.com, and our Carbon Neutral Floors™ program at interface.com/carbonneutral. Learn more about our carbon negative products at interface.com/carbonnegative.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements. Forward-looking statements may be identified by words such as “may,” “expect,” “forecast,” “anticipate,” “intend,” “plan,” “believe,” “could,” "should," "goal," "aim," "objective," “seek,” “project,” “estimate,” “target,” “will” and similar expressions. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including but not limited to the risks under the following subheadings in “Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2023: "We compete with a large number of manufacturers in the highly competitive floorcovering products market, and some of these competitors have greater financial resources than we do. We may face challenges competing on price, making investments in our business, or competing on product design or sustainability", "Our earnings could be adversely affected by non-cash adjustments to goodwill, when a test of goodwill assets indicates a material impairment of those assets", "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives, our principal design consultant and other key personnel (including experienced sales and manufacturing personnel), and our loss of any of them could affect us adversely", "Large increases in the cost of our raw materials, shipping costs, duties or tariffs could adversely affect us if we are unable to pass these cost increases through to our customers", "Unanticipated termination or interruption of any of our arrangements with our primary third-party suppliers of synthetic fiber or our primary third-party supplier for luxury vinyl tile (“LVT”) or other key raw materials could have a material adverse effect on us", "The market price of our common stock has been volatile and the value of your investment may decline", "Changes to our facilities, manufacturing processes, product construction, and product composition could disrupt our operations, increase our manufacturing costs, increase customer complaints, increase warranty claims, negatively affect our reputation, and have a material adverse effect on our financial condition and results of operations", "Our business operations could suffer significant losses from natural disasters, acts of war, terrorism, catastrophes, fire, adverse weather conditions, pandemics, endemics, unstable geopolitical situations or other unexpected events", "Disruptions to or failures of our information technology systems could adversely affect our business", "The impact of potential changes to environmental laws and regulations and industry standards regarding climate change could lead to unforeseen disruptions to our business operations", "The COVID-19 pandemic has had and could continue to have (and other public health emergencies could have in the future) a material adverse effect on our ability to operate, our ability to keep employees safe from the pandemic, our results of operations, financial condition, liquidity, capital investments, our near term and long term ability to stay in compliance with debt covenants under our Syndicated Credit Facility and Senior Notes, our ability to refinance our existing indebtedness, and our ability to obtain financing in capital markets", "Sales of our principal products have been and may continue to be affected by the COVID-19 pandemic, adverse economic cycles, and effects in the new construction market and renovation market", "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including foreign currency fluctuations, restrictive taxation, custom duties, border closings or other adverse government regulations", "The conflict between Russia and Ukraine could adversely affect our business, results of operations and financial position", "Fluctuations in foreign currency exchange rates have had, and could continue to have, an adverse impact on our financial condition and results of operations", "The uncertainty surrounding the ongoing implementation and effect of the U.K.’s exit from the European Union, and related negative developments in the European Union could adversely affect our business, results of operations or financial condition", "We have a substantial amount of debt, which could adversely affect our business, financial condition and results of operations and our ability to meet our payment obligations under our debt", "Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our operations to pay our indebtedness", "We may incur substantial additional indebtedness, which could further exacerbate the risks associated with our substantial indebtedness", "We face risks associated with litigation and claims". You should consider any additional or updated information we include under the heading “Risk Factors” in our subsequent quarterly and annual reports.

Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.

Christine Needles
Global Corporate Communications
Christine.Needles@interface.com
+1 404-491-4660

Source: Interface, Inc.