Integrating ESG into Rent-A-Center's business model and growth strategy
Rent-A-Center is a leading rent-to-own company in North America specialising in furniture and electronics with total revenues of more than US$2 billion. It recently acquired a technology company, Acima, to expand their rent-to-own operations into the consumer finance and digital space.
Given this, the company decided to take the opportunity to better integrate ESG into its corporate strategy. To achieve this, the company engaged dss+.
Challenge
The client recognised the opportunity to integrate ESG considerations into their evolving business model and growth strategy and align it with investor expectations.
The client also sought to optimise communication of ESG efforts and ambitions to key stakeholders with a databacked, cost-effective, and pragmatic approach.
Solutions
dss+ created a materiality framework by collecting data on the most material issues based on reporting standards, rating providers, and company insights. They then benchmarked, assessed, and ranked issues via proprietary methodology. In addition, dss+:
- Developed a disclosure framework to identify disclosure gaps. This was also used to support data collection, performance assessment, and future sustainability disclosures.
- Translated findings from the materiality and disclosure analysis as well as ESG trends into a Strategic Action Plan for the client. Recommendations applied to the short-, medium-, and long-term ESG strategy.
- Aligned inaugural Sustainability Report with SASB disclosure guidance.
Assignment
Create a materiality and disclosure framework to develop a strategic ESG plan. Produce a sustainability report.
Impact
ESG strategy, materiality analysis, reporting.
- Conducted training session for senior leaders to gain buy in and alignment on ESG as a strategic initiative.
- Trained operations team on ESG data collection and management best practices.
- Inaugural sustainability report was highly regarded by board, coworkers, and investors.
- Client committed to specific actions on 4 strategic ESG priorities for 12-month period and made commitments public in press materials and sustainability report.