The report from Spin Master shows the company has increased philanthropic donations, enhanced transparency of diversity, equity and inclusion metrics and achieved 97% pay equity.
Spin Master has issued its third annual Corporate Social Responsibility report (2021 CSR Report), showing the company’s environmental, social and governance goals and performance for 2021.
“Spin Master has always had a noble purpose, to create magical play experiences for children and their families,” said Max Rangel, Spin Master’s global president and CEO. “Our 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.”
Spin Master is seeking to be an inclusive employer, enhance the communities in which it operates and minimise environmental impacts with efforts in four key areas: products, people, communities and environment.
With products, Spin Master says it is committed to providing children and families with the safest and highest quality toys, entertainment content and digital games. It has had zero consumer recalls in over a decade and 97% of manufacturing facilities are audited and remediated through the Ethical Toy Program. The company is set to launch a new Mindful Classics games line made with FSC-certified wood and paper, bamboo and recycled plastic in autumn 2022.
Spin Master states it is committed to investing in employees’ well-being and development and to fostering an inclusive workplace where everyone can thrive, grow and ultimately have fun. Women currently represent 40% of Senior Management in the company (director level and above) and 97% gender pay equity has been achieved with a target to achieve 100% in the future. In an employee engagement survey, 84% of respondents indicated they are proud to work at Spin Master.
“Our talented team is the driving force behind our purpose of creating magical experiences for children and their families,” said Tara Deakin, Spin Master’s EVP and chief people officer. “This 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.”
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. It has increased philanthropic financial giving with $1.95m in financial donations and 170,000 toys, impacting 300,000 children globally. The company also launched The Future of Play Scholarship and awarded scholarships to seven young people from underrepresented communities studying in the fields of toy design, animation and digital game design.
The report also highlighted what Spin Master is doing to support the environment and to minimise the impact of its operations. It has offset 10,186 metric tonnes of carbon representing 100% of Scope 1, 2 and some Scope 3 emissions, launched toy recycling programmes in two markets, the US and Australia, and committed to create a climate action plan by the end of 2022
More details regarding Spin Master’s CSR efforts can be found here.