Cavco Corporate Responsibility Report
At Cavco Industries, we are a leading designer and builder of factory-built dwellings which include manufactured homes, modular homes, commercial buildings, park model homes and vacation cabins. Founded in 1965, our operations include 33 homebuilding production lines, over 90 retail locations, a mortgage, home-only and commercial lending business and an insurance carrier and agency, all focused on factory-built homes.
We are fortunate to be in a business which inherently provides enormous social good and offers environmental advantages compared to other home construction approaches. We build, sell, fund and insure needed affordable homes. We provide living wage employment that gives our team members opportunities to achieve success through stable careers in a safe and respectful workplace.
At Cavco, we are focused on long-term value creation, and our core belief is that in the long-term the interests are aligned of stakeholders focused on value creation and those focused on our environmental, social and governance ("ESG") efforts. Therefore, our business and our ESG efforts are inseparable and not managed separately.
We do not undertake ESG work that we view as inconsistent with long-term business value-creation, and we do not take actions with perceived business benefits that are inconsistent with our ESG values.
There is no conflict between building long-term value and prioritizing Corporate Responsibility.
At Cavco, Corporate Responsibility is making our key stakeholders our priority. Corporate Responsibility means prioritizing Our People, Our Homebuyers, Our Communities and Our Shareholders. Our business strategy—to build long-term value—incorporates the ESG factors we track and disclose as priorities aligned under each of these stakeholders. Each of these key stakeholders and the ESG factors that build long-term value for these stakeholders is further discussed in the links below.
Learn more about who we are and what we do.
Our People
Cavco fosters a culture of excellence by investing in our people. We prioritize safety, training and culture.
Our Homebuyers
We are driven to improve the lives of our homebuyers by building exceptional, affordable homes.
Our Shareholders
We prioritize corporate governance, compliance and risk management initiatives to drive long-term value for the company and shareholders.
Our Communities
We focus on environmental responsibility to reduce costs, improve sustainability, mitigate climate change and build long-term value.
Board and Senior Management Oversight
Our Board oversees our business strategy with specific oversight of our ESG efforts. Cavco's executive leadership guides and develops our Corporate Responsibility priorities and provides regular updates to the Board on them. The Board and its committees support management's strategy of integrating our ESG efforts into our business strategy.
In July 2021, we completed our first comprehensive report of ESG priorities when we posted our Corporate Responsibility Report examining a range of key stakeholders, including investors, customers, employees, communities and rating organizations. We also drew upon the subject matter expertise of colleagues throughout our organization to collect and organize content.
In 2022, we posted our second Corporate Responsibility Report as we continued to make notable progress on ESG matters, including the following:
- Purposefully integrated sustainability initiatives further into our operations.
- Created a cross-functional working group of senior executives to design and lead the Company's ESG initiatives, prepare our Corporate Responsibility Reports, and monitor overall effectiveness of our ESG program. This ESG working group includes our CEO, the Presidents of our Manufacturing and Retail operations and leaders of support functions such as Legal, Environmental, Safety, Finance and Communications.
- Adopted an Environmental Stewardship Policy, a Product Safety and Quality Policy and a Diversity, Equity and Inclusion Policy, outlining the Company's priorities-driven ESG strategy.
- Launched a dedicated "Environmental, Social and Governance" website and a FAQ page to communicate Cavco's vision and priorities to employees, customers, investors and vendors.
In September 2024, we published our third Corporate Responsibility Report to further highlight our priorities-driven ESG strategy. This latest report, our 2023 SASB report, and more information about our ESG initiatives can be found at investor.cavco.com/general-documents/.
Sustainability Accounting Standards Board (SASB) Report
We publish a wide range of disclosures about our Company consistent with the activity metrics of the Sustainability Accounting Standards Board ("SASB") Home Builders Industry Standard Version 2018-10.
Select Cavco Corporate Policies
Environmental Stewardship (PDF)
Product Safety and Quality (PDF)
Cavco Human Rights Policy (PDF)
Employee Engagement, Culture & Opportunity Statement (PDF)
Conflict Minerals Policy (PDF)