Yum China Submits Near-Term Science-Based GHG Emissions
Reduction Targets for Validation
SHANGHAI, June 20,
2022 /PRNewswire/ -- Yum China Holdings, Inc.
(the "Company" or "Yum China", NYSE:
YUMC and HKEX: 9987) today issued its fifth annual sustainability
report. Yum China's 2021
Sustainability Report highlights the Company's commitment to
sustainability and provides an overview of progress made in 2021
towards its sustainability goals.
Yum China formally submitted the
near-term science-based greenhouse gas emissions reduction targets
to the Science Based Target Initiative (SBTi) for validation on
8th June, 2022. The specific targets, in line with
criteria and recommendations of SBTi, are expected to be announced
before the end of 2022 following official approval from SBTi. The
targets will provide a clearly defined pathway for Yum China to reach net-zero value chain GHG
emissions by 2050.
"As we continue to navigate the challenges brought by COVID-19,
we remain steadfast in our long-term commitment to sustainability
and sustainable growth," said Joey
Wat, CEO of Yum China. "We
will continue to collaborate with stakeholders across the value
chain to transform and find innovative solutions for sustainable
growth. I am confident that together we will continue to make
meaningful progress towards a more sustainable future."
Focusing on areas where the Company's expertise and scale can
have the most meaningful impact, Yum
China's 2021 Sustainability Report shares progress across
three strategic pillars: Food, Environment and People. Highlights
include:
- Committed to providing customers with delicious, safe,
nutritious, and high-quality food, the Company further enhanced
food safety management through an industry-leading intelligent and
digitalized supply chain management system.
- Reaffirmed its commitment to nutritional improvements through
product innovation. Through the application of multiple cooking
methods, and recipe changes with less salt, sugar, and oil, the
Company realized remarkable achievements in its product
offerings.
- Committed to reducing the adverse environmental impacts from
its entire value chain, the Company developed a decarbonization
strategy and roadmap supported by science-based emissions reduction
targets that have been submitted to SBTi for validation.
Additionally, the Company continued efforts to enhance transparency
by disclosing climate action progress through CDP and committing to
TCFD reporting in the near-term.
- Committed to the "People First" philosophy, the Company
released the Yum China Human Rights Policy and Occupational Health
and Safety Policy, reiterating its commitments to create a "Fair,
Care, and Pride" workplace.
- Continued to prioritize the health and safety of employees and
further upgraded medical insurance coverage for its eligible
Restaurant General Managers ("RGMs"), restaurant management teams
and supervisors. These enhanced benefits are expected to cover
around 100,000 frontline employees and their family members.
- Committed to promoting sustainable rural development through
supporting nutrition improvement and enhancing STEM education. The
Company's flagship One Yuan Donation
program has supported the health and growth of children in remote
rural areas for 14 years with nutritious meals. In 2021, the
program developed a Charity E-Shop to engage millions of
Yum China's customers and popularize
the concept of "Everyone does good."
Yum China's sustainability
efforts continue to receive high-profile external recognition:
- Scored industry best in the 2021 DJSI CSA for the second
consecutive year and listed in both 2021 DJSI World Index and DJSI
Emerging Market Index.
- Received an 'A' rating in the latest MSCI ESG rating for
2021.
- Included in Bloomberg's 2022 Gender-Equality Index for the
fourth consecutive year.
- Certified as a Top Employer China by the Top Employers
Institute for the fourth consecutive year in 2022, and the only
restaurant company among the top 20 employers.
Read the full 2021 Sustainability Report here.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. We intend all
forward-looking statements to be covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally can be identified by the fact
that they do not relate strictly to historical or current facts and
by the use of forward-looking words such as "expect,"
"expectation," "believe," "anticipate," "may," "could," "intend,"
"belief," "aim," "plan," "estimate," "target," "predict,"
"project," "ambition" "likely," "will," "continue," "should,"
"forecast," "outlook," "look forward to" or similar terminology.
These statements are based on current estimates and assumptions
made by us in light of our experience and perception of historical
trends, current conditions, and expected future developments, as
well as other factors that we believe, are appropriate and
reasonable under the circumstances, but there can be no assurance
that such estimates and assumptions will prove to be correct.
Forward-looking statements are not guarantees of performance and
are inherently subject to known and unknown risks and uncertainties
that are difficult to predict and could cause our actual results or
events to differ materially from those indicated by those
statements. We cannot assure you that any of our expectations,
estimates, or assumptions will be achieved. The forward-looking
statements included in this press release are only made as of the
date of this press release, and we disclaim any obligation to
publicly update any forward-looking statement to reflect subsequent
events or circumstances, except as required by law. All
forward-looking statements should be evaluated with the
understanding of their inherent uncertainty. You should consult our
filings with the Securities and Exchange Commission (including the
information set forth under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations " in our Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q) for additional detail
about factors that could affect our financial and other
results.
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! Brands in
mainland China. It has exclusive rights in mainland China to KFC,
China's leading quick-service restaurant brand, Pizza Hut, the
leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving
innovative Mexican-inspired food. Yum
China also owns the Little Sheep, Huang Ji Huang and COFFii & JOY concepts
outright. In addition, Yum China has
partnered with Lavazza to explore and develop the Lavazza coffee
shop concept in China. The Company
had 12,117 restaurants in over 1,700 cities at the end of
March 2022.
In 2021, Yum China has been
selected as a member of both Dow Jones Sustainability Indices
(DJSI): World Index and Emerging Market Index. In 2022,
Yum China ranked # 359 on the
Fortune 500 list. The Company was also named to the Bloomberg
Gender-Equality Index and was certified as a Top Employer 2022 in
China by the Top Employers
Institute, both for the fourth consecutive year. For more
information, please visit http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.