Approval of Yum China’s science-based targets to reduce GHG emissions by more than 60% by 2035
SHANGHAI, November 21, 2022 /PRNewswire/ — Yum China Holdings, Inc. (the “Company” or “yum china“, NYSE: YUMC and HKEX: 9987) today announced that the Science Based Targets Initiative (SBTi) has approved the company’s near-term science-based emissions reduction goal, making the company the first company to restoration in China to reach this milestone.
yum china is committed to aligning its activities with the most ambitious goal of the Paris Agreement, which is to limit the increase in global temperature to 1.5°C above pre-industrial levels and achieve net zero by 2050. Approval of Science-Based Short-Term Goals (SBT) marks an important milestone in the Company’s journey to net zero value chain GHG emissions by 2050.
The approved short-term objectives are:
- Reduce absolute Scope 1 and 2 GHG emissions by 63% by 2035 relative to a 2020 baseline.
- Reduce Scope 3 GHG emissions from goods purchased by 66.3% per tonne of goods purchased by 2035 relative to a 2020 base year.
To drive progress, yum china also developed a 1.5°C-aligned decarbonization strategy and roadmap, focusing on improving energy efficiency, renewable energy investments and supplier engagement.
“Climate action is at the top of our sustainability priority list. The goals we are setting are really ambitious and will require a lot of hard work and collaboration with stakeholders across the value chain,” said Joey WatCEO of yum china. “However, we believe it is the right thing to do. While we are carefully evaluating our options to achieve our goals, we believe our efforts will support the creation of long-term sustainable value for our customers, shareholders and our communities.”
yum china will continue to improve transparency in communicating its climate action, through the company’s annual sustainability report, the TCFD (Task Force on Climate-Related Financial Disclosures) report and CDP questionnaires.
Learn more about yum china environmental and sustainability work here.
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About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum! brands in mainland China. It holds exclusive rights in mainland China to KFC, China’s leading quick-service restaurant brand, Pizza Hut, China’s leading casual dining brand. Chinaand Taco Bell, a California-restaurant chain serving innovative Mexican-inspired cuisine. yum china also owns the Petit Mouton, Huang Ji Huang and the COFFii & JOY concepts. In addition, yum china has partnered with Lavazza to explore and develop the Lavazza coffee concept by China. The Company had 12,409 restaurants in more than 1,700 cities at the end of September 2022.
In 2021, yum china has been selected as a member of the two Dow Jones Sustainability Indices (DJSI): World Index and Emerging Market Index. In 2022, yum china ranked 359th on the Fortune 500 list. The company was also named to the Bloomberg Gender-Equality Index and was certified 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.
Contact with Investor Relations:
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SOURCEYum China Holdings, Inc.