SHANGHAI, Nov. 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 target, making the Company the first restaurant company in China to reach this milestone.
Yum China has pledged to align its business with the most ambitious aim of the Paris Agreement, to limit global temperature rise to 1.5°C above pre-industrial levels and reach net-zero by 2050. Approval of the near-term science-based targets (SBTs) marks a significant milestone of the Company’s journey towards net-zero value chain GHG emissions by 2050.
The approved near-term targets are：
- Reduce absolute Scope 1 and 2 GHG emissions 63% by 2035 from a 2020 base year.
- Reduce Scope 3 GHG emissions from purchased goods 66.3% per ton of goods purchased by 2035 from a 2020 base year.
To drive progress, Yum China has also developed a 1.5°C-aligned decarbonization strategy and roadmap, focusing on energy efficiency improvement, renewable energy investment, and supplier engagement.
"Climate action tops the list of our sustainability priorities. The goals we set are truly ambitious and will require a lot of work and collaboration with stakeholders across the value chain," said Joey Wat, CEO of Yum China. "However, we believe this is the right thing to do. While we will carefully evaluate our options for reaching our targets, we believe our efforts will support the delivery of long-term sustainable value for our customers, our shareholders, and our communities."
Yum China will continue to enhance transparency in communicating its climate action, through the Company’s Annual Sustainability Report, TCFD Report (Task Force on Climate-Related Financial Disclosures) and CDP Questionnaires.
Learn more about Yum China’s 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 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 12,409 restaurants in over 1,700 cities at the end of September 2022.
In 2021, Yum China was selected as a member of both 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 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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