SHANGHAI, July 25,
2022 /PRNewswire/ -- Yum China Holdings, Inc. (the
"Company" or "Yum China", NYSE: YUMC
and HKEX: 9987) today released its first climate-focused
report in accordance with the Task Force on Climate-Related
Financial Disclosures (TCFD) recommendations. Aligned with
Yum China's commitment to driving
towards net-zero value chain GHG emissions by 2050, the Company
outlines in the report its approach to addressing climate-related
risks and opportunities and highlights key progress it has made on
climate action.
![Yum China 2021 Task Force on Climate-Related Financial Disclosures (TCFD) Report Yum China 2021 Task Force on Climate-Related Financial Disclosures (TCFD) Report](https://mma.prnewswire.com/media/1865482/Yum_China_2021_Task_Force_Climate_Related_Financial_Disclosures__TCFD__Report.jpg)
"At Yum China, we recognize potential risks and opportunities
across the value chain brought by climate change. We are fully
committed to the positive role we can play in the transition to a
lower-carbon economy," said Joey
Wat, CEO of Yum China.
"Yum China's first TCFD report is an
important step towards enhancing the climate resilience of our
business model. Moving forward, we will continue to work closely
with all our stakeholders to make meaningful progress towards a
more sustainable future."
The report is structured around the four TCFD pillars:
Governance, Strategy, Risk Management, and Metrics and Targets.
- Governance – Yum China's
systematic and comprehensive sustainability governance mechanism
helps ensure that climate-related matters are managed from the
Board to the operations teams.
- Strategy – Yum China has
identified transition and physical risks and conducted
climate-related scenario analysis to assess the potential impact of
those material risks on the Company's businesses under hypothetical
climate futures. In turn, this helps guide the Company's strategic
planning and risk management.
- Risk Management – Yum
China has conducted risk screening, and disclosed how
climate-related risks are effectively addressed within its existing
risk management measures in four aspects: restaurants, supply
chain, logistics, and product and services.
- Metrics and Targets – Yum China has developed a GHG emissions
inventory across the entire value chain including upstream,
downstream, and own operations, in accordance with the latest
Greenhouse Gas Protocol. The Company uses the GHG emissions
inventory as the basis to develop GHG emissions reduction targets.
On June 8, 2022, Yum China submitted its near-term science-based
GHG emissions reduction targets to Science Based Target initiative
for validation.
The publication of the report is in line with the Company's
ongoing efforts to enhance transparency on climate action,
adding further context and disclosures to previous Sustainability
and CDP reports.
Learn more about Yum China's TCFD
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.