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.
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," "plan," "estimate," "target," "predict," "project,"
"likely," "will," "continue," "should," "forecast," "outlook",
"commit" 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 12,409 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.
Investor Relations Contact:
Tel: +86 21 2407 7556 /
+852 2267 5801
IR@YumChina.com
Media Contact:
Tel: +86 21 2407 7510
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SOURCE Yum China Holdings, Inc.