SHANGHAI, June 8, 2021 /PRNewswire/ — Yum China Holdings, Inc. (the "Company" or "Yum China", NYSE: YUMC and HKEX: 9987) today announced that it has signed the Business Ambition for 1.5⁰C Commitment Letter, as part of the global Science Based Targets initiative (SBTi), that helps companies establish science-based targets to reduce greenhouse gas (GHG) emissions and transform business operations to fit the future low-carbon economy.
In committing to the SBTi, Yum China pledges 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. Yum China firmly supports these goals and recognizes its responsibility to minimize the risk climate change poses to the future of the planet. Specifically, Yum China will define a target and roadmap to reduce GHG emissions along its value chain based on SBTi criteria within 24 months.
"As we move further along our climate action journey, we are stepping up efforts to become a company committed to net-zero emissions," said Joey Wat, CEO of Yum China. "In order to transform sustainability challenges, such as climate change, into opportunities, Yum China will continue to collaborate with stakeholders across the value chain."
As part of its sustainability strategy to create a responsible ecosystem, Yum China actively identifies and assesses energy use and GHG emissions across its value chain. In 2018, Yum China set a target of reducing restaurant energy consumption and GHG emissions by an additional 10% by 2025 compared to the 2017 baseline. Through the application of innovative energy saving initiatives and technologies, Yum China reached this target ahead of schedule in 2020. In 2019, the Company formulated a climate change strategy which defines methods and measures for energy and GHG management, green building design, and rainforest conservation. The Company is stepping up its climate efforts by committing to Science Based Targets, signaling the next phase of the Company’s climate advocacy.
Yum China will continue to be transparent in communicating its progress around climate and energy practices. In addition to publishing an annual sustainability report, Yum China will also disclose its climate impact through CDP, a global non-profit charity that runs the world’s leading environmental disclosure system.
Learn more about Yum China’s environmental and sustainability work here
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. 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," "likely," "will," "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 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 our 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, East Dawning 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 10,725 restaurants in over 1,500 cities at the end of March 2021. Yum China ranked # 363 on the Fortune 500 list for 2021. Yum China has been named the Industry Leader for the Restaurant & Leisure Facilities Industry in the 2020 Dow Jones Sustainability Indices. In 2021, Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2021 in China by the Top Employers Institute, both for the third consecutive year. For more information, please visit http://ir.yumchina.com.
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