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
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. 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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SOURCE Yum China Holdings, Inc.