SHANGHAI, May 28, 2020 /PRNewswire/ -- Yum China Holdings,
Inc. (the "Company" or "Yum China")
(NYSE: YUMC), today issued its annual Sustainability Report, which
highlights its commitment to sustainability and dedication to
giving back to the community. It is the Company's third annual
Sustainability Report since becoming an independent, publicly-traded company in 2016.
The new report outlines Yum
China's sustainability strategy and its accomplishments in
2019, underscoring the importance of sustainability, innovation and
culture to the Company's operations. The report also reflects
Yum China's commitment to developing
goals and taking actions in line with the Sustainable Development
Goals to support the United Nations 2030 Agenda.
"As China's largest restaurant company, we are committed to
working with stakeholders across the value chain to promote
economic, social, and environmental sustainability. This is crucial
not only for our company and industry, but for our country and the
world at large," said Joey Wat, CEO
of Yum China. "Relentless innovation
steers our business and drives our sustainability strategy. We will
explore new and innovative ways to contribute to the communities in
which we operate."
Achieving Success Responsibly: We CARE
"Creating a Responsible Ecosystem" (CARE) is Yum China's sustainability strategy. It is
integrated with the Company's long-term business growth strategy
entitled "Sustainable Platform for Growth". CARE drives continuous
improvement of the Company's environmental, social and governance
(ESG) performance. Yum China
prioritizes issues in three strategic pillars: Environment, Food
and Community.
The recent COVID-19 pandemic increases the importance of
Yum China's sustainability strategy.
After the outbreak was confirmed, Yum
China acted quickly to put in place robust measures to help
protect the health and safety of employees, customers, and
communities, while ensuring the continuity of vital services. This
included providing donations, free meals, and volunteer service to
medical workers on the frontline. Specific health measures included
enhanced disinfection procedures, mandatory body temperature checks
for all employees and use of protective masks. Yum China employees were also given additional
support, following the launch of a recently upgraded employee
insurance policy and a dedicated employee support hotline.
In recognition of Yum China's
on-going sustainability efforts, in 2019, Yum China ranked among the Top 5 of the
Restaurant and Leisure (REX) Industry in the Dow Jones
Sustainability Indices (DJSI). In the REX industry, Yum China performed particularly well in the in
the criterion of Human Capital Development, Environmental
Reporting, Information/Cyber Security, Supply Chain Management and
Codes of Business Conduct.
Digital Innovation Creates Sustainable Value
In 2019, Yum China's digital
innovation continued to create sustainable value. Yum China is utilizing artificial intelligence,
Internet of Things and other digital technologies to build a more
intelligent and efficient supply chain and strengthen food safety
management. In addition, to address the global issues of climate
change and plastic pollution, Yum
China has adopted the Sustainability 4R Principles (Reduce,
Reuse, Recycle and Replace) to drive for long-term positive
environmental impacts. The Company employs digital and intelligent
technologies to continuously improve energy efficiency and reduce
the carbon footprint of its restaurants. Digital platforms also
facilitate better engagement with customers in public welfare and
environmental protection activities.
Notably, in 2019, Yum China's
flagship "One Yuan Donation" program
launched the V-Gold Donation Campaign online, giving over 200
million KFC and Pizza Hut members the option of donating their
reward points for charity.
Some additional sustainability highlights in 2019 include:
- Waste Management: In
recognition of its pilot project in Chengdu to convert used cooking oil into
biodiesel, Yum China became the
first ISCC-certified restaurant company in China. By the end of 2019, nearly 100 KFC
restaurants in Chengdu had
established a comprehensive data recording and tracking system in
accordance with ISCC criteria. In 2019, the Chengdu project converted 666,465 kg of used
cooking oil into biodiesel, equivalent to reducing potential GHG
emissions by about 1,400 tons.
- Plastic Reduction
Initiatives: To reduce plastic use, nearly 400 KFC
restaurants in select cities took the lead to pilot on-request-only
provision of disposable cup lids and straws. In another initiative
to reduce plastic waste, Yum China's
logistics centers introduced reusable straps for certain cargos in
order to reduce the use of plastic stretch films.
- Diversity and Equal
Opportunity: Yum China signed
the United Nations Women's Empowerment Principles (WEPs) and was
selected for the 2020 Bloomberg Gender Equality Index (GEI) for the
second consecutive year, demonstrating the Company's commitment to
promoting gender equality in its workplace, industry and
communities.
- Supporting the sustainable
growth of local economies: Yum
China launched the "Grow Local" Initiative in 2018 to
provide practical support for local industrial development and
economic empowerment. In 2019, the Grow Local Initiative purchased
more than 400 tons of high-quality products from under-developed
areas including dragon fruits from Guizhou province and pears from Anhui province.
Long-Term Commitment to Sustainability
Since becoming an independent, publicly-traded company in 2016,
Yum China has promoted
sustainability governance all the way from the Board of Directors
to frontline restaurant teams. On its journey towards sustainable
development, Yum China is committed
to working with employees, customers, partners, industry
associations and other stakeholders to bring about more positive
change to society.
Read the full 2019 Sustainability Report here.
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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
caption "Risk Factors" in our Quarterly Report 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. The Company had 9,295 restaurants in over
1,400 cities at the end of March
2020. Yum China ranked # 361
on the Fortune 500 list for 2020. In 2020, Yum China was named to the Bloomberg
Gender-Equality Index and was certified as a Top Employer 2020 in
China by the Top Employers
Institute, both for the second consecutive year. For more
information, please visit http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.