SHANGHAI, China – Yum China Holdings, Inc. has published its 2022 Sustainability Report on March 31. This report outlines the progress the Company has made, as well as the commitments the Company is making, towards the Company’s ESG goals in three focus areas: Environment, Food, and People.
“Yum China continued to make progress on its ESG commitments and priorities throughout the pandemic. We also stayed true to our purpose by supporting our employees, serving our customers effectively, and giving back to our communities,” said Joey Wat, CEO of Yum China.
“Although many uncertainties still lie ahead, I believe that with our key capabilities and competitive moats, Yum China is uniquely positioned to thrive both as a business and a responsible corporate citizen. We will continue to foster a culture of creativity and collaboration as we work towards our ESG goals with our partners.”
Key highlights from this year’s report include:
- Supporting the transition to a low-carbon economy and contributing to a circular economy: In 2022, the Company’s science-based emissions reduction targets were approved by the Science Based Targets initiative (SBTi). This represents an important milestone in the Company’s journey towards achieving net-zero value chain GHG emissions by 2050. The Company is committed to contributing to a circular economy by improving the efficient use of natural resources through initiatives to reduce, reuse, recycle and replace. In 2022, Yum China initiated pilot projects such as fueling its logistic fleets with biodiesel, and recycling packaging waste generated in daily operations.
- Deepening efforts to offer safe and nutritious food to customers: The Company continued to invest heavily in building an industry-leading, intelligent, digitalized food safety and quality management system. Utilizing AI, IoT, and real-time monitoring and analysis, the Company has established rigorous control measures across the value chain to ensure food safety and quality. In addition to offering customers safe and high-quality food, Yum China is committed to offering a wide range of nutritious choices to customers. The recently released Yum China Nutrition and Health Policy highlighted the Company’s commitment to promoting balanced diets.
- Firmly adhering to the ‘People First’ philosophy: The Company provided job security to its employees even during tough times, refrained from layoffs, increased medical coverage for eligible staff and their families, and provided them with food and medical supplies during the pandemic related lockdowns. In 2022, the Company further upgraded its employee benefits plan and established the “Yum China Employee Mutual Aid Fund” to offer financial assistance to employees in need.
- Serving the communities where we live and operate: Through their heroic efforts during the pandemic, Yum China’s employees continued to live out the Company’s core values. In 2022, over 4 million hours of volunteer time was recorded to support local communities. Meanwhile, Yum China’s flagship One Yuan Donation program celebrated its 15th anniversary. Through it, the Company contributes to poverty alleviation and rural revitalization by improving the diet and nutrition of children in remote areas and enhancing their access to digital education.
Yum China continues to receive recognition for its sustainability efforts and progress. The Company achieved a ‘Top 1% Global ESG Score’ in S&P Global’ s Sustainability Yearbook 2023, the only company in the Restaurants & Leisure Facilities industry to receive this recognition.
The 2022 Sustainability Report, Yum China’s sixth annual Sustainability Report, was prepared in accordance with global ESG and sustainability reporting guidelines and frameworks, including the Global Reporting Initiative (GRI), and Sustainability Accounting Standards Board (SASB). It also outlines Yum China’s contributions to the United Nations Sustainable Development Goals (SDGs) to ensure the Company’s efforts align with the 2030 Agenda.
Read the full 2022 Sustainability Report here.
