SHANGHAI, April 10,
2024 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE:
YUMC and HKEX: 9987, "Yum China" or
the "Company") today announced that it has published its seventh
annual Sustainability Report. The report outlines the Company's
achievements and ongoing progress towards its Environmental, Social
and Governance (ESG) goals in four focus areas: Environment, Food,
People, and
Community.
Key highlights from the report include:
- In 2023, the Company inaugurated the first 100%
renewable energy cold-chain logistics center in China. By integrating Distributed Photovoltaic
(DPV) systems and Virtual Power Purchase Agreements (VPPA),
Yum China has successfully
transitioned over 70 restaurants and three logistics centers to
utilize green electricity, achieving an annual renewable energy
consumption of approximately 8,000 MWh. The Company also
established the 'Yum China DPV and VPPA Alliance' in
collaboration with 40 key suppliers. This alliance enables
supply chain partners to embrace renewable energy and join
transformation.
- As part of its nationwide coffee grounds
recycling initiative, the Company built five coffee grounds
disposal centers across the country. Environmentally-friendly
baskets and trays made with recycled coffee grounds are now being
used at over 1,500 KFC restaurants in China, with plans for further expansion in
coming years.
- Yum China began exploring the
use of generative artificial intelligence in its digital-enabled
Food Safety Risk Assessment and Early Warning System, enabling
multidimensional assessment of potential food safety risks across
the entire operation.
- The Company continued to improve its 'YUMC Care'
benefits program in 2023, further expanding medical and
accident insurance coverage for eligible employees' family members.
Yum China was once again named by
the Top Employers Institute as a Top Employer in China for the sixth consecutive year.
- To date, Yum China's
One Yuan Donation initiative has
raised over RMB 260 million,
contributing to poverty alleviation and rural revitalization by
improving the diet and nutrition of children in rural areas and
enhancing their access to digital education.
- Yum China provided over
RMB 3 million in financial
assistance and tens of thousands of meals to those
affected by Typhoon Doksuri in July
2023 and the December 2023
Gansu earthquake.
"Ensuring that we grow sustainably is of paramount importance to
us and to our business and is an essential part of creating
long-term value for our shareholders" said Joey Wat, CEO of Yum
China. "Working side by side with our customers, suppliers
and the wider community, we are confident that we can set a leading
example in our industry as an environmentally, ethically and
socially responsible business."
Yum China continued to receive
external recognition for its sustainability initiatives in
2023.
- The Company ranked No.1 in the Restaurant & Leisure
Facilities Industry in S&P Global Corporate Sustainability
Assessment (CSA) for the fourth consecutive year, and is the only
company in the Restaurant & Leisure Facilities Industry to be
awarded a 'Top 1% Global ESG Score' in the S&P Global
Sustainability Yearbook 2024.
- The Company also attained the "AA" rating in the
MSCI ESG rating, the highest ranking in its industry.
- Additionally, Yum China joined the United Nations
Global Compact (UNGC), committing to operate responsibly based
on the UNGC's ten universally accepted principles in the areas of
human rights, labor, environment, and anti-corruption.
To learn more about Yum China's
ESG efforts, please visit:
https://www.yumchina.com/sustainability/en/home/Index
Read the full 2023 Sustainability Report 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," "aim," "plan," "estimate," "target," "predict,"
"project," "likely," "will," "continue," "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 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 is the largest
restaurant company in China with a
mission to make every life taste beautiful. The Company has over
400,000 employees and operates over 14,000 restaurants under six
brands across 2,000 cities in China. KFC and Pizza Hut are the leading
brands in the quick-service and casual dining restaurant spaces in
China, respectively. In addition,
Yum China has partnered with Lavazza
to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine.
Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply
chain which includes an extensive network of logistics centers
nationwide and an in-house supply chain management system. Its
strong digital capabilities and loyalty program enable the Company
to reach customers faster and serve them better. Yum China is a Fortune 500 company with the
vision to be the world's most innovative pioneer in the restaurant
industry. For more information, please visit
http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.