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Yum China Holdings Aims For 60% GHG Emissions Reduction By 2035

Yum China Holdings Inc (NYSE:YUMC) said the Science Based Targets initiative (SBTi) had approved its near-term science-based emissions reduction target. The…
byShivani Kumaresan
November 21, 2022
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  • Yum China Holdings Inc (NYSE:YUMC) said the Science Based Targets initiative (SBTi) had approved its near-term science-based emissions reduction target.
  • The SBTi is a partnership between CDP (Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
  • The approval makes Yum China the first restaurant company in China to reach the milestone.
  • Yum China has pledged to reach net-zero by 2050, aligning to the Paris Agreement of limiting global temperature rise to 1.5°C above pre-industrial levels.
  • The approved near-term targets include reducing absolute Scope 1 and 2 GHG emissions 63% by 2035 from a 2020 base year.
  • Also, to reduce Scope 3 GHG emissions from purchased goods 66.3% per ton of goods purchased by 2035 from a 2020 base year.
  • “The goals we set are truly ambitious and will require a lot of work and collaboration with stakeholders across the value chain,” said CEO Joey Wat.
  • Price Action: YUMC shares closed lower by 3.81% at $52.81 on Friday.
 
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