Yum China Holdings, Inc. has received an 'A' rating in the latest MSCI Environmental, Social and Governance Ratings for 2021. The company is one of only two restaurant brands to receive an 'A' rating, recognizing the Company's strong ESG performance, according to a press release.
"Sustainability is an integral part of our business and fundamental to our future success. We strive to work collaboratively with our stakeholders across the value chain to promote innovation for sustainable development," Joey Wat, Yum China CEO, said in the release. "We are honored to receive the 'A' rating from MSCI for our efforts and commitment to sustainable development."
Yum China's industry leading position in the MSCI ESG Ratings is driven by the company's continued progress and efforts in ESG. According to MSCI, Yum China outperformed industry peers in the following areas: corporate governance, packaging material and waste and opportunities in nutrition and health. MSCI also awarded Yum China a best-in-class score for board performance and acknowledged the company's detailed policies on business ethics and corruption.
Yum China is actively involved in tackling plastic waste and carbon emissions by implementing improved sustainable packaging measures, targeting to reduce 30% (as compared to the 2019 baseline) of non-degradable plastic packaging weight by 2025 and is also committed to achieving 100% of FSC certified paper packaging. In addition, Yum China has committed to supporting the Paris Agreement by setting science-based emissions reduction targets and reaching a net-zero value chain GHGs emissions by 2050.
MSCI Inc. is the world's leading provider of ESG Indexes with over 1,500 equities and fixed income ESG Indexes designed to help institutional investors benchmark ESG investment performance and manage, measure and report on ESG mandates. MSCI ESG Ratings is designed to measure a company's resilience to long-term ESG risks.
Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. The vompany had 11,415 restaurants in more than 1,600 cities.
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