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 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.

See more from Benzinga

• Niu Technologies Clocks 6% Sales Decline In Q3

• Gap Faces Holiday Uncertainty Heading Into Q4, Says Analyst

• Desantis Calls Trump 'A Moron Who Has No Business Running For President,' Former Staffers Say: Report

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.