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

Yum China Holdings Inc 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.