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Today,
Wendy's, which is one of the world's largest quick service restaurants, committed to pursue a science-based target, in accordance with the Science-Based Targets initiative (SBTi), by the end of 2021. The target, once established and validated, will address Scope 1, 2 and 3 greenhouse gas emissions. Notably, by encouraging the agricultural practices necessary to meet their Scope 3 emissions target, Wendy's can enhance the resilience of its meat supply chains to risks associated with water scarcity and extreme weather, while improving water quality through enhanced soil health and nutrient management.
Today's announcement comes after investors agreed to withdraw a shareholder proposal filed by Sister
"Global fast food companies like Wendy's are well-positioned to minimize risk and capture opportunities by significantly reducing greenhouse gas emissions," said Sister McKillip. "As shareholders, we're particularly encouraged by the company's agreement to tackle not only the emissions from the company and its franchisees but those in its agricultural supply chain -- which make up the lion's share - as well."
"We're encouraged by Wendy's commitment to set emissions reduction targets that go beyond energy efficiency measures to implement multiple strategies to mitigate its exposure to climate risk," said
"Setting a science-based target and addressing Scope 3 emissions is not only a key step for mitigating climate impacts, but it also has important co-benefits for both water quality and quantity due to necessary fertilizer and land management. We look forward to continued engagement to ensure Wendy's addresses water risks more comprehensively," said
Through a coalition coordinated by Ceres and the
"Wendy's' commitment to reduce its greenhouse gas emissions with a science-based target that covers its operations and supply chain is an encouraging step forward for consumers and investors. Leadership from companies across the meat and dairy value chain is vital if we are to meet the goals of the Paris Agreement to avoid the worst consequences of the climate crisis. With 90% of the food sector's disclosed emissions thought to come from their supply chains, it's also promising that Wendy's commitment includes a Scope 3 target to address the environmental footprint of its global supply chain," said
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world's greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.
The FAIRR Initiative is a collaborative investor network, founded by
Currently celebrating its 50th year, ICCR is the pioneer coalition of shareholder advocates who view the management of their investments as a catalyst for social change. Its 300-plus member organizations comprise faith communities, socially responsible asset managers, unions, pensions, NGOs and other socially responsible investors with combined assets of over
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