Fast food giants bow to investor pressure on climate goals
Fast food giants including McDonald’s and Domino’s are ramping up their climate commitments under pressure from an $11 trillion (€9 trillion) global investor engagement in what has been called a “breakthrough year”.
Following a two-year investor engagement project with six leading fast food chains, five brands have now publicly stated that they will set, or have already set, science-based targets to reduce their emissions.
This also includes decarbonising their supply chains – often where the majority of a company’s greenhouse gas emissions come from via so-called Scope 3 emissions.
Last year, only two companies had made such commitments, according to research by the FAIRR initiative, a group of institutional investors involved with impact investing and engaging with companies.