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Fast-food giants beef up climate commitments following investor pressure
The likes of McDonald s, Domino s and Yum! Brands, which owns KFC, have all improved their climate commitments this year following pressure from an $11trn coalition of investors.
Yum! Brands, which owns Taco Bell and KFC, is one of the brands to have improved climate targets
The investor group, FAIRR, revealed today (30 April) how engagement with six of the world’s biggest fast-food brands in its members portfolios has evolved against a backdrop of Covid-19 and preparation for COP26 this November. The brands covered are McDonald’s, Burger King, Domino’s, Chipotle Mexican Grill, Restaurant Brands International (owner of Burger King) and Yum! Brands (owner of KFC, Pizza Hut and Taco Bell).
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.