GlobalData offers a comprehensive analysis of The Wendys, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on The Wendys‘ ESG performance. GlobalData’s company profile on The Wendys offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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In order to achieve a lower carbon footprint, The Wendys has set specific goals related to scope 1, scope 2, and scope 3 emissions reduction targets, which are validated by the Science Based Target initiative. The Wendys' latest filings mentioned the keywords 'Emissions' and 'Renewable' most number of times in relation to 'Climate Change'.
According to the Corporate Responsibility Report 2022, the company has set a goal of reducing absolute Scope 1 and 2 greenhouse gas emissions by 47% by 2030, compared to a 2019 base year. Furthermore, compared to a 2019 base year, the company has set a goal of reducing Scope 3 greenhouse gas emissions intensity by 47% per metric ton of purchased goods and 47% per franchise restaurant by 2030. The company began calculating progress against its scope 3 emissions reduction targets in 2022, which includes the total weight of packaging, percentage made from recycled and/or renewable materials, and percentage that is recyclable, reusable, and/or compostable.
The Wendys' greenhouse gas emissions have decreased compared to the previous year. The company's scope 1 and 2 emissions by source (metric tons CO2e) have decreased from 84,398.14 in 2019 to 70,882.76 in 2022. The company's scope 3 emissions by category (metric tons CO2e) have also decreased from 11,751,193 in 2021 to 9,639,630 in 2022.
The Wendys has taken steps to reduce emissions, including investing in renewable energy and implementing sustainable packaging. The company has recovered cooking oil from its fryers and converted it into renewable diesel, reducing greenhouse gas emissions by approximately 65% compared to traditional fossil fuels. The company is also working to implement packaging that is recyclable or compostable, and has installed recycling bins and posted signage encouraging customers and employees to use them properly.
In conclusion, The Wendys is taking steps to reduce its greenhouse gas emissions with specific goals related to scope 1, scope 2, and scope 3 emissions reduction. The Wendys' is investing in renewable energy and sustainable packaging, and is working to educate customers on proper disposal of packaging and has already made progress in reducing its emissions.
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