A Message from David Gibbs
2020 marked a turning point for societies and businesses around the world. The impact on Yum!, our restaurants, franchisees and communities was no exception. It was a year filled with challenges, but also one that clarified our focus on what’s most important, creating an opportunity to chart a sustainable future guided by purpose around societal issues our stakeholders care about like equality, inclusion and climate change.
Throughout the pandemic, everyone in the Yum! family has shown that they are capable of amazing things. I am incredibly proud of all the work that was done on the front lines and behind the scenes to serve our customers and communities and keep each other safe, like rolling out new safety protocols and contactless delivery programs in record time.
Just as our employees have taken care of customers and one another, Yum!, in turn, is taking care of them. We made our first grants through the Unlocking Opportunity Initiative, a $100 million global commitment to support front-line restaurant teams and community members through equity and inclusion, education, and entrepreneurship. At least $6 million of this total will be used to advance opportunity in Louisville, Kentucky, hometown of Yum! and KFC. We also joined the OneTen coalition, uniting with other U.S. businesses in advancing equity and career opportunity for underrepresented people of color.
People is the first pillar in Yum!’s Recipe for Good strategy, but equally important are our efforts to deliver goodness for the planet and through our food. Yum! recently announced science-based targets to reduce our greenhouse gas (GHG) emissions 46% below 2019 levels by 2030. We will achieve this by collaborating closely with our brands, franchisees and suppliers to source ingredients and operate restaurants with less environmental impact. We’re also continuing our work around sustainable packaging and waste reduction as part of our larger sustainability strategy.
When it comes to our Food pillar, we’ve never been more focused on food safety and delivering trust in every bite. We’re also expanding our investments in plant-based and vegetarian options. Through a new strategic partnership with Beyond Meat, Inc., our brands will introduce plant-based menu offerings to meet surging demand for sustainable options and flexible diets. Within our existing menus, we are continually working to improve nutritional profiles without compromising on the taste our customers crave.
We emerged from 2020 primed for sustainable growth, made better and more resilient by the challenges we faced throughout the year. I’m confident that our Recipe for Growth & Good has all the right ingredients for Yum! to succeed and create positive impacts for our people, franchisees, customers and communities.
Thanks for your continued support.
Chief Executive Officer
Yum! Brands, Inc.