The Wendy's Company Advances Progress Against Corporate Responsibility Goals

Rhea-AI Summary

The Wendy's Company released its 2022 Corporate Responsibility Report, highlighting progress in its Good Done Right ESG strategy focused on Food, People, and Footprint. Key achievements include:

• Successfully transitioned its pork supply chain away from sow gestation stalls in the U.S. and Canada.
• Nearly doubled new franchise candidates through the Own Your Opportunity initiative, promoting diversity.
• Set goals to cut greenhouse gas emissions by 47% by 2030.
• Raised over $8.2 million for the Dave Thomas Foundation for Adoption.

The company aims for continued growth while enhancing sustainability practices and inclusivity within its franchisee program.

Positive

• Transitioned pork supply chain away from sow gestation stalls in the U.S. and Canada.
• Nearly doubled new franchise candidates through Own Your Opportunity initiative.
• Set a goal to reduce greenhouse gas emissions by 47% by 2030.
• Raised over $8.2 million for the Dave Thomas Foundation for Adoption.

Negative

• None.

The Company achieved key responsible sourcing and climate milestones and, with a focus on diversity, increased access to franchising opportunities

DUBLIN, Ohio, April 25, 2023 /PRNewswire/ -- Today, The Wendy's Company released its 2022 Corporate Responsibility report, detailing significant progress against the three key pillars of the Company's Good Done Right ESG strategy: Food, People and Footprint. The report reflects milestones on Wendy's® journey to drive positive change, including achieving a 10-year goal related to responsibly sourcing pork in the U.S. and Canada, nearly doubling new, approved franchise candidates entering the Wendy's System through the Company's new franchise recruiting initiative, Own Your Opportunity, which aims to increase accessibility and diversity among franchisee candidates, and setting new goals to cut greenhouse gas emissions.

"After establishing our corporate responsibility goals and laying a strong foundation in prior years, we are now taking significant steps forward in delivering on our commitments across Food, People and Footprint," said Chief Corporate Affairs & Sustainability Officer Liliana Esposito. "I am proud of the collective efforts of our team, stakeholders and franchisees as we prepare the brand for accelerated global growth while working toward a more sustainable Wendy's."

The report demonstrates progress against the Company's Good Done Right goals and includes the following highlights.

• Food – Advancing responsible sourcing goal and achieving an animal welfare commitment:
• Identified approximately 140 suppliers in scope for the responsible sourcing program, established criteria used to measure progress and enlisted a technology partner to aid in assessing supplier performance.
• Evaluated about 30 suppliers spanning 90 facilities through the Animal Care Standards Program to benchmark performance and identify trends and areas for improvement in support of Wendy's goal to achieve a comprehensive accounting of animal welfare best practices for beef, pork, chicken, eggs and dairy by 2024. 
• Achieved Wendy's 10-year goal to transition the Company's pork supply chain in the U.S. and Canada away from sow gestation stalls to open pen or group housing for confirmed pregnant sows. 
• People – Creating more inclusive workplaces and communities:
• Nearly doubled new, approved franchise candidates entering the Wendy's System, compared to the prior year through the Company's new franchise recruiting initiative, Own Your Opportunity. The initiative aims to increase accessibility and diversity among franchisee candidates, including women and people of color.
• Broke in-restaurant fundraising records, collecting more than $8.2 million through Boo! Books sales to support the Dave Thomas Foundation for Adoption®, which celebrated its 30th year of helping find forever families for children in foster care. To date, the Wendy's System has raised nearly $300 million to support the Foundation.
• Created a new Employee Resource Group, GiveCare, to provide support and resources for parents and caregivers and to offer a space for employees to share their experiences.   
• Footprint – Reaching key milestones in sustainable packaging and mitigating Wendy's climate impact:
• Set aggressive science-based targets nearly a year ahead of schedule, validated by the Science Based Target initiative, to reduce Scope 1, 2 and targeted Scope 3 greenhouse gas (GHG) emissions by 47% by 2030 across the global System.
• Surpassed the halfway mark on Wendy's goal to sustainably source 100% of customer-facing packaging by 2026 following the rollout of clear plastic drink cups more customers can recycle. 
• Expanded efforts to reduce energy consumption and increase renewable energy procurement, introducing Global Next Gen, the brand's new restaurant design standard, which is approximately 10% more energy efficient than the Company's most efficient existing restaurant design, and subscribing to Duke Energy Florida's Clean Energy Connection pilot program, which supplies select Company restaurants with solar energy.

Last year, the Company announced a portion of executives' 2022 incentive compensation would be linked to progress made against its Good Done Right goals. The Company has now extended this incentive to all bonus-eligible restaurant support employees.

Wendy's recognizes leading reporting industry standards, including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and United Nations Sustainable Development Goals (SDGs) and strives to embed their principles and frameworks throughout the Company's report.

For more information on Wendy's corporate responsibility work, please visit https://www.wendys.com/whatwevalue.

About Wendy's
Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the premise, "Quality Is Our Recipe®", which remains the guidepost of the Wendy's system. Wendy's is best known for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and other signature items like chili, baked potatoes and the Frosty® dessert. The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company's support of the Dave Thomas Foundation for Adoption® and its signature Wendy's Wonderful Kids® program, which seeks to find a loving, forever home for every child in the North American foster care system. Today, Wendy's and its franchisees employ hundreds of thousands of people across approximately 7,000 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. For details on franchising, connect with us at www.wendys.com/franchising. Visit www.wendys.com and www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendys, and on Facebook at www.facebook.com/wendys. 

*Fresh beef available in the contiguous U.S., Alaska and Canada.

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SOURCE The Wendy's Company

FAQ

What were the key achievements in Wendy's 2022 Corporate Responsibility Report?

Wendy's achieved milestones in responsible sourcing, increased franchise diversity, and set greenhouse gas emission reduction goals.

How much did Wendy's raise for the Dave Thomas Foundation for Adoption in 2022?

Wendy's raised over $8.2 million for the Dave Thomas Foundation for Adoption.

What is the greenhouse gas emission reduction target set by Wendy's?

Wendy's aims to reduce greenhouse gas emissions by 47% by 2030.

How did Wendy's improve franchise diversity in 2022?

Wendy's initiated the Own Your Opportunity program, nearly doubling new franchise candidates.