The Wendy's Company Reports 2023 Corporate Responsibility Progress

Rhea-AI Summary

The Wendy's Company released its 2023 Corporate Responsibility report, showcasing progress in responsible food sourcing, workplace equity, and emissions reduction. The report highlights stakeholder collaboration and transparency in achieving sustainability goals.

Positive

• Wendy's evaluated suppliers for animal welfare practices and expanded responsible sourcing programs.

• The Company increased diversity in leadership and raised funds for the Dave Thomas Foundation for Adoption.

• Wendy's reduced GHG emissions and engaged franchisees in energy reporting and environmental initiatives.

Negative

• None.

The Company continues to make advancements toward delivering high-quality food responsibly, creating more equitable and inclusive workplaces and reducing emissions across Company operations and franchise restaurants

DUBLIN, Ohio, May 6, 2024 /PRNewswire/ -- The Wendy's Company released its 2023 Corporate Responsibility report today, highlighting continued progress against Good Done Right, the Company's corporate responsibility strategy. In the report, Wendy's® details progress the Company has made across initiatives focused on responsible sourcing, fostering equitable workplaces and communities, and reducing greenhouse gas (GHG) emissions from restaurant operations and the supply chain. In 2023, Wendy's also strengthened stakeholder collaboration – a key ingredient to advancements across its Food, People and Footprint pillars – particularly with franchisees and direct and indirect suppliers.

"Our Good Done Right strategy is backed by action— from sourcing our quality ingredients responsibly to engaging and making a positive difference in our communities," said Chief Corporate Affairs & Sustainability Officer, Liliana Esposito. "We are deliberate about gaining greater visibility into our supply chain, making measurable progress against our goals and transparently sharing the results of our efforts – all possible thanks to the commitment and collaboration of our employees, franchisees and industry partners."

Wendy's 2023 Corporate Responsibility report demonstrates progress against the Company's Good Done Right goals and includes the following highlights.

Food – Delivering high-quality food responsibly and transparently:

• Evaluated 26 of our suppliers with whom we directly do business under Wendy's Animal Care Standards Program for animal welfare best practices. We also extended the program deeper into our protein supply chain, driving greater visibility into an extended supply chain that includes more than 20,000 farms, ranches and facilities.
• Invited 100% of suppliers in scope for our responsible sourcing program to enroll in our self-assessment platform, which helps the Company better understand and track supplier performance on key environmental, social and governance metrics.
• Aligned with the U.S. Roundtable for Responsible Beef's retail sector targets for air and GHG emissions, conservation of natural resources and more.
• Completed more than 12,000 global Food Safety Assessments at Wendy's restaurants in partnership with EcoSure®, a division of Ecolab®.

People – Fostering more equitable workplaces and communities:

• Increased the diversity of representation among senior leadership at the Company and received recognition in the U.S. and Canada for industry-leading franchisee support and training as the Wendy's System continues to grow across the globe.
• Raised more than $27 million for the Dave Thomas Foundation for Adoption®, including record support during the annual Frosty® Boo! Books® campaign, which raised an unprecedented $9.2 million across the Wendy's System.
• Supported Company employees by hosting more than 40 Employee Resource Group events and implementing a new Human Capital Management System to enable greater automation and self-service, while also simplifying business processes.

Footprint – Delivering more with less environmental impact:

• Decreased Company GHG emissions (Scope 1 and 2) by 26%, and franchisee emissions by 11% per restaurant (Scope 3) – both compared to 2019 levels.
• More than doubled the number of franchisees reporting through Wendy's Energy Challenge, with 37 franchisees reporting energy data* in 2023, up from 18 franchisees reporting data* in 2022. More than 2,700 franchise-operated restaurants are participating in WEC as of the end of 2023.
• Initiated a deforestation risk assessment to prepare for measuring and managing forestry, land and agriculture (FLAG) related emissions.

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.

*Franchisees reported 2022 energy data in 2023 and 2021 data in 2022.
**Fresh beef available in the contiguous U.S., Alaska and Canada.

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SOURCE The Wendy's Company

FAQ

What is the focus of Wendy's 2023 Corporate Responsibility report?

The report focuses on responsible food sourcing, workplace equity, and emissions reduction.

How did Wendy's contribute to animal welfare in 2023?

Wendy's evaluated 26 suppliers for animal welfare best practices and expanded responsible sourcing programs.

How much did Wendy's raise for the Dave Thomas Foundation for Adoption in 2023?

Wendy's raised over $27 million for the Dave Thomas Foundation for Adoption, including record support during the Frosty Boo! Books campaign.

How did Wendy's reduce GHG emissions in 2023?

Wendy's decreased Company GHG emissions by 26% and franchisee emissions by 11% per restaurant compared to 2019 levels.