Tuesday, April 30, 2024
Wynn Resorts (Nasdaq: WYNN) has unveiled its 2023 Environmental, Social, and Governance (ESG) Report alongside the Corporate Responsibility Review, highlighting the company’s initiatives for the year. The documents reveal progress in philanthropy and sustainability efforts across the nation.
The ESG Report details adherence to certain Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) norms. The Corporate Responsibility Review focuses on the company’s dedication to its workforce, the beneficial effects of its operations in various communities, and its commitment to environmental stewardship.
“If you look at our Core Values and Behaviors in this report, you will see that the ideals of caring for people, fair treatment, taking personal responsibility, and driving ongoing improvement are built into who we are,” said Craig S. Billings, CEO of Wynn Resorts. “Those values, in turn, influence who we hire, and that makes all the difference in a business like ours.”
Under the themes of Our People, Our Communities, and Our Planet, Wynn Resorts has achieved significant milestones in environmental, social, and governance areas, including:
Wynn Las Vegas achieved a record by diverting 41% of resort waste away from landfills. The resort takes on the responsibility of sorting recycling materials to ensure maximum recovery. This effort is complemented by a partnership with Clean the World, where over 4,000 pounds of soap from Wynn Las Vegas and Encore Boston Harbor were recycled, aiding hygiene support globally.
Wynn employees raised over $1 million for the Wynn Resorts Foundation through donations and fundraising, marking the company’s most successful year. Altogether, the company donated nearly $9 million in monetary and in-kind contributions to charities across North America, with employees also contributing 35,000 hours of volunteer work. These efforts led to Wynn Resorts being recognized by Forbes as one of the Best Brands for Social Impact in 2023.
In terms of sustainability, Wynn Resorts’ facilities in North America utilized 29% renewable energy. This investment sets the stage for achieving Wynn’s objective of reaching Net-Zero emissions by 2050.
On the front of animal welfare, Wynn Resorts prioritizes humane treatment throughout its supply chain, choosing suppliers that uphold high standards of animal care. In 2023, all U.S. resorts sourced eggs exclusively from cage-free suppliers, with a plan to extend this practice globally by 2026.
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Tags: environmental impact, global reporting initiative, governance, las vegas, social impact, Wynn Resorts
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