Driving performance and sustainability initiatives to reach ambitious goals
MACAU, May 24, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has published its fourth sustainability strategy RISE to go Above & Beyond (link). Through maintaining four key material topics that underpin Melco’s sustainability commitment, including “Restoring our World”, “Inspiring our Communities”, “Sustaining our Supply Chain” and “Empowering our Business”, the strategy drives performance and sustainability initiatives to help the Company reach its ambitious goals.
Mr. Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment, said, “Melco has continued to rise beyond continuing pandemic challenges and in ways that have indeed accelerated our sustainability efforts in 2021. From colleagues to suppliers and partners, the Company is strengthening its actions to collectively address longer-term critical issues, including societal health, climate change and innovation. We continue to be determined to emerge from this pivotal moment in time, not as we were before, but by being more deeply aware of the needs of the world around us, and more purposeful in how business can meet those needs.”
Initiatives and achievements highlighted in RISE to go Above & Beyond include:
- Keeping colleagues and communities safe, healthy and supported remained central to Melco’s operations. In-house mental wellness seminars were launched, colleagues and guests were offered healthy and sustainable food options, and the continued success of campaigns to support community needs and promote the prosperity of small and medium enterprises (SMEs) was noted.
- Over US$2 million Get the Jab immunity incentive program for colleagues motivated more than 95% of its global workforce to get vaccinated.
- Becoming the first and only integrated resort operator to achieve the esteemed responsible gaming (RG) accreditation, RG Check, across its global portfolio.
- A comprehensive review of Melco’s operations and supply chain to establish a roadmap to decarbonization was launched, mapping out actions to help neutralize greenhouse gas emissions from business activities, together with a confirmed system to measure and transform data into actionable insights to empower change throughout the Company’s value chain.
- The disclosure of Scope 3 emissions from two categories – Downstream Leased Assets and Fuel-and Energy-Related Activities (FERA) has been introduced in this year’s GHG reporting. Melco is continuing its assessment to identify and quantify significant indirect emissions and will disclose Scope 3 emissions from additional sources going forward.
- The Company has also begun to assess climate-related risks and opportunities across its portfolio and is committed to implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Moving forward, Melco will be conducting a scenario analysis, using the TCFD recommendations as a guide, expanding the Company’s efforts to address climate mitigation and adaptation measures.
- Retaining its score of A- in climate-related supplier engagement strategy with the CDP.
- Through sustainable sourcing, progressing ahead of the Company’s 2030 target by achieving 100% of bed and bath linen procured with OEKO-TEX®- certified cotton. Additionally, in 2021, Melco sourced 92% of all chemicals in the Green and Amber categories, progressing in advance of its 2025 target.
- The continual success of Melco’s Simple Acts of Kindness initiative, which reached out to over 1,300 NGOs, associations, schools, nurseries, governmental departments and SMEs with the help of over 16,000 volunteer participants in 2021.
- Over US$950,000 worth of additional revenue for local SMEs was generated in 2021 through Melco’s Heart-of-House Roadshows that provided rent-free space for SMEs to sell directly to Melco colleagues.
- Studio City Phase 2 and City of Dreams Mediterranean were both recognized by the trusted mark of sustainability, BREEAM, with ‘Excellent’ environmental ratings at the design stage and a ‘Regional Award, Asia’ for Studio City Phase 2.
- Partnership with Winnow and the London School of Economics and Political Science enabled AI technology to help reduce food waste by 35% in employee dining rooms over a five-month study period.
About Melco Resorts & Entertainment Limited
The Company, with its American depositary shares listed on the NASDAQ Global Select Market (NASDAQ: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com), an integrated resort located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease. For more information about the Company, please visit www.melco-resorts.com.
The Company is strongly supported by its single largest shareholder, Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is substantially owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.
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