MACAU, April 28, 2023 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has published its fifth sustainability strategy for the year 2022 ‘RISE to go Above & Beyond’ (link). Adhering to 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 continues to drive performance and sustainability initiatives to help the Company reach its ambitious goals.
Mr. Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment, said, “Action with positive engagement has been key to our approach to sustainability. While our operations and communities have confronted many sustainability trials and tribulations in the past three years, it is evident that these challenges also present many meaningful opportunities. Our latest sustainability strategy is testament to an integrated resort business operating to the highest standards and for the long term. Melco will continue to sharpen its focus on the needs of the planet and those around us, and to act upon our role in creating shared value through our commitment to Rise to go Above & Beyond.”
Below are some key performance highlights covered in Melco’s latest RISE to go Above & Beyond sustainability strategy.
On energy and climate resilience:
- Expanded our climate-related risk assessment, and with the rigor of the Task Force on Climate-related Financial Disclosures (TCFD) framework to guide our carbon-neutral resort commitments and to address physical and transition risks;
- Extended our greenhouse gas (GHG) emissions inventory to encompass Scope 1 & 2 and all relevant Scope 3 categories, with verification for all scopes;
- Energy-efficiency measures (EEMs) since 2018 have resulted in annualized savings of over 51.3 million kWh, equivalent to the electricity consumption of over 7,000 homes per year1.
On material use and waste:
- Eliminating 1.4 million plastic bottles at our City of Dreams Manila and our Macau properties in 2022 with the NORDAQ 2000 water filtration system (NORDAQ), currently installed across 43% of our rooms and three restaurant outlets. By installing water refilling dispensers, we have also eliminated single-use plastic (SUP) water bottles in all Heart of House areas;
- 9% increase in waste diversion through composting and recycling;
- Achieved annualized savings of over 463,625 m³ through water efficiency measures, an increase of 27% over the previous year.
On community, engagement & investment
- Organized 2,276 community activities with over 22,300 Melco volunteer participants;
- Our in-house, Heart-of-House Roadshows generated over US$1 million worth of business for more than 170 local SMEs.
On safety, health and wellbeing:
- 99% of our colleagues completed the Hotel and Catering Safety Card Training Program training in 2022;
- Close to 500 colleagues participated a series of “Feel Better” in-house mental wellness seminars, organized with our partner, The Women’s General Association of Macau.
On engagement of our people:
- Women comprise 27% of Melco’s boards and 34% of senior management;
- 68% of positions at the “Vice President” level and above have been filled from within Melco’s local community;
- 170 average training hours per colleague in 2022, an increase of 60% over 111 hours in 2021.
On ethical and sustainable supply chain:
- 95% of tea served at City of Dreams Manila has sustainability attributes and 100% of coffee purchased in Manila is home-roasted and procured from local suppliers through the Philippines Coffee Board (PCB)-Le Café Filipina;
- Supporting local farmers and communities and the humane treatment of livestock, Melco has committed to sourcing 100% cage-free eggs by 2025 across all properties. Since March 2022, 100% of the eggs served at City of Dreams Manila are from cage-free, local sources;
- Almost 90% of chemicals sourced in 2022 are in the Green and Amber categories, ahead of our 2025 target;
- Sustainable seafood purchases accounting for 19% of all seafood purchased by weight for our properties in Macau and Manila, an increase of 4% over the previous year;
- 100% completion of training pertaining to modern slavery by our supply chain team in 2022 and extending the Mekong Club training on modern day slavery via the Melco Learning Academy to our suppliers.
On ethics and integrity:
- 97% completion rate of our Corporate Governance induction training on Melco’s Code of Conduct in 2022;
- No material incidents of corruption, anti-competitive behavior or monopolistic practices reported;
- Continued ethics training and capacity-building programs for our suppliers that include business conduct, conflict of interest management, confidentiality and anti-bribery offered in 2022.
On privacy and cybersecurity:
- Procured cyber insurance to protect Melco against financial losses caused by potential cybersecurity incidents.
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 majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.
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1 Conversion via the US Environmental Protection Agency website: www.epa.gov