Wynn Resorts has released its Environmental, Social, and Governance Report, which highlights the company’s collaborative promises and set goals for reducing emissions and combating the ever-increasing threat of climate change.
The report also details how the company’s ongoing recovery from the global pandemic coincided with the achievement of a number of progressive ESG and Diversity, Equity, and Inclusion goals, including significant progress in community outreach and crisis relief, responsible business practises, and human rights protection.
Matt Maddox, Wynn Resorts’ CEO, stated in the report: “A truly great company, one founded on the belief that excellence is not just an aspiration but a necessity, and operating in today’s socially and environmentally-fraught world, is called to a higher standard: to take responsibility, not just for our decisions, but for the all future impacts of those decisions. Impacts we ourselves may not live to see, but will have caused, nonetheless.
“Decision-making with careful consideration to the impacts 20 or 30 years from now isn’t just essential, it’s an existential imperative. That is what the future demands of us.”
Goldleaf sustainability programme
The Goldleaf sustainability programme houses scientific solutions to a wide range of environmental and climate concerns that are unique to each of the company’s resorts.
The company has committed to reduce or offset all carbon dioxide produced by its operations by 2050, to stop and reverse year-over-year growth of operational carbon dioxide emissions by 2030, and to increase its supply of renewable energy produced or procured to at least 50 percent of total consumption under the leadership of CEO Matt Maddox and Chief Sustainability Officer Erik Hansen.
These promises are in line with the Intergovernmental Panel on Climate Change’s recommendations for keeping global warming below 1.5 degrees Celsius, as outlined in the 2015 Paris Climate Accord.
The corporation completed numerous large renewable energy, trash diversion, and emissions reduction initiatives in 2020, many of which had been in the works for years. Installing 23 Megawatts of solar power capacity in the United States and lowering annual energy usage by 20 percent in 2020 compared to 2015 through capital expenditures in important energy-saving technology and operational improvements are among them.
Additional goals include getting 100 percent of Encore Boston Harbor’s electricity from renewable and green sources and diverting 100 percent of its garbage from landfill by 2020, as well as lowering Wynn Las Vegas’ carbon emissions by nearly 80,000 metric tonnes from 2019 to 2020.
The research also highlights long-standing business ideals and fundamental behaviours that govern fair, transparent, and ethical conduct. Highlights in the key areas of COVID-19 pandemic relief, social impact, corporate governance, DEI, and human rights under the pillars of Our People, Our Communities, and Our Planet include: CEO Matt Maddox spearheading the creation of the hospitality industry’s first science-based Health & Safety Plan; Wynn Las Vegas collaboration with University Medical Center to open the UMC COVID-19 Vaccination Centre and its construction of the Lighthouse Lab COVID-19 testing facility.
Cash and in-kind gifts
In 2020, the company provided $23 million in cash and in-kind gifts to organisations worldwide, including $4.75 million in direct COVID-19 relief efforts, and its employees volunteered over 34,000 hours.
Meanwhile, the Wynn Resorts Human Rights Policy was expanded in 2020 to include specific expectations and core principles for diversity, inclusion, and non-discrimination; and, finally, extensive training and security procedures to combat human trafficking and commercial sexual exploitation were enhanced in 2020.