Wynn Resorts has shared its Environmental, Social, and Governance (ESG) Report, defining the company’s important milestones within this field in 2021. The report provides insight into initiatives including the company’s “continued commitment” to decreasing emissions; an enhanced Diversity and Inclusion program; a comprehensive Human Trafficking Prevention program; and transformative investments in the communities in which the company operates, according to a press release.
“Wynn Resorts brings the same level of effort and dedication to our ESG efforts as we do to all our business operations. We focus those efforts around three key areas: Our People, Our Communities, and Our Planet,” said Craig Billings, CEO of Wynn Resorts. “As proud as I am of the accomplishments mentioned in this report, I’m confident our record will continue to improve thanks to our talented and dedicated team.”
The company has its own sustainability program, known as Goldleaf, “which houses scientific solutions to the wide range of environment and climate challenges that are unique to each resort.” In 2020, the company sought to define ambitious corporate sustainability goals in line with the recommendations made by the Intergovernmental Panel on Climate Change:
- Net-Zero by 2050: To reduce or offset all carbon dioxide (CO2) produced by Wynn operations no later than 2050.
- Carbon Dioxide Emissions Peak by 2030: To stop and reverse year-over-year growth of operational carbon dioxide (CO2) emissions by 2030.
- 50% Renewable Energy Procurement by 2030: To increase Wynn Resorts’ supply of renewable energy produced or procured to at least 50% of total consumption by 2030.
In 2021, the company says it achieved key metrics to advance environmental initiatives. Wynn Las Vegas reduced its annual water consumption by 16% relative to 2019, collaborating on water conservation goals with the Southern Nevada Water Authority. Meanwhile, Encore Boston Harbor continued to receive 100% of its purchased electricity from renewable sources of power; while Wynn Las Vegas recycled, reused, or composted 4,000 tons of material.
Wynn Las Vegas
In a press statement, the company announced that as a testament to these efforts, Wynn Resorts was recently recognized as a Travel + Leisure Global Vision Award winner. The award spotlights international companies, individuals, destinations, and organizations taking strides to develop more sustainable and responsible travel products, practices, and experiences.
Additionally, the 2021 ESG report showcases “long-standing corporate values of giving and core behaviors that govern fair, transparent, and ethical behavior.” Under the pillars of Our People, Our Communities, and Our Planet, highlights include a comprehensive Human Trafficking Prevention Program implemented across Wynn Las Vegas and Encore Boston Harbor; a three-phase Diversity and Inclusion Program to increase representation, recruitment, and retention of diversity within the workforce; and a continued commitment to hosting communities.
Last month, Wynn Resorts reported record first-quarter cash flow in Las Vegas and Boston and total revenue of $953.3 million, up 29.4% from the comparable period last year, despite ongoing headwinds in the Macau segment. It is currently working to move forward with a resort planned in the United Arab Emirates.
