Wynn Resorts Issues 2018 Environmental, Social and Governance Report
Wynn Resorts Issues 2018 Environmental, Social and Governance Report
Release Date: 07 Aug 2019
Wynn Resorts Issues 2018 Environmental, Social and Governance Report
LAS VEGAS(August 7, 2019) — Wynn Resorts today issued its 2018 Environmental, Social and Governance Report, providing a comprehensive view of the Company's commitment to responsible business practices, environmental protection, and philanthropy.
In a forward to the report, Wynn Resorts CEO Matt Maddox remarked, "For us, sustainability is more than just finding efficiencies to the economic, environmental, and social issues we face. It is about creating an open dialogue, learning from diverse perspectives, and changing with the times. Listening to the needs of our employees, investors, business partners, and community partners was an important part of this process. In 2018, Wynn Resorts implemented significant new policies and programs toward our journey of improving the way we govern, manage, and operate."
The report details actions taken throughout 2018 in several key areas: corporate governance, global growth, workforce development, philanthropic efforts, responsible and ethical sourcing, and prioritizing a healthy planet. Highlights include:
Creation of the Wynn Resorts Department for Corporate Energy and Sustainability that aligns the Company's global approach to environmental protection. The department solves complex sustainability issues with state-of-the-art programs, with the wider mission of being a resource for all industries by sharing solutions that encourage a collective pledge to progress.
Appointment of the Company's first Chief Sustainability Officer, Erik Hansen, who oversees the Department for Corporate Energy and Sustainability. Hansen is responsible for developing the Company's global sustainability goals and implementing vital systems that impact the operation of every part of each Wynn resort, focused on areas including recycling, responsible sourcing, waste reduction, energy procurement, water conservation, and more.
Wynn Las Vegas earns Four Green Globes, the highest sustainable building certification from the Green Building Initiative, the definitive qualifier of energy-efficient and environmentally sustainable buildings. To achieve this distinction, an independent third party inspected nearly eight million square feet of the resort's facilities and operating systems. In addition, Wynn Resorts was named a top corporate user of solar energy by the Solar Energy Industries Association after opening the Wynn Solar Field in 2018, which offsets up to 75% of the resort's peak energy needs.
Completion of the "Living Shoreline" at Encore Boston Harbor, a 24,000 square foot area of the Mystic River surrounding the resort that has reopened the shoreline to the public for the first time in 100 years and created an aquatic wildlife habitat.
Reinventing single-use plastics at Wynn Las Vegas, which was the first Las Vegas Strip resort to drive meaningful impact by introducing a new corn-based straw that biodegrades in 90 days, abating more than 19 million plastic straws annually. Wynn Macau and Wynn Palace have also mitigated the use of plastic straws by switching to a potato-based alternative that biodegrades in 18-24 months.
Introduction of the Transformative Impact Model, a year-long commitment to a nonprofit that combines Wynn Resort's extensive resources with additional business partners to revitalize the nonprofit's state of operation. The inaugural recipient was The Shade Tree, a shelter that helps women and children who are victims of homelessness, sex trafficking, and abuse.
Significant enhancement to the Wynn Resorts Corporate Matching Program, which is now the highest of any resort company, providing a dollar-for-dollar match up to $50,000 per employee, per year. Including the match, more than $600,000 was given to nonprofits in 2018 that are closest to the hearts of Wynn employees.
At the corporate level, Wynn Resorts sponsored more than 200 events and contributed $17 million globally in support of dozens of charitable causes aiding education programs, cultural enrichment, community development, at-risk youth, and much more. Wynn employees collectively donated more than 46,000 hours of time to charitable causes in 2018, a 50% increase from 2017.
Wynn Resorts has issued its 2018 Global Environmental, Social and Governance Report with data that references selected Global Reporting Index standards.
The full report can be found at www.WynnSustainability.com.