Melco reaffirms commitment to sustainability in 2023 RISE to go Above & Beyond report

MACAU, April 26, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has published its sixth sustainability strategy for the year 2023 ‘RISE to go Above & Beyond’ (link). Continuing to adhere to four key material topics that underline Melco’s commitment to sustainability, 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 & Entertainment, said, “Our commitment to sustainability remains steadfast to our foundational principles—behaving responsibly, serving our communities, transparently sharing our journey, and igniting positive change through the unparalleled power of entertainment. The unveiling of City of Dreams Mediterranean and Studio City Phase 2 were not mere expansions; they were bold statements of our ingrained sustainability ethos, reflecting our commitment at every operational level and touchpoint.

“RISE to go Above & Beyond is about more than just business goals; it’s about making a positive impact, leading by example, and showing that it’s possible to be successful while being responsible stewards of our planet and communities.”

Below are some key performance highlights covered in Melco’s latest RISE to go Above & Beyond sustainability strategy.

On Strategy:

• Updated materiality assessment process to integrate the concept of double materiality. As in previous years, impact materiality was guided by the GRI Standards and, in 2023, the assessment includes a distinct consideration of financial impact by integrating the financial materiality approach of the IFRS S1 and SASB standards.
  

On Partnerships:

• Melco was the first Asian-headquartered donor and founding member to join the Sustainable Hospitality Alliance to accelerate the “Path to Net Positive Hospitality”.
• Together with the Lever Foundation, Melco has set its goal of sourcing 100% cage-free eggs by 2025.

On Energy and Climate Resilience:

• Continuing to assess climate-related risk and adopting mitigation plans. Energy-efficiency measures since 2018 have resulted in annualized savings of over 57.4 million kWh.
• There are more than 25,000 photovoltaic panels at all properties in Macau, Manila and Cyprus, generating on average 9,900 MWh annually.

On Material Use and Waste: