Climate targets to be revised

Caesars shares 2021-2022 CSR report featuring "a refresh" in priority topics

Heather Rapp, SVP of Corporate Social Responsibility for Caesars Entertainment.
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Caesars Entertainment announced Monday it has released its 2021-2022 Corporate Social Responsibility reportThe report reflects "a refresh in priority topics" after a materiality assessment and stakeholder mapping exercise.

The CSR report also highlights progress toward Caesars' Diversity, Equity and Inclusion goal of gender and racial equality in leadership roles by 2025, progress toward the company's goal of reduction in Scope 1 + 2 emissions by 100% by 2050, a new educational assistance program for Team Members and more.  

Heather Rapp, SVP of Corporate Social Responsibility for Caesars Entertainment, stated: "As we continue to work toward and reflect on our goals, the materiality assessment that was conducted this year was extremely helpful for us to engage in insightful conversations and review the importance of CSR-related issues."

"Caesars has created a strong CSR framework that continues to drive our mission of being a better employer, corporate citizen and diversified gaming leader. This report and this year's objectives are a testament to that progress," she added.  

When it comes to environmental impact, Caesars is working to divert waste from landfills, reduce water consumption and reduce its carbon footprint, the company noted. Caesars is working toward a reduction in Scope 1 + 2 emissions by 100% by 2050. In 2021, Caesars saw a 33.9% absolute reduction in Scope 1 + 2 emissions from 2011.

Caesars aims to divert 65% of waste generated at properties from landfills by 2030. In 2021, 40% of waste was diverted from landfills. The brand has also pledged to reduce water consumption by 20% per square foot by 2035 over a 2019 baseline. In 2021, Caesars saw a reduction of 15% in this respect. 

"Currently, our Science Based Targets commit us to reducing 100% of our 2011 emissions by 2050 to meet scientific guidelines needed to achieve global warming levels that are 'Well Below 2 degrees'," the company wrote. "We are reviewing these targets to meet updated Science Based Targets initiative (SBTi) guidelines to align with a threshold of “Below 1.5 degrees,” which the scientific community now believes must be achieved to avoid catastrophic climate change."

"We plan to submit our proposal for our more ambitious climate targets to SBTi in 2023. In the meantime, we are trending towards our interim 2025 target ahead of time and have plans to deliver our 2050 target," Caesars stated.

In terms of Diversity, Equity and Inclusion, to further advance the company's commitment in this area for its workforce, communities and supply base, Caesars pledged DEI goals with a target of achieving gender and racial equality in leadership roles by 2025. Currently, women hold 46% of mid-level leadership roles and 32% of senior leadership roles; while 43% of racial/ethnically diverse team members hold leadership roles and 19% hold senior leadership roles.

In terms of education, in 2022, Caesars launched a new educational assistance program for team members, All-In On Education, including tuition assistance, low to no-cost education options, student loan debt repayment, college savings plans and dependent scholarship opportunities.  

The company began unconscious bias training for its Team Member population, including its senior executives and Board of Directors. "Our goal is to have all team members complete unconscious bias training by mid-2023. Alongside awareness, we are progressing towards achieving our targets through three main strategies," Caesars noted.

In a commitment to diversity, the company is extending searches to historically Black colleges and universities, and other schools; driving inclusion and retention, conducting ongoing inclusion assessments among our Team Members through surveys; and developing its team members, advancing leadership development and succession planning with DEI in mind. 

In 2021, 25% of the company's net revenue was distributed in the form of compensation, benefits and taxes for its team members’ daily work and contribution to advancing its goals. Additionally, the company stated it has paid more than $1.8 billion in taxes and fees to local, state and federal authorities; and in total, it distributed more than $7.3 billion to stakeholders in 2021.

Sean McBurney, Regional President, Las Vegas, stated: “As the largest gaming company in the country, Caesars Entertainment has the opportunity and responsibility to ensure our communities thrive in meaningful ways."

"From offering a variety of resources to collaborations and partnerships with nonprofits, we’re always seeking new ways to support the most vulnerable in our communities. We see first-hand how our commitment shapes the future and we go all-in to deliver on our promise to support those in need," he added. 

Access the company's CSR report here. 

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