Caesars Entertainment Corporation (NASDAQ: CZR), the world's most diversified casino-entertainment provider, today shared its progress across a series of leadership initiatives that demonstrate its long-time commitment to carbon management and reduction.
Caesars earned a perfect 100/100 on the 2015 Carbon Disclosure Project (CDP) Climate Disclosure Score and landed a spot on the Climate Disclosure Leadership Index (CDLI). The recognition indicates that Caesars is among the top 10% of U.S. companies participating in the CDP process. The CDLI honors the quality of climate change related information Caesars has disclosed to investors and the global marketplace through CDP, an international not-for-profit.
Caesars is among the global organizations that have committed to business leadership and policy alignment on climate through an initiative led by We Mean Business, a coalition of organizations including CDP, World Resources Institute (WRI), and World Wildlife Fund (WWF), among others. The commitments convey a solidarity among companies that recognize the significant financial risks - and economic opportunities - created by climate change. In advance of COP21, the UN conference at which national leaders will come together to reach a global agreement to reduce carbon emissions and limit the Earth's warming, the commitments are designed to urge policymakers and business leaders to recognize the urgency in tackling climate change.
"Caesars sees the importance of smart climate strategy to ensure its long term financial health for shareholders, as well as a way to create a healthy, positive experience for our guests," said Mark P. Frissora, President and CEO of Caesars Entertainment. "We are committed to both social and environmental sustainability within our properties and the communities in which we operate. We also support the legislation being considered at COP21 in order to create the necessary urgency around these critical issues."
Further, Caesars has committed to establishing science-based emission targets that will be announced publicly next year. Science-based targets allow organizations to determine how much to cut emissions in order to support the scientific and international community's goal of keeping global mean temperatures from rising greater than 2 degrees C above pre-industrialized levels.
"Caesars joins nearly 100 other companies in committing to adopt emissions reduction targets that are directly in line with climate science," said Nigel Topping, CEO of We Mean Business. "Science-based target setting drives the innovations needed to transition to a low-carbon, sustainable economy. These targets help improve companies' bottom lines by creating new business models and sources of value - and they set an example for policymakers to follow."
The carbon management strategy developed by Caesars is a cornerstone of the company's CodeGreen environmental program, which was established in 2007. Activities to reduce energy and associated carbon emissions include things like the installation of more than 14,000 digital thermostats with integrated occupancy sensors in guestrooms; the deployment of more than 200,000 high-efficiency LED light bulbs; the installation of occupancy control sensors for lighting; the conversion of more than 16,000 showerheads and aerators to low-flow versions; and the implementation of operational changes in guestrooms, convention spaces and food and beverage outlets to reduce energy usage.
Caesars has reduced its energy consumption on a per-square-foot basis by 21.3% since 2007, exceeding its 2015 target. It has since set a new 2020 goal of further reducing fossil fuel based consumption (per air-conditioned square foot of space) by 30% from its 2007 baseline.
"Our progress reflects many years of hard work around energy and carbon management," said Eric Dominguez, Vice President of Facilities, Engineering & Sustainability. "While we still have a long way to go, we're very proud of the progress we've made and the recognition we've received."
For more information on Caesars' Corporate Citizenship, please follow @CitizenCaesars on Twitter and visit the Corporate Citizenship blog at www.caesarscorporate.com/about-caesars/caesars-citizenship-blog.
About Caesars Entertainment
Caesars Entertainment Corporation (CEC) is the world's most diversified casino-entertainment provider and the most geographically diverse U.S. casino-entertainment company. CEC is mainly comprised of the following three entities: the majority owned operating subsidiary Caesars Entertainment Operating Company, wholly owned Caesars Entertainment Resort Properties and Caesars Growth Properties, in which we hold a variable economic interest. Since its beginning in Reno, Nevada, 75 years ago, CEC has grown through development of new resorts, expansions and acquisitions and its portfolio of subsidiaries now operate 50 casinos in 13 U.S. states and five countries. The Company's resorts operate primarily under the Caesars®, Harrah's® and Horseshoe® brand names. CEC's portfolio also includes the London Clubs International family of casinos. CEC is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. The Company is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment. For more information, please visit www.caesarscorporate.com.