Whitbread is a hospitality company. Based in the UK, the company operates hotels, coffee shops and restaurants. Whitbread operates in two segments: Hotels & Restaurants, and Costa. The Hotels & Restaurants segment provides services in relation to accommodation and food. The Costa segment consists of operations of its branded, owned and franchised coffee outlets.
As a fast growing company, Whitbread is outspoken about its responsibility to be as energy efficient as possible, minimize waste and divert waste from landfills. To this end, the company has set a series of 2020 targets using a 2014/15 baseline: to reduce carbon by 15%, to reduce water consumption by 20% and to increase direct operations recycling rate to 80%. Moreover, the company procures approximately 60% of its UK electricity from renewable sources. To further reduce the company’s direct environmental impact, Whitbread employs green building design. For instance, Costa’s Eco Pod in Telford, was the UK’s first “zero energy” coffee shop/restaurant. Built with a Forest Stewardship Council (FSC) certified timber frame and super insulated façade, it also utilizes intelligent orientation to optimize sun and shade, solar panels and under floor heating system. In regard to food safety and sourcing, Whitbread has responsible sourcing policies for and has set a 2020 target of 100% accreditation of critical commodities. The company has also implemented a range of nutritional targets and continues to offer healthier food options.
Whitbread’s palm oil policy lacks goals to source a traceable, sustainable palm oil supply through, for example, Roundtable on Sustainable Palm Oil (RSPO) segregated or identity preserved sources.
Industry: Consumer Discretionary
Country: United Kingdom
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 06/30/2017 and may not reflect current opinions or subsequent events.