Arcos Dorados Holdings, Inc. (NYSE: ARCO) ("Arcos Dorados" or the "Company"), Latin America's largest restaurant chain and the world's largest independent McDonald's franchisee, today presented its 7th Social Impact and Sustainable Development Report for Latin America and the Caribbean. The Report provides an update on the progress related to the pillars of its "Recipe for the Future" ESG Platform and the implementation of its associated initiatives and policies.
"Caring for people, supporting the communities where we operate and making a positive contribution to the environment, by working ethically and fairly, are among the values that guide us every day at Arcos Dorados. We relied on these values last year to strengthen our commitments to making a positive impact on society and the environment, even in the context of a global pandemic," said Gabriel Serber, Director of Social Impact and Sustainable Development at Arcos Dorados.
Among the many initiatives detailed in the Report, is the Company's commitment to phase out single-use plastics, established three years ago. So far, the Company has reduced the volume of single-use plastic by 40% in its restaurants, equivalent to almost 1,500 tons of plastic in 2020. This was achieved through the removal of plastic straws and lids for cold drinks served in restaurants, the replacement of plastic salad bowls with 100% biodegradable fiber or cardboard containers and a project that could eventually replace all plastic serving trays in its restaurants with climate positive serving trays made from a bio-based thermoplastic material, among other initiatives.
The Social Impact and Sustainable Development Report for Latin America and the Caribbean also details Arcos Dorados' commitment to the communities it serves and how it quickly adapted to the challenges faced in 2020. Guided by its values the Company prioritized the health and wellbeing of its employees and guests by enhancing its industry-benchmark restaurant food safety and hygiene practices with the implementation of the McSafe Program. In keeping with its commitment to support local communities and support youth employment, Arcos Dorados protected employee jobs last year and also supported healthcare workers, first responders and the neediest members of society with donations of food and other essentials.
"We are committed to actively participate in bringing innovative and effective solutions to some of the most important issues facing Latin American and Caribbean societies, irrespective of the operating environment. We are proud of the progress we have made as a company on ESG issues so far but, as leaders, we will never stop looking for ways to contribute. With that in mind, we began 2021 by expanding our reach to leverage our scale and make a positive impact on the world," said Gabriel Serber.
For the first time, this year's Social Impact and Sustainable Development Report for Latin America and the Caribbean included an exhaustive audit performed by the Ernst & Young, which certifies the accuracy of the information contained in the report. This audit was conducted in accordance with GRI (Global Reporting Initiative) standards and based on SASB (Sustainability Accounting Standards Board) indicators; both important benchmarks in the ESG field.
To download the Company's full 2020 Social Impact and Sustainable Development Report, which is available in English, Spanish and Portuguese, please visit www.recetadelfuturo.com.
About Arcos Dorados
Arcos Dorados is the world's largest independent McDonald's franchisee, operating the largest quick service restaurant chain in Latin America and the Caribbean. It has the exclusive right to own, operate and grant franchises of McDonald's restaurants in 20 Latin American and Caribbean countries and territories with more than 2,200 restaurants, operated by the Company or by its sub-franchisees, that together employ over 100 thousand people (as of 03/31/2021). The Company is also committed to the development of the communities in which it operates, to providing young people their first formal job opportunities and to utilize its Scale for Good to achieve a positive environmental impact. Arcos Dorados is listed for trading on the New York Stock Exchange (NYSE: ARCO). To learn more about the Company, please visit our website: www.arcosdorados.com/ir
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