To mark World Environment Day 2023, Westlife Foodworld Ltd. (formerly Westlife Development Ltd.) - owner and operator of McDonald's restaurants in West and South India will progressively install rooftop solar panels on one-third of its new restaurants in FY24. This move is part of the company's goal to increase the use of renewable energy.
In the last two years, Westlife has reduced its carbon footprint by 16,308 tonne by saving 19.58 million units of electricity, akin to planting 749,086 trees. Westlife's reduced reliance on non-renewable sources bodes well for its operational efficiencies by saving electricity and cutting down the release of hundreds of tonne of CO2, which further helps in lowering climate risk.
Smita Jatia, Vice Chairperson, Westlife Foodworld said, "We are committed to a lower carbon footprint, achieved through increased recycling and reuse of materials, use of renewable energy, and reduced consumption. We recognise the critical role that businesses must play in addressing climate change and we are proud to walk the talk. With each step, we are becoming stronger in our fight against climate change. We look forward to continuing our efforts towards a greener future and to serving our customers with delicious and sustainable food."
Westlife's commitment to sustainability extends to measures that can help conserve resources. The company has eliminated single-use plastics from customer-facing packaging. It is also improving energy efficiency at its existing restaurants with the use of LED and OATS (order assembly table set).
Sustainable sourcing is driven by tapping into green-certified ingredients such as UTZ-certified coffee beans, one of the world's largest sustainable programmes for coffee and cocoa farming. The cooking oil in McDonald's West and South kitchens is converted into biodiesel, as Westlife is known for pioneering the recycling of converted biodiesel in India.
The drive to sustain the environment is not restricted to processes and equipment but has been adopted by Westlife's employees too. Over 10,000 employees have taken the 'Lifestyle for the Environment' Pledge on the MyGov Pledge platform to showcase their commitment to consciously participate in taking up environmental lifestyle and inculcate long-term environment friendly habits. Hundreds of them from 11 cities have taken up beach-cleaning, planting saplings, and raising awareness about water conservation to mirror the company's focus on green initiatives.
To promote planting for a greener future and celebrate World Environment Day in the community, McDonald's restaurants in West and South India are giving away Marigold seeds to their customers.
Each of these steps, including using more renewable energy, will advance the company toward its goal of becoming carbon neutral by 2050. The pledge through the United Nations Climate Change reflects Westlife's deep commitment to environmental conservation and reducing its carbon footprint.
Shares of Westlife Foodworld Ltd was last trading in BSE at Rs. 830.05 as compared to the previous close of Rs. 771.50. The total number of shares traded during the day was 43068 in over 3640 trades.
The stock hit an intraday high of Rs. 851.35 and intraday low of 773.40. The net turnover during the day was Rs. 35415272.00.