WYOMISSING, PA — PENN Entertainment, Inc. (Nasdaq: PENN), a leading name in the gaming and entertainment industry, has disclosed its 2023 Corporate Social Responsibility (CSR) report, shedding light on the company’s comprehensive Environmental, Social, and Governance (ESG) efforts. This move highlights PENN’s commitment to social responsibility and sustainable business practices, reflecting a growing trend among corporations to prioritize not just financial performance but also positive societal impact.
The report, accessible through the company’s corporate responsibility webpage, outlines PENN’s multifaceted approach to CSR. It includes significant donations exceeding $8 million to local charities and more than $17 million funneled into economic development grants. Among its philanthropic endeavors, PENN has also provided substantial support to veterans and military-focused nonprofit organizations, contributing over $750,000 in cash and in-kind donations and initiating a new military scholarship at Penn State Berks.
Employee engagement in community service is another pillar of PENN’s CSR strategy, with team members volunteering over 9,500 hours to assist those in need. The company further advances its social commitments through the implementation of a Diverse Vendor Incubator Program, surpassing its goals for diverse vendor procurement with a total expenditure exceeding $108 million.
In addition to social initiatives, the report highlights PENN’s strides in environmental stewardship. Key achievements include the launch of “PENN Women,” an employee resource group fostering inclusivity and mentorship, alongside enhanced sustainability efforts. Noteworthy is the company’s completion of its first Scope 3 greenhouse gas emissions inventory review, an update on Scope 1 and 2 assessments, and the establishment of a greenhouse gas reduction goal, emphasizing its dedication to minimizing environmental impact.
Jay Snowden, CEO and President of PENN Entertainment, expressed gratitude towards the company’s governance committee and internal ESG and Diversity Committees for their role in driving forward PENN’s CSR objectives. Snowden’s remarks reflect a strong leadership commitment to embedding social responsibility and environmental sustainability into the core business model, aiming to benefit team members, customers, and stakeholders alike.
PENN’s comprehensive reporting on its ESG initiatives resonates with a broader corporate shift towards transparency and accountability in business practices. By prioritizing social and environmental concerns alongside economic goals, PENN Entertainment sets a precedent for responsible corporate citizenship within the gaming and entertainment sector, with potential to inspire similar actions across industries.
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