A Message from Matt Maddox, CEO of Wynn Resorts
In our 2020 ESG Report, we list “excellence” as one of our core values. Certainly, any good company believing in the concept of excellence must deliver outstanding experiences and service, delivered by the best employees.
But a truly great company, one founded on the belief that excellence is not just an aspiration but a necessity, and operating in today’s socially and environmentally-fraught world, is called to a higher standard: to take responsibility, not just for our decisions, but for the future impacts of those decisions. Impacts we ourselves may not live to see, but will have caused, nonetheless.
The first core behavior Wynn Resorts expects of our employees is to “Care About Everyone and Everything” and I expect no less from the organization as a whole. With all of the information and data available to us, it’s not difficult to discern if a decision made today will be more or less likely to result in a climate that is sustainable and safe. Or if it will be more or less likely to foster a society of greater social justice.
Decision-making with careful consideration to impacts 20 or 30 years from now isn’t just essential, it’s an existential imperative. That is what the future demands of us.
That is why you’ll read in this report that I set a goal of achieving Net-Zero of carbon emissions by 2050. By the way, we’re also going to do it the right way, which is to ensure that all of our vendors are Net-Zero as well. Being Net-Zero ourselves does nothing for the climate our children will be forced to live in if we don’t insist our vendors share and abide by the same goals.
Three years ago, I set a goal of making Wynn Las Vegas energy independent, with a focus on renewables. Today, we procure 75% of our peak energy demand for Las Vegas from renewable resources and I’m proud of our team for that accomplishment. Now, I’ve set a new goal for us to procure or produce 50% of our energy from renewable sources by 2030. I’ve also declared 2030 as the last year in which we allow ourselves any year-over-year increase in carbon emissions. After that, each year will be a reduction — we’re going to try as hard as possible to do it even sooner.
Equally as important, our hiring decisions, our employee compensation programs, and our workplace policies must not just benefit our employees today. They will contribute to the evolution of a society that is fairer, more just, and frankly more considerate.
Wynn Resorts can do this. We have mastered the execution of our product: creating singular guest experiences at the highest level. We will apply the same uncompromising attention to excellence to achieve our new goals. In this case, our past performance is the best indication of our future success.
Chief Executive Officer and Member of the Wynn Resorts Board of Directors