Outlines Cedar Fair’s Environmental, Social and Governance framework and key strategic pillars
Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, has published its first Environmental, Social and Governance (ESG) strategy report. Titled “Better FUN Builds a Better World: Our Blueprint for Action,” the report outlines Cedar Fair’s ESG framework and five key strategic pillars. The report is available to download on the company’s investor relations website: https://ir.cedarfair.com.
“Cedar Fair is proud of our legacy of doing what is right for our associates, our guests and our communities,” said Richard A. Zimmerman, Cedar Fair’s president and chief executive officer. “Our inaugural ESG strategy report represents a significant milestone in our ongoing ESG journey. This ‘Blueprint for Action’ allows us to provide transparent updates on our approach to social and environmental responsibility and our initiatives to create a safer, more sustainable, and more equitable Cedar Fair. In collaboration with more than 100 associates across the company, we established an enterprise-wide framework that will guide our efforts and help us achieve our ESG goals. We look forward to sharing our progress as we build a better world for the millions of people we serve across North America.”
The inaugural report formalizes Cedar Fair’s public reporting process on its ESG strategy and progress on its key priorities. Going forward, the company plans to share data and metrics on its website and in its annual ESG reports using internationally accepted reporting guidelines, such as the indicators identified by the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI).
Highlights from the report include:
- An overview of “The Soul of Cedar Fair,” the company’s Vision, Mission, Purpose, Brand Essence, and Values statements. This includes a description of the inclusive process – ultimately engaging more than 100 associates from across the organization – used to create and define The Soul of Cedar Fair.
- The five key pillars of Cedar Fair’s ESG strategy: Safety, Associate Happiness, Community, Environment, and Operations & Governance. Each pillar consists of aspirational goals, strategies to achieve those goals, and implementation plans for 2023 and beyond.
- A summary of Cedar Fair’s ESG governance model, with oversight by the Nominating and Governance Committee of the Board of Directors, the CEO and ESG Executive Committee and dedicated day-to-day leadership of the “Better FUN Builds a Better World” implementation strategy.
- A commitment to issue future public ESG reports in line with internationally accepted reporting guidelines, such as the SASB Sector Standards for Leisure Facilities, Restaurants and Hospitality industries.
About Cedar Fair
Cedar Fair Entertainment Company (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive, and memorable experiences, the Company owns and operates 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair’s parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario.
Some of the statements contained in this news release that are not historical in nature constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements as to the Company's expectations, beliefs, goals, and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct, including the timing of any debt paydown or payment of partnership distributions, or that the Company's growth strategies will achieve the targeted results. Important factors, including the impacts of the COVID-19 pandemic, general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays, changes in the Company’s capital investment plans and projects and other factors discussed from time to time by the Company in its reports filed with the Securities and Exchange Commission (the “SEC”) could affect attendance at the Company’s parks, as well as the timing of any debt paydown or payment of partnership distributions, and the Company's growth strategies, and cause actual results to differ materially from the Company's expectations or otherwise to fluctuate or decrease. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company's Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether a result of new information, future events, information, circumstances or otherwise that arise after the publication of this document.
This news release and prior releases are available under the News tab at http://ir.cedarfair.com
Investor Contact: Michael Russell, 419.627.2233
Media Contact: Gary Rhodes, 704.249.6119