Texas Roadhouse | GHG Targets & Transition Plan

27.96% votes in favour
AGM date
Previous AGM date
Proposal number
Resolution details
Company ticker
Resolution ask
Set targets or plans
ESG theme
  • Environment
ESG sub-theme
  • GHG targets / emissions
  • Net Zero / Paris aligned
Type of vote
Shareholder proposal
Filer type
Company sector
Consumer Discretionary
Company HQ country
United States
Resolved clause
Shareholders request Texas Roadhouse issue a report, at reasonable cost and omitting proprietary information, describing if and how it plans to reduce its total GHG emissions and align its business with the Paris Agreement’s goal of limiting global temperature increases to 1.5C.
Whereas clause
The Intergovernmental Panel on Climate Change has advised that greenhouse gas (GHG) emissions must be halved by 2030 and reach net zero by 2050 to limit global warming to 1.5°C.
Every incremental increase in temperature above 1.5°C will entail increasingly severe physical and transition risks to companies, investors, and the economy. Climate change mitigation is critical to address investment risks and avert the economic losses projected if sufficient action is not taken.
The global food system contributes one third of global GHG emissions. Left unmitigated, these emissions can derail efforts to limit warming to 1.5°C. The 2018 National Climate Assessment identified rising temperatures as “the largest contributing factor to declines in the productivity of U.S. agriculture” and noted that “climate change presents numerous challenges to sustaining and enhancing crop productivity [and] livestock health.”
While Texas Roadhouse has disclosed operational emissions and committed to disclosing supply chain emissions by the end of 2024, the Company has failed to mitigate climate-related financial risks by disclosing a comprehensive strategy to reduce its total contribution to climate change. Food service peers—including Chipotle, McDonald’s, and Yum! Brands—are addressing a broad set of climate-related financial risks by setting and implementing 1.5°C-aligned science-based targets inclusive of their full value chains.
By failing to proactively manage value chain emissions, Texas Roadhouse is contributing to incremental increases in global temperature rise above 1.5°C, which will impact the Company’s access to critical commodities, procurement and production costs, and long-term resilience to transition risks associated with new regulation and global decarbonization.
Supporting statement
Shareholders recommend the report disclose, at board and management discretion:
• Paris-aligned short-, medium-, and long-term emissions reduction targets for the Company’s full GHG footprint, taking into consideration approaches used by advisory groups like the Science-Based Targets Initiative; and
• a transition plan detailing how the Company intends to achieve such targets, including strategies for mitigating physical and transition climate risks, taking into consideration criteria used by advisory groups such as the Task Force on Climate-related Financial Disclosures, CDP, Transition Plan Taskforce, and the We Mean Business Coalition.

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
KBI Global Investors For We are voting for this resolution as shareholders would benefit from additional disclosure on its efforts to reduce greenhouse gas emissions.

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