BETHESDA, Md. –Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”), the leading owner of urban and resort lifestyle hotels, today announced that it published its inaugural Environmental, Social & Governance (“ESG”) report covering the Company’s ESG performance in 2018 and its commitment to environmentally sustainable business practices and social responsibility to its employees and other stakeholders.
“As a leader in the hotel industry, we recognize the important role that our hotels and resorts serve in our environment and communities,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “We are committed to environmentally sustainable and thoughtful business practices as well as investing in our employees to cultivate a diverse, safe and inclusive work environment. In addition, Pebblebrook has strongly endorsed the American Hotel & Lodging Association’s (“AHLA”) 5-Star Promise, which is focused on the safety of our hotel employees and our guests by providing training and other resources to monitor human trafficking, harassment, employee health and safety and other important social issues.”
Pebblebrook’s ESG report is aligned with international reporting standards such as the Global Reporting Initiative (GRI) and the Global Real Estate Sustainability Benchmark (GRESB) and highlights the Company’s relentless commitment to making responsible decisions.
“Since 2016, we have invested nearly $13.0 million in environmental initiatives, on top of significant investments in our hotels dating back to 2010,” noted Raymond D. Martz, Chief Financial Officer of Pebblebrook Hotel Trust. “These investments have enabled our properties to reduce their greenhouse gas emissions while lowering our energy and water usage, which have created expense savings across our portfolio. We’re pleased that our environmentally sustainable capital investments continue to benefit both our communities and shareholders.”
Notable accomplishments from the Company’s environmental investments and other initiatives from 2016 or more recent years detailed in the ESG report include:
- 24% decrease in greenhouse gas emission intensity;
- 12% decrease in energy intensity;
- 5% reduction in water intensity per occupied room;
- 93% of properties use an environmental management system;
- 55% of properties have a Sustainability Coordinator or Green Champion;
- 44% of properties have eliminated or reduced single-use plastics;
- 58% of the Company’s employees are female;
- 33% of the Company’s independent trustees are female; and,
- 43% of the Company’s independent trustees are diverse
The Company has also formed an ESG Committee of the Company. The ESG Committee is comprised of three independent trustees, including Phillip Miller (chairperson), Cydney Donnell, and Bonny Simi. Mr. Martz, serves on the ESG Committee, reporting to the independent trustees. The ESG Committee will act as a cross-departmental link for all ESG risks, opportunities, and strategies for Pebblebrook.
