environmental social and governance
Environmental, Social Initiatives Lead to Greater Returns in High-Income Nations
PENN STATE SCHOOL OF HOSPITALITY MANAGEMENT | July 30, 2024
Hospitality firms participating in environmental, social and governance practices in high-income nations can generate increased return on assets UNIVERSITY PARK, Pa. — Global sustainability initiatives like the environmental, social and governance (ESG) investing principle may lead to greater financial gains for hospitality firms in high-income countries but not in low-income nations, according to new findings from researchers in the Penn State School of Hospitality Management. Penn State doctoral student Samantha Hwang and Professor of Hospitality Management Seoki Lee led a research team that assessed how implementing practice...
Why Is ESG Important? Navigating Challenges, Embracing Sustainability
Stefan Güldenberg | January 9, 2024
By Stefan Güldenberg Environmental, social, and governance (ESG) issues are increasingly prominent in the decision-making processes of investors, consumers, and employees. With societal and environmental issues at the top of the global agenda, the ESG movement has surged in popularity and more people than ever before are considering the wider implications of their choices. However, the rise of ESG issues in the minds of investors and consumers has not been unchallenged. Last year, the backlash against ESG reached fever pitch when Tesla was removed from the S&P 500 ESG Index. It was cut from the indices over concerns about employer...
How Hotel Owners, Operators Are Syncing Up on ESG Goals
JLL | September 6, 2023
Green agreements are helping owners and operators align on sustainability goals Hotel operators and investors are increasingly collaborating to accomplish shared green goals, a sign of growing interest in meeting environmental, social, and governance (ESG) commitments. Take luxury resort group Six Senses and its parent company InterContinental Hotels Group. Each Six Senses property embeds sustainability commitments, such as the adoption of green building standards, the allocation of funds toward local community and environmental initiatives, and even the appointment of in-house sustainability professionals. “ESG is quickly gaining si...
Marriott International Publishes Latest Report on Environmental, Social, and Governance Progress
Marriott International | October 31, 2022
Marriott International, Inc., today released its 2022 Serve 360 Report presenting data from 2021 and demonstrating its Environmental, Social, and Governance (ESG) efforts toward the company’s 2025 Sustainability and Social Impact Goals. The Report can be accessed on the Serve 360 website. In support of the United Nations Sustainable Development Goals (SDGs), Marriott’s sustainability and social impact platform, Serve 360: Doing Good in Every Direction, guides the company's commitment to make a positive and sustainable impact wherever it does business, delivering value for associates, customers, owners, the environment, and communitie...
Placemaking – Property-Level Approach to ESG
Gregg Rockett | February 16, 2022
By Gregg Rockett, Yoon Koh ESG: The Paradigm Shift ESG—environmental, social, and governance—has gained significant attention over the years and has become the norm that firms strive to meet society’s expectation or exceed the standards for the three areas. Various stakeholders evaluate firms from the ESG point of view including major institutional investors, activists and customers. Stock markets such as Hong Kong Stock Exchange and international organizations such as Global Reporting Initiative and Dow Jones Sustainability Index set the expectations on firms for all three areas of stakeholder engagement, materiality a...
How Addressing ESG Can Also Save Hotels Money
October 7, 2021
Recent weather disasters, social unrest and a heightened awareness of racial bias have prompted hoteliers to double down on their commitments to become better corporate citizens and do more to address environmental, social and governance (ESG) issues. These are moves toward a social good, sure, but also have ramifications on hotel company P&Ls. Marriott International, for one. It recently announced a commitment to reach net-zero emissions of greenhouse gases by 2050. The pledge follows the previous setting of goals by the massive global company to reduce single-use plastics, cut down on food waste by 50% and significantly amp up the...
