ESG Performance, Scoring Methodologies and Reporting - Preparing for disclosures - June 28th
During the 3rd special session of the GRI Sustainable Hospitality Global Committee, members of GRI Club discussed ESG performance, scoring methodologies and reporting.
Adrian Flueck (Director of Hotel Asset Management at Invesco Real Estate) and Alex Edds (Head Of Sustainability, Europe, at LaSalle Investment Management) moderated the virtual session. Industry experts from Longevity Partners and Deepki presented key ESG performance frameworks to a panel attended by world-class owners, developers, investors, and asset managers from 20+ countries.
Important Takeaways:
Adrian Flueck (Director of Hotel Asset Management at Invesco Real Estate) and Alex Edds (Head Of Sustainability, Europe, at LaSalle Investment Management) moderated the virtual session. Industry experts from Longevity Partners and Deepki presented key ESG performance frameworks to a panel attended by world-class owners, developers, investors, and asset managers from 20+ countries.
Important Takeaways:
- Most hotels already have internal tracking systems, but a clear standardization of ESG scoring methodologies is yet to come;
- Some suppliers are stepping back in providing data;
- Other than the investors, the biggest consumers of the ESG ratings might be the companies themselves to benchmark and improve their performance;
- Benchmark: GRESB, UNPRI, and TCFD are exemplary organizations that help better judge a company's performance when compared to their peers;
- Regulatory Compliance Reporting: “Non-Financial Reporting Directive” and “Sustainable Finance Disclosure Regulation” are two regulations that are coming into force around sustainable finance disclosure in the EU;
- The numerous types of data can be approached as internal data (or qualitative data), collected at the asset level, and external data (quantitative data), from benchmarks and external references