ESC reporting in the hospitality industry

With leading hospitality companies already setting net zero targets, tracking and reducing carbon emissions will become increasingly critical

A strong commitment to environmental, social and governance (ESG) issues can be a powerful competitive advantage for hospitality companies, especially for those that can tell a compelling story about their ongoing ESG journey.

Key takeaways

• One of the challenges with ESG reporting is that it’s a multi-stakeholder endeavor, and stakeholders may have different needs and expectations, making it important to understand key stakeholder needs and develop a strategy to appropriately address them;
• Once a company decides what ESG information to report on, and through which communication channel, it then needs to contend with the challenges of how to effectively collect, analyze and report the information;
• The identification of what’s material in ESG may be different from financial statement materiality, as the various standards and frameworks have different concepts of materiality.

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