Earlier this week I received a note from Jay H. Shah, CEO of Hersha Hotels and Resorts, regarding the company’s 2021 EarthView Sustainability Report. Hersha Hotels and Resorts, a REIT, unveiled EarthView in 2010. “The EarthView program is an adaptive, science-based, holistic approach to sustainable hospitality that aligns innovative practices with Hersha’s core values,” Shah says. I reviewed the report and found the following highlights:
- Hersha has committed to achieving net-zero Scope 1 and 2 GHG emissions across all operations by 2050, with an interim reduction target set for 2030.
- Hersha became a signatory of the CEO Action for Diversity & Inclusion pledge to advance diversity and inclusion in the workplace.
- Through its EarthView Water program, Hersha completed funding for the construction of a second Hersha well in Tanzania which will bring clean water to 6,200 people in dire need, expanding its global clean water impact to over 32,200 people.
- In 2021, the Board added a Risk & ESG Subcommittee to increase oversight of ESG-related risks and opportunities.
- Hersha ranked No. 1 in GRESB’s public disclosure among U.S. hotel REITs in 2021 for the second consecutive year.
- From 2010 through 2021, Hersha reduced carbon emissions by 51 percent, energy consumption by 21 percent, and water consumption by 17 percent. The company’s waste diversion rate in 2021 was 33 percent.
- Forty-two percent of women at Hersha hold roles of Director or above.
- Since 2011 Hersha has sent 583,000 new bars of sanitized and repackaged soap to developing nations.
- Hersha has prioritized eight of the 17 United Nations Sustainable Development Goals: Good Health & Well-being, Quality Education, Clean Water and Sanitation, Affordable and Clean Energy, Sustainable Cities & Communities, Responsible Consumption and Production, Climate Action, and Partnerships for the Goals.
To put things in perspective, Hersha currently owns 36 hotels (5,802 rooms) in the United States.
