Hersha Hospitality Trust
Climate Impact & Sustainability Data (2017, 2019)
Reporting Period: 2017
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:10% (one hotel with solar PV)
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- Reduced greenhouse gas emissions per occupied room by 25% versus 2010 baseline
- Reduced energy consumption per occupied room by 21% versus 2010 baseline
- Reduced water consumption per occupied room by 45% versus 2010 baseline
- Reduced waste sent to landfills by 45% versus 2010 baseline
- Installed on-site solar photovoltaic system at one hotel
Social Achievements
- 14,200 hours volunteered in local communities since 2015
- 487,000 bars of soap sent to developing nations since 2011
- $320,000 raised for autism awareness since 2015
- Provided clean water for 3,600 people for 21 years through EarthView water
- 850 books donated to local schools in 2017
- Annual Hersha Day of Service with over 200 volunteers
Governance Achievements
- Ranked in the top 4% of approximately 820 participants in the Global Real Estate Sustainability Benchmark (GRESB)
- Received the “Leader in the Light” award from NAREIT
- Elected an independent director to the Board of Trustees
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Major hurricanes in Houston and South Florida
- Wildfires and mudslides along the California coast
Mitigation Strategies
- Team mobilized to help with rescue and revitalization efforts
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Converting to recycled materials
- Reducing unnecessary disposable products
- Using bio-based products
- Energy and water efficient purchasing policy
Climate-Related Risks & Opportunities
Physical Risks
- Hurricanes
- Wildfires
Transition Risks
- Resource shortages
- Price volatility
- Evolving regulations
Opportunities
- Increased energy efficiency
- Renewable energy opportunities
Reporting Standards
Frameworks Used: GRESB
Certifications: LEED Silver (Hilton Garden Inn M Street, Washington, DC), LEED Certified (Cadillac Hotel & Beach Club)
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- EarthView water bottle
Awards & Recognition
- Leader in the Light award from NAREIT
- Top 4% ranking in GRESB
Reporting Period: 2019
Environmental Metrics
Total Carbon Emissions:32,853 mT
Scope 1 Emissions:9,969 mT
Scope 2 Emissions:22,884 mT
Renewable Energy Share:0.2%
Total Energy Consumption:414,463 mBTU
Water Consumption:265,798 kgal
Waste Generated:6,775 tons
ESG Focus Areas
- Environmental
- Social
- Governance
Environmental Achievements
- 45% reduction in emissions per square foot vs. 2010
- 15% reduction in energy consumption per square foot vs. 2010
- 5% reduction in water usage per square foot vs. 2010
- 30% waste diversion rate in 2019
Social Achievements
- 19,779 hours volunteered in local communities since 2015
- $596,000 raised for autism awareness since 2015
- Provided access to clean water for 25,000+ people for 21 years through EarthView Water
- 561,000 new bars of sanitized and repackaged soap sent to developing nations since 2011
- 300 unique non-profits assisted since 2017
- 14% of associates were promoted in 2019
Governance Achievements
- Comprehensive Code of Ethics and Code of Conduct including policies on human rights, labor rights, diversity, anti-harassment, formal grievance process, whistleblowers, non-retaliation, health & safety, and supplier code of conduct
Climate Goals & Targets
Medium-term Goals:
- Reduce portfolio-wide emissions by 60% by 2030
- Reduce energy consumption by 35% by 2030
- Reduce water usage by 30% by 2030
- Increase waste diversion rate to 50% by 2030
Environmental Challenges
- Physical risks associated with increasing intensity and frequency of extreme weather events, damage to ecosystems, and changing climate patterns leading to sea level rise, heat stress, and water stress.
- Transition risks including rising stakeholder and shareholder concern around sustainability, increasing prevalence of climate-related policy and regulation, and technological advances and fundamental shifts in market demand.
Mitigation Strategies
- Emergency response and life safety plans
- Business continuity plans
- Emergency evacuation plans, procedures, and drills
- Backup power generation, emergency lighting, and fire pumps
- Temporary flood barriers
- Energy- and water-efficiency projects to reduce overall reliance on utilities
- Sourcing food locally
Supply Chain Management
Responsible Procurement
- Sourcing local products
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
- Sea level rise
- Heat stress
- Water stress
Transition Risks
- Rising stakeholder and shareholder concern around sustainability
- Climate-related policy and regulation
- Technological advances and market shifts
Opportunities
- Reductions in operating expenses due to improvements in resource efficiency and added resiliency measures
- Minimization of business interruption during climate shocks
- Improved reputation
- Competitive advantages from stakeholder preferences towards sustainability
Reporting Standards
Frameworks Used: SASB (Real Estate Sector), TCFD
Third-party Assurance: LRQA
UN Sustainable Development Goals
- SDG 6
- SDG 7
- SDG 12
- SDG 13
- SDG 3
- SDG 4
- SDG 17
Sustainable Products & Innovation
- EarthView Water
Awards & Recognition
- Global Real Estate Sustainability Benchmark (GRESB) Green Star recognition
- NAREIT’s Leader in the Light (Lodging & Resorts sector)
- America’s Most Responsible Companies 2020 by Newsweek