citizenM is aiming to decarbonize its operations and supply chain and achieve 100% green building certifications across its 31-hotel global portfolio.
In its 2022 ESG Report, the Amsterdam-based company has outlined how it plans to create a standard for ESG performance in the hospitality industry.
In its 120-page report, citizenM has detailed its commitments to policy and performance goals. This includes a detailed blueprint to build and operate greener, healthier hotels, increase support for communities and people and ramp up the brand’s transparency through improved reporting and disclosure practices.
According to the report, citizenM has achieved a 5-star rating for the GRESB real estate benchmark, which provides an objective and external verification of the company’s energy, waste, emissions and water usage figures.
Here are some of the highlights in 2022:
- 100% of hotels run on green electricity.
- Donating more than €1.5 million ($1.64 million) to the citizenMovement charity, which aims to reduce the distance between people and opportunities.
- Securing a €480 million ($526.65 million) sustainability-linked loan for the company’s European portfolio.
- Saving the use of 1.7 million plastic bottles through new operational policies.
- Diversion of 95% of waste away from landfills.
- 100% of hotels are LEED or BREEAM certified or undergoing the certification procedure.
- Energy, water, emissions and water data for 2019-2022 were assessed and checked by a third party.
As part of its ESG strategies, citizenM plans to construct and operate green buildings. All its hotels have already received or are in the process of becoming certified, such as BREEAM.
Some significant green building achievements were in Boston, Chicago, Washington and New York.
“As a responsible company, it’s important for citizenM to be on top of topics that impact the planet, our people and our business. This is why we steadfastly accelerated our ESG efforts. There’s still much work to be done, but our progress so far makes us confident in achieving our ambitious goals,” said citizenM CEO Laas van Lookeren Campagne.
“We know that transparency regarding climate-related data, risks and opportunities will be critical to maintaining the trust of stakeholders. We also recognize that citizenM is in a unique position as both owner and operator of our hotels, which gives us a powerful opportunity to make a difference. Talking is good, but doing is better. The planet cannot wait.”
For this year and beyond, citizenM decided upon its ESG priorities using the Materiality Matrix, a double materiality framework. The principle highlights the connection between a firm’s financial performance and its overall impact on society and the environment.
The release of the ESG report comes at a time when the company is expanding its footprint globally. The brand recently launched hotels in Paris and Miami and will be debuting in Texas, with the citizenM Austin Downtown, later this year.
citizenM is currently also working on upcoming developments in London, Dublin, Rome, Miami, Washington D.C., and Menlo Park.
Founded in 2008, the company currently has 31 hotels across 18 cities worldwide.