Summit takeaways from Sean Worker – The AdaptersGreenX:
- ESG reporting and disclosure will require the same levels of scrutiny as financial reporting. ISSB changes coming as early as June this year.
- Data/Benchmarking and Standards: start now, collect and leverage data to inform your ESG pathway.
- Collaborate and Partner –Connect with those that know. Follow the knowledge trail, from regulators, investors, innovators, academics, lawyers, to politicians and more. Learn, adapt, and incorporate the concepts that apply to your business.
- Why throw away value? Keenly understand the fundamental difference between linear and circular business models. “Value Hills” under both systems have fundamentally different outcomes. NOTE: Unpack E-S-G. The elements are interdependent and require a bespoke approach to each pillar.
- Opportunities abound. Two key regulatory drivers that offer the hospitality industry vast opportunities to shape policy are the Built Environment (buildings, new and potentially brown/stranded assets) and Diets (food and health).
- No judgement: It’s not about judgement to get to a “Net Good”. Remove “Net Negative” externalities. Let’s “Learn and Unlearn together”
- Leadership. Four Factors to considera) Intention b) Ambition c) Decision Making d) Be honest (truthful). Source and use evolving data as the basis of your action. Consider a paradigm shift to a “Mindprint” framework where Cost vs Value is a key filter. (Refer to Metabolic Amsterdam case study).
Here are a few links to ESG tools discussed at the Summit:
- To access the EEA and Addleshaw Goddard Sustainable Hotel Construction report launched at the Summit click here.
- You can access the ESG Regulatory Timeline developed for the EEA by Travers Smith here.
- To have your say on ESG and Hotel Management Agreements, please complete the survey which you can access here.
- To support our Summit charity Room to Reward please click here.