ATLANTA, Georgia—The Asian American Lodge Homeowners Affiliation (AAHOA) and the Power & Setting Alliance (EEA) introduced a partnership to assist set up unified sustainability requirements, benchmarks, and efficiency metrics tailor-made to the accommodations and lodging sector. AAHOA’s 20,000 members personal 60 p.c of the accommodations in america; the EEA’s membership represents round 45,000 hospitality property globally.
As investor demand grows for clear, dependable, and comparable sustainability disclosures, the companions will contribute to the work of the Particular Taskforce on Sustainability Requirements for the Lodges and Lodging Sector. The duty power goals to align the hospitality trade with globally acknowledged requirements, together with these set by the Worldwide Accounting Requirements Board, Worldwide Monetary Reporting Requirements, and the Worldwide Sustainability Requirements Board. These frameworks, already adopted by greater than 30 international locations, present a typical language for investment-grade sustainability info, enabling interoperability with rules just like the European Union’s Company Sustainability Reporting Directive.
The partnership’s mission is to make sure hoteliers worldwide have a voice within the creation of sustainability requirements which might be each rigorous and sensible.
A Three-Part Session Course of
The session course of to develop these requirements will happen in three structured phases:
- Pre-Session (January 2025-June 2025): World outreach to boost consciousness and collect preliminary suggestions by way of conferences, roundtables, and focused discussions. This part will determine points and form the session’s scope.
- Session (June 2025-September 2025): A 90-day session the place stakeholders can present suggestions by way of a web based platform. The method might be supported by promotion by way of commerce media, social channels, and world conferences.
- Publish-Session (December 2025): Evaluation of submissions, growth of conclusions, and presentation of outcomes to trade leaders and regulators.
Ufi Ibrahim, CEO of the EEA, mentioned, “The world has modified. Sustainability dangers and alternatives now instantly influence liquidity, asset values, the price of capital, and funding choices. In lots of jurisdictions, sustainable practices have gotten authorized mandates. But, the shortage of harmonized requirements and dependable benchmarks is problematic. By main the event of strong and broadly supported requirements, the hospitality trade can keep away from doubtlessly counterproductive regulatory impositions. It’s encouraging to see alignment between regulators and trade leaders on this proactive strategy.”
AAHOA President and CEO Laura Lee Blake mentioned, “This partnership between AAHOA and EEA marks a transformative step for the hospitality trade. By championing the creation of clear and actionable sustainability requirements, we’re equipping lodge homeowners to fulfill evolving world calls for whereas strengthening their aggressive edge. This initiative isn’t solely a pledge to environmental duty but in addition a strategic effort to reinforce asset worth and construct investor belief in our trade’s future.”
AAHOA Chairman Miraj S. Patel mentioned, “AAHOA Members have all the time been leaders in shaping the way forward for the hospitality trade, and this partnership with the Power & Setting Alliance highlights our dedication to advancing sustainable practices. By making certain lodge homeowners have a voice in establishing sensible and globally acknowledged sustainability requirements, we’re positioning our trade to thrive whereas assembly the challenges of a quickly altering world. It is a essential step towards a extra resilient and environmentally accountable hospitality sector.”
