Increasing investor appetite for climate-friendly hotel sector…
We increasingly hear about ESG standards and here is how it is playing out in the hotel industry:
- “Giant asset managers like BlackRock, State Street, and Vanguard are developing products tied to ESG [environmental, social, and governance] standards,” Samuelrich said. “They’re figuring out that one of the ways to sell those products is to get attention by doing shareholder engagement. That means they’re more often voting their proxies for climate issues, which is a change for them.
- “Last year, we had about $103 billion issuance in sustainability-linked bonds. Year before that, it was about $12 billion. The year before that, the bonds almost didn’t exist.”
- “Booking.com has begun assigning a sustainability rating to hotels,” Perez-Alvarado said. “That may shift demand, especially among millennials in Europe traveling worldwide, and affect portfolios that are laggards.”
Read the full article “Investors Prod Hotel Leaders on Climate Promises” by Sean O’Neill, swift.com