FINANCIAL IMPACT OF ESG
$22M in EarthView savings since inception
1.7 YEAR average payback period for our efficiency investments
$2M from additional energy savings protocols implemented in 2020 and 2021
In 2021, we announced updated and more ambitious targets for reducing our environmental impact, including a net-zero target in line with a 1.5°C future. We have joined the Science Based Targets initiative and set an interim emissions reduction target for 2030 to help us get there. See our Environmental section for more information on our targets.
The pandemic’s impact on our business and physical occupancy in 2020 and 2021 was material. As business and leisure travel resumed in 2021, our consumption increased as reflected in our like-for-like metrics. We continue to progress toward our 2030 environmental targets, as seen in our overall reductions compared to a 2010 baseline.
2021 vs 2010
3% like-for-like increase per SF 2021 vs 2020
reduction per SF 2021 vs 2010
5% like-for-like increase per SF 2021 vs 2020
reduction per SF 2021 vs 2010
13% like-for-like increase per SF 2021 vs 2020
Board of Trustees and Governance Information
Size of Board at Hersha,
6 Independent Board Trustees
Dedicated Risk & Environmental, Social, & Governance (ESG) Board Subcommittee
Held in 2021
Female and Minority Board Trustees
Code of Conduct for Trustees and Executive Officers
Our 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 – are available in the Governance section of our Hersha website.
RESILIENCY & RISK
Our resiliency strategy includes the ongoing evaluation of potential climate risks, the identification of mitigation strategies, and the ongoing monitoring and assessment of our progress. In 2021, we added a dedicated board-level Risk & ESG Subcommittee, which has a formal schedule for the consideration of climate-related risks and opportunities as well as oversight of policies and operational controls of environmental, health and safety, and social risks.
NOAA FLOOD RISK SCORE
1.6 average portfolio risk,
vs. 2.8 average risk for US Lodging REITS*
(1-10, 1=low risk)
LEVEL OF NOAA FLOOD RISK
2.8% of properties by count at high risk
(as defined by NOAA), vs. an average 3% of US Lodging REITs’ properties are at high risk
*Hersha NOAA Hazard Score is collated from data by the National Oceanic Atmospheric Administration (NOAA), and peer risk score calculated from the Morgan Stanley report “Rising Flood Risk: How Much and at What Cost?” (3/2019). The NOAA Hazard Score takes into account flood risk as defined by FEMA, the Federal Emergency Management Agency.
AWARDS & RECOGNITION
Hersha has been recognized for our approach to driving positive environmental and community impact, both at a local and global scale. Highlighted are a few of our recent awards:
Global Real Estate Sustainability Benchmark Public Disclosure – Hersha ranked #1 within the U.S. Hotel peer set
NAREIT’s Leader in the Light (Lodging & Resorts sector) – Recognized four times for superior sustainability practices
Hersha recognized by Newsweek as one of America’s Most Responsible Companies
Hersha – Crain’s 2021 Best Places to Work in NYC
United Nations Sustainable Development Goals
We recognize that all of the United Nations Sustainable Development Goals (SDGs) are closely integrated and play vital roles in our communities and planet. However, similar to other leading companies, we realize that a focus on specific goals is the most effective avenue towards progress. Therefore, to further support both Hersha’s and the UN’s missions, we have prioritized eight SDGs that are closely aligned with our business:
ABOUT HERSHA HOTELS AND RESORTS
Hersha owns and operates high quality hotels in urban gateway markets and regional resort destinations. Property and room counts below reflect Hersha’s portfolio as of year-end 2021.
People Are Our Capability
Hearts That Serve
OUR SUSTAINABILITY PROGRAM: EARTHVIEW
Started in 2010
Centered on a
Leading program in