JLL works with EEA to set and drive ESG reporting standards in the hotel and hospitality industry

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Jones Lang LaSalle Incorporated (NYSE: JLL) has partnered with the Energy and Environment Alliance (EEA) — an international non-profit coalition driving carbon reductions across the hospitality industry — to chair its new Capital Markets Committee by Rekha Toora, JLL’s Senior Vice President of Hotels Capital Markets (EMEA).

The EEA Capital Markets Committee will bring together hospitality industry leaders from around the world to promote informed discussion and action on how the sector is tackling ESG from an investment and wealth management perspective.

Rekha Toora, Senior Vice President of Hotels Capital Markets (EMEA) at JLL, stated, “The ever-changing regulatory landscape poses challenges for the sector to achieve net-zero carbon targets. Investors and funds need a robust set of consistent international standards against which to demonstrate their ESG credentials and a solid platform for informed discussion and knowledge sharing to encourage sustainable investments in hotels.

“The hotel is still in its infancy on its sustainability journey compared to some other sectors, but this needs to change and has started to change. We need a clear and transparent investment process and reporting standards for the industry.”

The work of the Capital Markets Committee includes:

  • Bringing together industry leaders to share knowledge on how hospitality is addressing ESG from an investment and wealth management perspective and across different capital pools;
  • promoting the growth of sustainable investment and financing in the hospitality sector;
  • Development of standardized investment KPIs that help encourage benchmarking using common metrics;
  • facilitating the change in investment committee processes to reflect the evolving regulatory and investment landscape;
  • collecting data to assess the impact on the operational performance of assets that have implemented sustainability measures;
  • Understanding and promoting standards for assessing the valuation impact of Net Zero initiatives;
  • Monitoring the changing regulatory landscape and how this is affecting investment appetite.

Ufi Ibrahim, CEO and Founder of EEA, continued, “JLL has already proven to be a pioneer in ensuring the integration of ESG criteria into asset valuations, so Rekha was our immediate and natural choice for the Capital Markets chair.

“Her proven passion for the subject, combined with her personal seriousness and connections within the hospitality industry, will really help advance the work of the Alliance and encourage more high-calibre industry professionals to get involved.”

JLL has a track record of setting industry standards for carbon reporting including ULI Greenprint, GRESB, ESPR and GRI.

JLL’s own path to net zero includes a commitment to achieve net zero carbon emissions in all JLL offices by 2030. The company has also measured and reduced CO2 for over 5,000 client properties across 20 asset classes in over 50 countries.

JLL has further underlined its own sustainability claim with significant investments in its own infrastructure. On 1 January 2021, Guy Grainger became JLL’s first Global Head of Sustainability Services & ESG and this C-suite commitment to expanding JLL’s significant capability in delivering sustainability services is supported by the target to have 500 new sustainability-focused employees by 2023 hire and train.

About Energy and Environment Alliance (EEA)

The Energy & Environment Alliance (EEA) is a non-profit coalition of hospitality leaders whose mission is to:

  • Adopt the first universal, science-based standards and metrics for sustainable design, construction, and management of hotels and other hospitality facilities
  • Access green finance, initiate sustainability-backed lending and improve asset values
  • Obtain energy cheaply and carbon-free
  • Negate climate-related risks and lead on environmental, social and governance (ESG) practices
  • ESG-safe legal agreements, corporate disclosures and governance statements
  • Engage local authorities, governments and international institutions to ensure effective and fair legislation
  • Radiate innovation, know-how and best practice

About JLL

JLL (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. JLL is shaping the future of real estate for a better world, using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our employees and our communities. JLL is a Fortune 500 company with annual sales of $19.4 billion, offices in more than 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name and a registered trademark of Jones Lang LaSalle Incorporated. Visit jll.com for more information. Visit jll.com for more information.

Kate Martin
+447513 708336
JLL

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