MARRIOTT INTERNATIONAL CELEBRATES MILESTONE ON JOURNEY TOWARDS NET-ZERO
Marriott International, Inc. (Nasdaq: MAR) has verified its near and long-term science-based emissions reduction targets with the Science Based Targets initiative (SBTi). |
|
MARRIOTT INTERNATIONAL CELEBRATES MILESTONE ON JOURNEY TOWARDS NET-ZERO
Marriott International, Inc. (Nasdaq: MAR) has verified its near and long-term science-based emissions reduction targets with the Science Based Targets initiative (SBTi). |
Category: Worldwide - Industry economy
- Sustainability
This is a press release selected by our editorial committee and published online for free on 2024-04-23
SBTi is a global climate action organization that develops tools that allow businesses to set greenhouse gas (GHG) emissions reduction targets in line with data-driven methodology.
Marriott is the largest global hospitality company to receive approval for both near-term and long-term science-based targets.
The company has committed to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year.
Marriott also commits to reduce absolute scope 3 GHG emissions from fuel and energy-related activities, waste generated in operations, employee commuting, and franchises 27.5% by 2030 from a 2019 base year, and that 22% of its suppliers by emissions covering purchased goods and services, capital goods, and upstream transportation and distribution will have science-based targets by 2028.
Marriott commits to reach net-zero greenhouse gas emissions across the value chain by 2050, reducing absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year and reduce absolute scope 3 GHG emissions 90% by 2050 from a 2019 base year.
The target boundary includes land-related emissions and removals from bioenergy feedstocks.
“For nearly a century, Marriott has been committed to our core value of serving our world as we strive to be a force for good wherever we do business,” said Anthony Capuano, President and CEO, Marriott International.
“The impact of climate change is being seen and felt across the globe. As we continue to connect people through the power of travel, we are committed to driving meaningful improvements to the environment and are energized by reaching this significant milestone. The approval of our near-term and long-term targets is the result of the hard work and dedication of Marriott’s teams around the world who are committed to our climate action journey and creating the future of sustainable hospitality.”
“Marriott has been on a journey to reduce greenhouse gas emissions in our operations and supply chain. We believe it’s good business and good for the planet,” said Erika Alexander, Chief Global Operations Officer, Marriott International.
“The decarbonization of the global electrical grid is a vital component of reducing GHG emissions. We are united with other leading companies in elevating efforts to help address the effects of climate change and hold ourselves accountable as we embed sustainability throughout our operations.”
To reach its net-zero target, Marriott is focusing its efforts in three distinct areas: energy reduction, sourcing more energy from renewables, and purchasing goods with lower carbon footprints across its portfolio of over 8,800 properties in 139 countries and territories.
The company’s recent sustainability highlights include:
- Launching the Climate Action Program (CAP), the company’s approach to charting a growth-focused future through building climate fluency, addressing climate risk, and reducing greenhouse gas emissions across the organization.
- Delivering property-specific carbon and energy reduction targets to every managed and franchised hotel globally.
- Enhancing the Marriott Environment Sustainability Hub (MESH), a global platform for properties to log monthly power, water, and waste metrics. With these enhancements, properties can now easily access customized, property-specific information for reducing energy and carbon.
- Introducing the Energy Optimization Program to help properties manage rising energy costs. The program assists properties in conducting an energy audit to identify ways to become more energy efficient.
- Engaging with suppliers as they work to understand and reduce their emissions.
- Sharing sustainability information, including individual hotel carbon footprint data, on Marriott.com.
Marriott’s sustainability strategy is focused on a wide range of tactics including designing resource-efficient hotels, implementing technologies to track and reduce energy and water consumption, as well as waste and food waste, increasing the use of renewable energy, managing water-related risks, focusing on third-party sustainability certifications at the hotel-level, supporting innovative ecosystem restoration initiatives, implementing and responsible and local sourcing.
In support of the United Nations Sustainable Development Goals (SDGs), Marriott created its sustainability and social impact platform, Serve 360: Doing Good in Every Direction, which guides the company’s efforts to make a positive and sustainable impact on the world’s most pressing social, environmental, and economic issues wherever it does business.
More details about Serve 360 can be found at Marriott.com/Serve360.
About Marriott International, Inc.
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,800 properties across more than 30 leading brands in 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy, its highly awarded travel program.
|
|
