MINOR HOTELS EUROPE & AMERICAS RECEIVES SBTI VALIDATION FOR UPDATED DECARBONISATION TARGETS
New 2030 emissions target to prevent release of more than 145,000 tonnes of CO2 equivalent. |
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MINOR HOTELS EUROPE & AMERICAS RECEIVES SBTI VALIDATION FOR UPDATED DECARBONISATION TARGETS
New 2030 emissions target to prevent release of more than 145,000 tonnes of CO2 equivalent. |
Category: Worldwide - Industry economy
- Sustainability
This is a press release selected by our editorial committee and published online for free on 2024-07-12
Group pledges 90% reduction in total greenhouse gas emissions, and net zero emissions along its value chain, in new 2050 goal.
SBTi validation of both targets sets company in line with Paris Agreement goals.
Minor Hotels Europe & Americas has achieved a significant milestone with the validation of its 2050 net zero target by the Science Based Targets initiative (SBTi).
The group has also significantly revised its 2030 goals, setting more ambitious emissions reduction targets that are set to prevent the release of more than 145,000 tonnes of CO2 equivalent.
The validation of both these targets underscores the company’s commitment to forceful climate action, and places it in line with Minor Hotels' global sustainability goals.
The international hotel owner and operator, under the banner of its parent company Minor International, is making substantial progress towards SBTi validation across its global 2030 and 2050 targets, including a similar pledge to achieve net zero emissions by mid-century.
SBTi is the global standard setter for science-backed decarbonisation targets. Its validation is a mark of credibility and commitment, ensuring companies not only set but also achieve significant sustainability milestones in line with the goals of the Paris Agreement.
Updated Targets for 2030 and 2050
In newly revised 2030 targets, Minor Hotels Europe & Americas aims to reduce its absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 46.2% compared to 2019 levels.
The company has also set a target to reduce by 27.5% its Scope 3 emissions, encompassing purchased goods and services, capital goods, fuel and energy-related activities, waste from operations, upstream leased assets, and franchises.
The more ambitious 2030 reduction target expands on the group's prior commitment, set in 2018, of reducing total GHG emissions by at least 20%, and will prevent the emission of 146,803 tonnes of carbon dioxide equivalent.
Looking ahead to 2050, Minor Hotels Europe & Americas has committed to reducing its absolute Scope 1, 2, and 3 GHG emissions by 90%, compared with its 2019 baseline, as well as achieving net zero emissions along its entire value chain.
Both of these targets have been scientifically validated and approved by SBTi, emphasising the company’s adherence to the stringent criteria necessary for reducing GHG emissions and contributing to the fight against climate change.
The new targets also align Minor Hotels Europe & Americas with the scientific thresholds recommended for businesses in the Paris Agreement to limit global warming to 1.5 degrees Celsius above pre-industrial levels.
To achieve these targets, the company has created a special cross-cutting taskforce, SBT 2030, which is being coordinated by the organisation’s Sustainable Business Department and involves all key areas with the aim of attaining end-to-end decarbonisation.
Elena Ruiz, Director of Sustainability at Minor Hotels Europe & Americas, said, “Aligning our regional targets with Minor International's global objectives allows us to take a unified approach in addressing climate change, a strategic priority for all companies and one a hotel group of our calibre must be aiming for. Our commitment is embodied in UP for Planet & People, our corporate strategic plan for guaranteeing a sustainable business model. The fact that our new targets have been validated by SBTi is a significant milestone and brings us closer to achieving this shared goal of net zero that bit sooner”.
Recognition and Ongoing Efforts
Minor Hotels Europe & Americas continues to be recognised for its sustainability initiatives, retaining fourth position for hotels, resorts and cruise lines in the latest S&P Global Sustainability Yearbook, and has been included in the FTSE4GOOD index every year since 2013.
The company has also maintained its inclusion in the Bloomberg Gender Equality Index and the CDP’s Supplier Engagement Rating Leaderboard.
Through its UP for Planet initiative, Minor Hotels is actively contributing to the United Nations Sustainable Development Goals by implementing measures to reduce emissions, optimise energy and water consumption, and promote resource efficiency following the 4Rs approach (reduce, reuse, recycle, replace).
More than half (53%) of the Minor's Europe & Americas hotel portfolio holds sustainability certifications, with 66% of its electricity consumption derived from renewable sources, a figure that reaches 100% in Southern Europe.
The company is further enhancing its sustainability footprint by offering bicycle rental services at 99 hotels, electric vehicle chargers at 72 properties, and sourcing 90% of its purchases from local and certified suppliers.
About Minor Hotels
Minor Hotels is a global hospitality group operating over 550 hotels, resorts and residences in 56 countries, pursuing its vision of crafting a more passionate and interconnected world. As a hotel owner, operator and investor, Minor Hotels fulfils the needs and desires of today’s global travellers through its diverse portfolio of eight hotel brands – Anantara, Avani, Elewana, NH, NH Collection, nhow, Oaks and Tivoli – and a collection of related businesses. Minor Hotels is rapidly accelerating its global growth ambitions, aiming to add more than 200 hotels by the end of 2026.
Minor Hotels is a proud member of the Global Hotel Alliance (GHA), the world's largest alliance of independent hotel brands, and participates in the GHA DISCOVERY loyalty programme.
 Tivoli La Caleta Tenerife Resort-Exterior View
Photo credit © Minor Hotels
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