BETHESDA, Md.--(BUSINESS WIRE)--Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it published its third annual Environmental Sustainability and Social Responsibility Report covering the Company’s Environmental, Social, and Governance (“ESG”) performance in 2020 and its commitment to environmentally sustainable business practices and social responsibility to its employees and other stakeholders.
“While 2020 was undoubtedly the most challenging year our industry has ever faced, we continued to make progress with our environmental, social, and governance programs,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “As the leading owner of urban and resort lifestyle hotels in the United States, we are committed to reducing our environmental footprint and fostering inclusive growth throughout our company, our portfolio and beyond. In 2020, we made great strides in implementing new initiatives, such as establishing our Racial Equity & Inclusion Team. We also launched Hotel Zena Washington DC to create a safe gathering place to celebrate diversity and women’s empowerment. Despite the challenges of the COVID-19 pandemic, we look forward to continuing our sustainability efforts and thoughtful business practices in the years to come.”
Pebblebrook’s 2021 Environmental Sustainability and Social Responsibility Report is aligned with international reporting standards such as the Global Reporting Initiative (“GRI”), includes disclosures from the Sustainability Accounting Standards Board (“SASB”), and for the first time, reflects Pebblebrook’s commitment to understanding and planning for sustainability risks through the Task Force on Climate-Related Financial Disclosure (“TCFD”). Pebblebrook also committed to the CEO Action for Diversity and Inclusion and pledged to support inclusive and diverse workplaces.
“This past year, we’ve taken actionable steps to strengthen the support our communities,” said Raymond D. Martz, Chief Financial Officer of Pebblebrook Hotel Trust. “While we limited our participation in community and volunteer activities in 2020 due to the pandemic, our property team members made a difference by providing food and donations to neighborhood organizations. We recognize how profound the hospitality industry’s environmental and social impact is on the communities we live and work in, and for that reason, and many others, we remain committed to implementing and expanding upon our ESG program.”
Notable accomplishments from the Company’s environmental investments and other initiatives detailed in the 2021 Environmental Sustainability and Social Responsibility report include:
Environmental Sustainability
- 50% decrease in greenhouse gas emission intensity per square foot
- 39% decrease in energy intensity per square foot
- 26% decrease in waste intensity per occupied room
Social Responsibility
- 67% of the Company’s employees are female
- 42% of properties have eliminated or reduced to an absolute minimum, single-use plastics
Governance
- 43% of the Company’s independent trustees are diverse
- 33% of the Company’s independent trustees are female
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 52 hotels, totaling approximately 13,000 guest rooms across 15 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.
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