Regulation

CitizenM given five star rating in GRESB assessment

GRESB, formally known as the Global Real Estate Sustainability Benchmark, is a ‘mission-driven, investor-led’ organisation that has standardised ESG data

CitizenM has received the highest available rating of five stars in the 2021 GRESB Real Estate Assessment, which has recognised the group’s ESG transparency and improved performance in the area.

GRESB, formally known as the Global Real Estate Sustainability Benchmark, is a “mission-driven, investor-led” organisation that has standardised ESG data. 

Since 2008, it has been a global benchmark for real estate and infrastructure, and has covered more than 96,000 assets and 540 infrastructure portfolios. Over 100 investors are said to use its data to “steer the industry towards a more sustainable future”. 

Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, and assessments are guided by “what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations”. 

The latest award reportedly demonstrates CitizenM’s commitment to its wider ESG strategy. The hotel group said it has “been on a mission to bring affordable luxury, green buildings and a conscious approach to travel in the world’s most exciting cities” since opening its first hotel in 2008. 

It added that it brings travellers “everything they need, and nothing they don’t”, adding that this “feeds into the brand’s approach to sustainability; reducing waste, developing green buildings and setting the standard for hotels across the globe”.

The group has previously taken part in the GRESB assessment. In 2020, its score jumped over 25% compared to 2019 for the GRESB standing investment benchmark report, and in 2021, its score jumped a further 12%, placing it in the five-star rating category.

Klaas van Lookeren Campagne, CEO at citizenM said: “we are proud to be recognised with this five-star rating – a true testament to our dedication to putting ESG at the heart of our business strategy. 

“Our vision is to influence positive change in a world where we are simply guests, by building better and more sustainable futures for our guests, employees, shareholders and communities. This recognition reflects the great teamwork and collaborative effort of employees across our whole company, and we’re thrilled to see our efforts being rewarded year after year.” 

Sebastien Roussotte, CEO of GRESB, said: “Across the globe, organizations are demonstrating a deep commitment to ESG integration while making important strides towards a more sustainable future for us all. ESG transparency and improved performance have never been more important, and it is inspiring to see such a high level of dedication from the industry, particularly when so much has been disrupted by the pandemic this last year.”

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