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Hotel and lifestyle brand CitizenM has received a five-star GRESB rating for the second consecutive year, and been named a “sector leader” for sustainability for real estate development.
GRESB, an ESG benchmarking group for real estate portfolios, said it recognised CitizenM for its sustainability leadership, demonstrating the brand’s continued commitment to ESG transparency and improved performance.
Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide. Its Sector Leader Awards recognises real estate and infrastructure companies, funds and assets that have demonstrated “outstanding” leadership in sustainability each year.
CitizenM participated in the Real Estate Assessment this year, obtaining Global Non-listed Sector Leader – Hotel. This marks the fifth year CitizenM has taken part in the GRESB assessment, and the second consecutive year it has achieved the five-star rating for standing investments.
The sector leader recognition and five-star award reportedly demonstrates CitizenM’s ongoing commitment to its wider ESG strategy. Since the first hotel opened in 2008, CitizenM 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”.
The hotel group added that by taking part in the GRESB assessment, it can align with ESG standards and grow as a “positive, sustainable brand” whilst benchmarking itself against leaders in the real estate industry.
Klaas van Lookeren Campagne, CEO at CitizenM, said: “2021 was a year of ESG acceleration, decision-making and achievements at citizenM. We are focused on engaging with conscious travellers and setting big goals for the future. We invested in data, and asked third-party auditors to review, challenge and assure our energy, emissions and water performance. We are proud to be recognised with these results – a true testament to our ongoing dedication to putting ESG at the heart of our business strategy.”
Sebastien Roussotte, CEO of GRESB, added: “GRESB Sector Leaders are the top-performing organisations leading the way to a net-zero future and pulling the industry forward. We applaud this year’s Sector Leaders for their commitment, leadership and dedication to ESG and sustainability.
“ESG reporting is now more important than ever before. In order to achieve the Paris Agreement goals and move closer to a net-zero future, transparency and accountability are key. Through GRESB participation, organisations are making a significant contribution to creating a more sustainable future for all.”
