During this briefing, a panel of experts will explore the impact of COVID-19 to Australian’s Hotel sector and how ESG fitting into the plan. Amélie Delaunay of ANREV, Dr Sabine Schaffer of Pro-invest, Ruben Langbroek of GRESB and Carlos Flores of NABERS will share with us their views from different perspectives.
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ESG reporting has developed into an essential factor in assessing ESG initiatives and communicating on sustainability commitments, and COVID-19 has only stood as a catalyst for this trend. The pandemic has demonstrated to the market that easily neglected ‘non-financial’ factors are equally as important to long-term sustainability of businesses as any financial factors. It is truly an exciting time to be a part of the movement towards knowledge sharing and harnessing new opportunities as means of managing and reporting towards ESG factors.
Lately, three letters have been blooming everywhere whenever conversation revolves around sustainability reporting: ‘ESG’. The concept of ESG first appeared in 2001, as such, the topic is not new, prescient concepts such as social, ethical, or environmental issues (SSE), or socially responsible investment (SRI) were already reported by different industries and businesses in the preceding decades. The letters alone might not mean much, but together they represent an entity’s behavior on environmental issues, its engagement with society, and the strength of its governance.
The emphasis in ESG reporting is usually on the ‘E’. The ‘G’ is also getting some attention with transparency and diversity also becoming focal points on boardroom agendas. However, post-pandemic the future of ESG reporting must lie with the ‘S’ and particularly with stakeholder engagement.