2019 AT A GLANCE
(Hersha’s Material ESG Topics)
$100M in portfolio value attributed to EarthView as of 2019
1.7 YEAR average payback period for our efficiency investments
$14M in EarthView savings since inception
+60 BPS impact to EBITDA margin
We are proud to announce targets for reducing our environmental impact by 2030 (using a 2010 baseline) and have joined the Science-Based Targets initiative to align our emissions reduction target with “science-based target” requirements. See here, in our “Environmental Impact” section, for more information on our targets.
Board of Trustees and Governance Information
Women and Minority Board Members
Separate chair and CEO
Code of Conduct for Directors and Executive Officers
Our comprehensive, updated Code of Ethics and Code of Conduct – including policies on human rights, labor rights, diversity, anti-harassment, formal grievance process, whistleblowers, non-retaliation, health & safety, and supplier code of conduct– are available in the Governance section of our Hersha website.
RESILIENCY & RISK
Our resiliency strategy includes the ongoing evaluation of potential climate risks, the identification of mitigation strategies, and the ongoing monitoring and assessment of our progress.
*Hersha NOAA Hazard Score is collated from data by the National Oceanic Atmospheric Administration (NOAA), and peer risk score calculated from the Morgan Stanley report “Rising Flood Risk: How Much and at What Cost?” (3/2019). The NOAA Hazard Score takes into account flood risk as defined by FEMA, the Federal Emergency Management Agency.
AWARDS & RECOGNITION
Hersha has been recognized for our approach to driving positive environmental and community impact, both at a local and global scale. Highlighted are a few of our recent awards:
Global Real Estate Sustainability Benchmark Ranking – Ranking within the Top 15% of 964 GRESB participants
NAREIT’s Leader in the Light (Lodging & Resorts sector) – Recognized four times for superior sustainability practices
Hersha – America’s Most Responsible Businesses 2020 by Newsweek
Hersha – United Way of the Capital Region’s “Best Of” Award for a Medium-Sized Company in 2019
Hersha – Best Place to Work by the Philadelphia Business Journal from 2017-2019
Hersha – Top Work Places 2020 by The Philadelphia Inquirer
In 2019, our sustainability platform, EarthView, was featured in numerous publications, including Hotel Business Review, Hospitality Trendz, NAREIT, the Urban Land Institute, and Asian Hospitality. We were also featured in a report with the International Tourism Partnership, in collaboration with the International Finance Corporation – a part of the World Bank Group. These publications have an estimated total audience of 165,000.
SUSTAINABLE DEVELOPMENT GOALS: PRIORITIES
We recognize that all of the Sustainable Development Goals (SDGs) are closely integrated and play vital roles in our communities and planet. However, similar to other leading companies, we realize that a focus on specific goals is the most effective avenue towards progress. Therefore, to further support both Hersha’s and the UN’s missions, we have prioritized eight SDGs that are closely aligned with our business: