Driving sustainability: Hyatt’s Journey
Ms. Samantha de Mello, Director of ESG – Asia Pacific, Hyatt Hotels Corporation
To adopt CSR as a business model and engage hotel companies in continuous performance of CSR hotel practices, and thereby achieve sustainable development and concurrent growth to the benefit of both business and society.
In collaboration with the Centre for Business Sustainability (CBS) at CUHK, we launched the first Greater China Hotel Business Sustainability Index (Hotel BSI) in 2020. The unique “Values – Process – Impact” (VPI) model, which was developed and launched in 2015 by CBS, is used in the assessment of the Hotel BSI. Each index company was assessed in three major areas: CSR Values, CSR Process (comprising CSR Management and Practice) and CSR Impact against seven stakeholder groups (Community, Consumer, Employee, Environment, Government, Investor, and Supplier), as well as the company’s contributions to economic, social and environmental sustainability.
The Hotel BSI presents the composite score of the annual sustainability performance of 29 listed hotel companies in Greater China and 9 large international hotel chains. The assessment aims to provide companies with an objective evaluation of their practices and provide benchmarking with their hospitality industry peers. This encourages hotel companies to adopt CSR as a progressive business model for achieving business sustainability, and serves as a robust indicator for ESG investors selecting companies with socially responsible corporate behaviour.