This case study was published in the 2023 REIT Industry ESG Report, which details the REIT and publicly traded real estate industry's environmental, social, and governance (ESG) performance and features 20 case studies showcasing REIT leadership and ESG innovation from a variety of sectors. The report serves as a practical tool for shareholders and stakeholders to assess the scale and impact of the REIT industry's ESG commitments and initiatives. Applicable footnotes and/or citations for this case study are available in the full report.
Positively impacting the real estate industry and its local communities are top priorities for Host Hotels & Resorts, Inc. Its 2050 vision signifies a deep commitment to corporate responsibility, centered around the aspiration of becoming a “net positive” company across key environmental, social, and governance issues. Host’s net positive aspiration is a next step toward creating additional value through investments that generate positive environmental and social impact.
Host continues to work toward its ambitious 2025 sustainability performance targets, such as reducing its greenhouse gas intensity per square foot by 55% from a 2008 baseline, which has been verified by the Science Based Targets initiative (SBTi) at the 1.5ºC ambition level. Host is also looking further ahead to create a long-term framework to guide its value-oriented responsible investment and corporate responsibility strategies. This focus has led to Host’s 2050 vision that will enable the company to meet its own sustainability goals while maintaining a competitive edge in a decarbonizing economy and changing world.
Host’s 2050 vision includes five aspirational goals that span various environmental and social topics, and lay the foundation for its long-term strategy
- Aspire to Net Positive Impact Throughout its Value Chain
- Own One of the Most Resilient Portfolios
- Build One of the Safest, Most Diverse, and Most Responsible Supply Chains
- Be an Employer of Choice and Lead with a Measurable Culture of Diversity, Equity, Inclusion and Belonging
- Be a Catalyst for Positive Social Impact in our Industry and Communities
Host is ensuring that transparency and accountability are at the core of its 2050 vision. To effectively measure progress toward becoming a net positive company and achieving its regenerative long-term goals, Host is working on interim environmental and social performance targets that create an actionable path to 2050. The company’s existing 2025 goals are the first step in this phased roadmap, which includes key targets from renewable energy to waste diversion, to unconscious biases trainings. Host strives to continue its work in moving the industry forward as it relates to environmental and social issues by being a catalyst for positive change. Host recognizes that a key part of meeting aspirational, long-term goals is deliberately tracking and analyzing progress, being intentional in planning for the future, and collaborating with key stakeholders along the way.
Host Hotels and Resorts, Inc. is an S&P ® 500 company, the largest lodging REIT, and one of the largest owners of luxury and upper-upscale hotels. The company currently owns properties in the U.S. and internationally and holdings in non-controlling interests in several domestic and international joint ventures.