WORLDWIDE: The Energy & Environment Alliance (EEA) and the Asian American Hotel Owners Association (AAHOA) have partnered to drive unified sustainability standards, benchmarks, and performance metrics across the hotels and lodging sector.
AAHOA has 20,000 members, which own 60 per cent of the hotels in the United States, while the EEA’s membership represents around 45,000 hospitality assets globally.
The two organisations will contribute to the work of the Special Taskforce on Sustainability Standards for the Hotels and Lodging Sector, which the EEA announced in September last year.
This Taskforce aims to align the hospitality industry with globally recognised standards, including those set by the International Accounting Standards Board (IASB), International Financial Reporting Standards (IFRS), and the International Sustainability Standards Board (ISSB) which have been adopted by more than 30 countries.
The idea is that these frameworks will provide a common language for investment-grade sustainability information, enabling interoperability with regulations like the European Union’s Corporate Sustainability Reporting Directive (CSRD).
Ufi Ibrahim, CEO of the EEA said: “The world has changed. Sustainability risks and opportunities now directly impact liquidity, asset values, the cost of capital, and investment decisions. In many jurisdictions, sustainable practices are becoming legal mandates. Yet, the lack of harmonised standards and reliable benchmarks is problematic.
“By leading the development of robust and widely supported standards, the hospitality industry can avoid potentially counterproductive regulatory impositions. It is encouraging to see alignment between regulators and industry leaders on this proactive approach.”
Over the next six months a consultation process will take place to raise awareness and gather preliminary feedback through meetings, roundtables, and targeted discussions.
Between June and September this year a 90-day consultation will take place where stakeholders can provide feedback via an online platform.
At the end of this year in December there will be a post-consultation period and a presentation of outcomes to industry leaders and regulators.
AAHOA president & CEO Laura Lee Blake said: “This partnership between AAHOA and EEA marks a transformative step for the hospitality industry. By championing the creation of transparent and actionable sustainability standards, we are equipping hotel owners to meet evolving global demands while strengthening their competitive edge.
“This initiative is not only a pledge to environmental responsibility but also a strategic effort to enhance asset value and build investor trust in our industry’s future.”
The EEA’s Hospitality Sustainability Symposium will take place on February 25, 2025. The event brings together key stakeholders to discuss the latest trends, challenges, and opportunities in sustainability for hotels and lodging assets.
EEA launches Taskforce and global consultation for sustainability standards
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