Hyatt is a leading hospitality company that operates in the Room Revenue - Hotels sector in the United States of America. The company has a strong commitment to sustainability and is actively working towards decarbonisation and reducing its carbon footprint. Hyatt has set ambitious goals to reduce its greenhouse gas emissions, water consumption, and waste generation, and is implementing various initiatives to achieve these goals.
One of the key areas of focus for Hyatt is corporate energy. The company is committed to reducing its energy consumption and increasing its use of renewable energy sources. Hyatt has implemented several energy-efficient measures in its hotels, including the use of LED lighting, energy-efficient HVAC systems, and smart thermostats. The company is also investing in renewable energy sources such as solar and wind power to reduce its dependence on fossil fuels.
Hyatt is also exploring the use of corporate power purchase agreements (PPAs) to source renewable energy. A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees the purchase of a fixed amount of renewable energy at a fixed price. By entering into a corporate PPA, Hyatt can ensure a stable and predictable supply of renewable energy, which can help the company to reduce its carbon footprint and achieve its sustainability goals.
In addition to reducing its own carbon footprint, Hyatt is also working to promote decarbonisation in the wider hospitality industry. The company is a member of several industry groups and initiatives that are focused on sustainability, including the International Tourism Partnership and the Global Sustainable Tourism Council. Hyatt is also a signatory of the United Nations Global Compact, which commits the company to upholding principles of sustainability and responsible business practices.
Hyatt's commitment to sustainability is reflected in its operations and business practices. The company has implemented a range of initiatives to reduce its environmental impact, including water conservation, waste reduction, and sustainable sourcing. Hyatt has also established a comprehensive sustainability reporting framework, which enables the company to track its progress towards its sustainability goals and report on its environmental, social, and governance (ESG) performance.
Hyatt's sustainability initiatives have earned the company recognition and accolades from various organizations. In 2020, Hyatt was named to the Dow Jones Sustainability World Index, which recognizes companies that demonstrate leadership in sustainability. The company was also recognized by the Carbon Disclosure Project (CDP) for its efforts to reduce greenhouse gas emissions and mitigate climate change.
In conclusion, Hyatt is a leading hospitality company that is committed to sustainability and decarbonisation. The company is actively working to reduce its carbon footprint, increase its use of renewable energy, and promote sustainability in the wider hospitality industry. Hyatt's sustainability initiatives are guided by a comprehensive reporting framework and have earned the company recognition and accolades from various organizations. As the hospitality industry continues to evolve, Hyatt's commitment to sustainability will be a key factor in its success and competitiveness.