Marriott International Announces Ambition To Go Net-Zero
Marriott Internationals portfolio of hotels has been working to reduce its carbon footprint as part of its existing 2025 sustainability goals and this latest commitment to climate action is the next step in the companys sustainability journey.
Marriott International, Inc. (Nasdaq: MAR) ("Marriott") today announced it has submitted its letter to the Science Based Targets initiative, committing to:
· Set science-based emissions reduction targets across all scopes, in line with 1.5°C emissions scenarios; and
· Set a long-term science-based target to reach net-zero value chain greenhouse gas (GHG) emissions by no later than 2050, in line with the criteria and recommendations of the Science Based Targets initiative.
As part of its commitment to net-zero emissions, with support from a number of organizations including Global Citizen, Marriott is proud to announce its official sign-on to the Race to Zero via the most ambitious standard, Business Ambition for 1.5, and looks forward to celebrating this milestone on September 25 at Global Citizen Live. Race to Zero is a global campaign rallying companies, cities, regions, and financial and educational institutions, to reach net-zero value chain greenhouse gas emissions by no later than 2050. Participants are committed to the same overarching goal: reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets.
"We are driven to make a positive and sustainable impact wherever we do business, and this rigorous climate commitment to reach net-zero emissions is a needed step for us to do our part to help the communities and environments where we live, work and visit remain resilient and vibrant," said Anthony Capuano, Chief Executive Officer, Marriott International. "Even as we navigate one of the industry's most difficult periods, we know this ambition will be a challenge. We are proud to join companies and institutions around the world striving to tackle climate change and build a healthier, more sustainable world."
Marriott International's portfolio of hotels has been working to reduce its carbon footprint as part of its existing 2025 sustainability goals and this latest commitment to climate action is the next step in the company's sustainability journey. Achieving these new targets will require partnering with Marriott's dedicated associates across disciplines along with the company's valued hotel owners and franchisees. Over time, initiatives may include increased use of renewable energy, building electrification to maximize renewable electricity, continued modifications to design standards so buildings are more efficient, and the installation of automation systems and energy efficiency upgrades (for example, smart thermostats). In addition to the company's goal to provide further visibility to the carbon footprint and environmental impact of their travel with Marriott, guests and customers will see enhanced focus on existing sustainability efforts such as solid waste and food waste reduction and natural capital restoration, with the opportunity to participate in activities such as reforestation as well as coral and mangrove plantings.
In support of the United Nations Sustainable Development Goals (SDGs), this announcement aligns with the company's sustainability and social impact platform, Serve 360: Doing Good in Every Direction, which guides Marriott's commitment to help take on the world's most pressing social, environmental, and economic issues, delivering value for associates, customers, owners, the environment, and communities around the world. It also builds on Marriott's long-standing history of embedding sustainability throughout its business strategy, operations and value chain. Starting with the company's core value to Serve Our World, and its first-generation environmental impact reduction goals, to its latest series of waste reduction initiatives, Marriott is promoting the sustainable development of the communities in which it operates, as well as the resiliency and longevity of the business.
Marriott's sustainability strategy is driven by a wide range of initiatives to reduce environmental impacts through the construction and operation of sustainable hotels and responsible sourcing while protecting and restoring the ecosystems on which life depends. Recent initiatives include:
· The reduction of single-use plastics including replacing tiny, single-use toiletry bottles of shampoo, conditioner and bath gel in guestroom showers with larger pump-topped bottles. When fully implemented across the globe in 2022, the company's expanded toiletry program is expected to prevent about 500 million tiny bottles annually from going to landfills.
· The roll-out of an internal food waste prevention and reduction educational campaign, designed to support Marriott's goal to reduce food waste by 50%.
· The launch of a publicly available responsible sourcing guide, to help Marriott's supplier community join its sustainability journey on the path to responsibly sourcing 95% of the company's top ten priority categories.
· The development of a certifications database to help properties operate more responsibly and work towards the goal of 100% of the portfolio receiving a third-party sustainability certification.
· Planting more than 415,000 trees over the last several years, including through the company's work as a founding member of the Evergreen Alliance, a select group of Arbor Day Foundation partners and collaborators committed to advancing trees and forests as natural solutions for corporate sustainability and citizenship goals.
· Innovative ecosystem restoration and carbon sequestration projects, such as working with The Ocean Foundation to remove and repurpose sargassum seaweed, which has had devastating impacts on the environment.
More details about Marriott International's environmental, social and governance (ESG) efforts and Serve 360 can be found at Marriott.com/Serve360.