Sustainability in Hospitality: 4C Hotel Group Hosts the EEA’s Inaugural Summit
10 March 2022
4C Hotel Group was honoured to host the Energy & Environment Alliance’s (EEA) inaugural Summit on Tuesday, 22nd February 2022 at The Westin London City.
The event brought together 140 delegates to discuss how the Hospitality industry can lower carbon emissions and push Environmental, Social and Governance (ESG) to the forefront of the agenda. Such a turnout demonstrated the scale and importance of the topic – an extremely positive sign for the industry.
Sustainability is key for profitability
The event opened with an address from Lord Deben, Chairman of the UK’s independent Committee on Climate Change. His speech highlighted the importance of sustainability being interwoven throughout a business. “Sustainability is at the heart of any business that is going to be profitable,” he said. And this sentiment was echoed throughout the event.
Consumers and funders are increasingly conscious of ESG factors. They expect businesses to demonstrate their commitment to sustainability in tangible ways. And while this presents a challenge for leaders, it also represents a vital commercial opportunity.
Sustainability is at the heart of any business that is going to be profitable,”Lord Deben, Chairman of UK’s Committee on Climate Change
Elizabeth Davies of HSBC noted that tenants are already paying a premium for green offices – and this trend is likely to reach the hotel market very soon. Similarly, Paul George – Commercial Manager at Drax – described a “shift from energy as a cost centre, into energy as an asset – and using that to drive profitability.”
Act now or risk obsolescence
While the mood was optimistic, there was also a palpable sense of urgency. As consumer and investor expectations grow, those that fail to meet them will see consequences – with assets that are not sufficiently green being rendered obsolete in the future.
“The tide is changing,” said Al-Karim, Nathoo, Managing Director of 4C Hotel Group. “You need to de-risk and future-proof your assets. Because the cost of decarbonising is only going to increase.”
These measures cannot be implemented overnight. But the summit made clear that businesses must accelerate their efforts – and start making their long-term goals more explicit.
“Show the steps you are taking, to build trust,” advised Max Kufer, head of ESG, private markets at Invesco. “Institutional investors are looking at partners that have these sustainability goals in mind.”
Promoting the EEA
As an active member of the EEA, we were thrilled to see this level of engagement with issues that we consider to be among the most vital of our time. We hope it will be a watershed moment, helping to mobilise support for the alliance’s overarching mission.
For those unfamiliar with it, the EEA has three core goals:
- To review considerations critical to strategic CAPEX and OPEX decisions at this time: including the regulatory context, legal and governance requirements, and technological developments in NZC and ESG.
- To facilitate access to capital, both equity and debt, to drive NZC and ESG investment in Hotel and Apart Hotel assets.
- To instigate action: by facilitating meaningful networking between institutional investors, lenders, experts, and asset managers.
These goals align perfectly with our outlook at 4C. As hoteliers, we are passionate about networking and collaborating with like-minded businesses. We believe such mutual support is essential for our industry to achieve true sustainability – and build a better future for everyone. To support the cause, become a member of the EEA today.
About 4C Hotel Group
Founded in 2010, the 4C Hotel Group is a privately-owned property development company with a portfolio of properties in key business centres and leisure hotspots across the UK, Canada, Africa and the Middle East. Headquartered in London, the 4C Hotel Group’s mission is to create sustainable, profitable growth through the delivery of a positive guest experience, innovative processes, quality partnerships and a commitment to provide opportunities for personal and professional development. To find out more visit www.4cgroup.co.uk