Michael Chang, VP, Energy & Sustainability at Host Hotels & Resorts, Inc. (NASDAQ: HST), participated in a video interview during Nareit’s REITworld: 2023 Annual Conference held Nov. 14-16 in Los Angeles. Chang was Nareit’s 2023 Leader in the Light Leadership Personified Award winner.
Chang said in 2022, Host launched its long-term aspirational vision to become a net-positive company.
“Not only…net zero in carbon emissions, but across all environmental and social impacts in our business, including our value chain,” he said. “This framework really sets our long-term narrative on how we will approach ESG issues into the future.”
Chang added that earlier this year, Host launched its 2030 goals, the REIT’s fourth generation of ESG goals, which include building on the company’s climate risk program. Host has also set a goal to execute on its sustainable finance strategies by increasing both green building certification and renewable energy usage within its portfolio.
Turning to how the REIT industry can move the needle on ESG going forward, Chang said engaging on policy and methodology development is important.
“These opportunities for engagement…provide an opportunity for us to show leadership and set an example using our scale to drive that impact across our industry and really communicate what we’re doing in the space,” he said.
Chang added that Host’s sustainability strategy is a core component of the company’s broader corporate strategy, noting that over the past five years, the REIT has completed 620 projects with sustainability attributes that are expected to save the company roughly $20 million per year in utilities and generate roughly 15-20% in returns.