Minor Hotels Europe & Americas Sets Ambitious New Climate Goals, Targets Net Zero By 2050 – Travel And Tour World

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Minor Hotels Europe & Americas has reached a significant milestone with the validation of its 2050 net zero target by the Science Based Targets initiative (SBTi). The group has also significantly revised its 2030 goals, establishing more ambitious emissions reduction targets aimed at preventing the release of over 145,000 tons of CO2 equivalent.

The validation of these targets highlights the company’s strong commitment to proactive climate action and aligns it with Minor Hotels’ global sustainability objectives. As part of Minor International, its parent company, the international hotel owner and operator is making substantial strides towards SBTi validation across its global 2030 and 2050 targets, including a pledge to reach carbon neutrality by the middle of the century.

SBTi serves as the global standard for science-backed decarbonization targets, providing credibility and assurance that companies not only set but also achieve significant sustainability milestones in accordance with the Paris Agreement goals.

Updated Targets for 2030 and 2050

In its revised 2030 targets, Minor Hotels Europe & Americas aims to reduce absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 46.2% compared to 2019 levels. The company also targets a 27.5% reduction in Scope 3 emissions, covering purchased goods and services, capital goods, fuel and energy-related activities, operational waste, upstream leased assets, and franchises.

These more ambitious 2030 targets build upon the group’s previous commitment set in 2018 to reduce total GHG emissions by at least 20%, and are projected to prevent the emission of 146,803 tons of carbon dioxide equivalent.

Looking towards 2050, Minor Hotels Europe & Americas aims to reduce absolute Scope 1, 2, and 3 GHG emissions by 90% compared to its 2019 baseline, achieving net zero emissions throughout its entire value chain.

Both targets have been scientifically validated and approved by SBTi, underscoring the company’s adherence to stringent criteria for GHG emissions reduction and its contribution to combating climate change. These new targets also align Minor Hotels Europe & Americas with the scientific thresholds recommended by the Paris Agreement to limit global warming to 1.5 degrees Celsius above pre-industrial levels.

To meet these targets, the company has established a dedicated cross-functional taskforce, SBT 2030, led by its Sustainable Business Department and involving all key departments to achieve comprehensive decarbonization.

Elena Ruiz, Director of Sustainability at Minor Hotels Europe & Americas, said, “Aligning our regional targets with Minor International’s global objectives allows us to take a unified approach in addressing climate change, a strategic priority for all companies and one a hotel group of our caliber must be aiming for. Our commitment is embodied in UP for Planet & People, our corporate strategic plan for guaranteeing a sustainable business model. The fact that our new targets have been validated by SBTi is a significant milestone and brings us closer to achieving this shared goal of net zero that bit sooner”.

Recognition and Ongoing Sustainability Efforts

Minor Hotels Europe & Americas continues to receive accolades for its sustainability endeavors, maintaining the fourth position among hotels, resorts, and cruise lines in the latest S&P Global Sustainability Yearbook. It has also been consistently included in the FTSE4GOOD index since 2013. Additionally, the company remains listed in the Bloomberg Gender Equality Index and the CDP’s Supplier Engagement Rating Leaderboard.

Through its UP for Planet initiative, Minor Hotels actively supports the United Nations Sustainable Development Goals by implementing strategies to reduce emissions, optimize energy and water usage, and enhance resource efficiency based on the principles of reduce, reuse, recycle, and replace (4Rs).

Over half (53%) of Minor Hotels’ Europe & Americas portfolio holds sustainability certifications, with 66% of electricity sourced from renewable energy, reaching 100% in Southern Europe. The company is expanding its sustainability efforts by offering bicycle rental services at 99 hotels, electric vehicle chargers at 72 properties, and procuring 90% of its goods from local and certified suppliers.