GlobalData offers a comprehensive analysis of Park Hotels & Resorts, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Park Hotels & Resorts‘s ESG performance. GlobalData’s company profile on Park Hotels & Resorts offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Park Hotels & Resorts has set a goal to transition its business operations to net-zero emissions by 2050. The company aims to reduce its environmental footprint across energy, greenhouse gas (GHG), water, waste, and renewable energy. The company has already reduced its scope 1 and 2 emissions intensity by 28% across its portfolio since 2017. In 2021, the company's scope 1 emissions were 52,089 metric tons of CO2e, while scope 2 emissions were 149,624 metric tons of CO2e. The company's greenhouse gas intensity was 6.74 kgCO2e per sqft in 2021. Park Hotels & Resorts’ latest filings mentioned the keywords ‘Emissions’ and ‘Climate Change’ most number of times in relation to ‘Net Zero’.
Park Hotels & Resorts has taken several steps to reduce its emissions, including investing in low-carbon efficiency projects, evaluating opportunities for on-site renewable energy, and reducing its portfolio's energy usage and carbon emissions. The company has also implemented a First Responder Program to address natural and man-made disasters through strategic mitigative actions. The company's Corporate Responsibility Report outlines both the transitional and physical risks of climate change to its business and is informed by the work of its internal Green Park Committee.
Park Hotels & Resorts plans to further quantify its environmental objectives through the disclosure of environmental reduction targets across energy, carbon, water, and waste to guide its sustainability efforts. The company is currently evaluating pathways toward transitioning its business operations to a sustainable model. Further, the company acknowledges that the impacts of climate change will increase over time and may alter key markets and travel destinations. The company has internally set environmental footprint reduction targets for energy, GHG, water, waste, and renewable energy.
In conclusion, Park Hotels & Resorts has set a goal to transform its business operations to achieve decarbonaization and has taken several steps to reduce its emissions. The company plans to further quantify its environmental objectives through the disclosure of environmental reduction targets across energy, carbon, water, and waste to guide its sustainability efforts. The company is currently evaluating pathways toward transitioning its business operations to net zero while maintaining the best interests of its stakeholders.