Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced the publication of its inaugural corporate responsibility report, “Global Citizenship at Starwood.” The narrative provides an update on Starwood’s recent Global Citizenship initiatives, and outlines the company’s ongoing commitment to sustainability and environmental stewardship, community involvement, opportunities for associate development, and best practices in corporate governance.
Frits van Paasschen, President and Chief Executive Officer of Starwood, said, “At Starwood we believe being a good corporate citizen makes good business sense, and helps us offer our guests ‘A Better Way to Experience the World.’ Working closely with experts, NGOs, community partners, suppliers, and allies, Starwood has established a set of over-arching principles that guides our portfolio across all nine of our brands and nearly 1,200 properties worldwide. We are proud to share an update on our collective efforts and the great work our global team of associates does every day to implement practices and policies that help protect our planet and our future.”
Key focus areas captured in “ Global Citizenship at Starwood” include:
- SUSTAINABILITY AND CONSERVATIONStarwood is the first major hospitality company to require sustainability compliance and reporting for its entire portfolio. The company’s environmental policy establishes the foundation for its corporate responsibility efforts and the steps it is taking to protect the planet and its people. The report highlights Starwood’s progress against its important “30/20 by 20” goals for reducing water and energy consumption by 2020, announces a new greenhouse gas emissions reduction target of 30% by 2020, and details individual policies that inform Starwood’s comprehensive approach to sustainability.
- SOCIAL RESPONSIBILITYStarwood seeks to be a positive influence in every community in which it operates – an ideal exemplified by the $4.8 million Starwood donated to worthy causes and the roughly 129,000 hours of time that more than 43,000 Starwood associates reported volunteering in their local communities in 2012 alone. Through strategic philanthropy, grant contributions, employee volunteerism, guest engagement and in-kind support, Starwood creates opportunities via education and workforce development, fosters community pride through conservation and cultural preservation, and responds to civic needs via disaster relief and human rights.
- ASSOCIATESStarwood’s associates are the force behind its Global Citizenship efforts and signature guest experiences, and the company continuously seeks opportunities for community engagement, skills training, and personal and professional development for its team members worldwide. Starwood is consistently acknowledged as among the top companies globally for diversity among its employees. In addition, Starwood supports its valued team members via the Starwood Associate Relief Fund (SARF), a need-based financial grant program that, since 2006, has meaningfully helped more than 2,700 Associates get back on their feet after a natural disaster or emergency.
- SUPPLY CHAINStarwood procures goods and services from more than 100,000 vendors around the world and, in this report, shares an update on supply chain efforts, including strengthening human rights compliance, sustainability-aligned sourcing strategies, and procurement decisions. Starwood is working with its vast network of business partners in more than 100 countries to improve and align its supply chain and to encourage socially responsible practices for all businesses that outfit its global properties.
- PARTNERSHIPSAcknowledging the key role collaboration plays in achieving goals and effecting change, Starwood proudly outlines some of its partnerships with leading non-governmental organizations and non-profits, including Clean the World, Conservation International and UNICEF.
“We recognize that social responsibility drives business and builds the strong, vibrant communities that define our signature guest experience, and this report signifies our steadfast commitment to our sustainable future,” said Ken Siegel, Chief Administrative Officer and General Counsel of Starwood. “Owing to our global footprint, Starwood faces diverse social and environmental challenges as well as exciting opportunities, and we are determined to continue making the best decisions possible to further our collective global citizenship.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV