The inherent nature of real estate means that our industry will always have a considerable impact on and be directly affected by the environment.
As we look back on the past 12 months, it is becoming clear that extreme climate conditions—from forest fires in California to historic cold and snow in Texas—will become a greater threat to communities across the United States and around the world.
The feature “Risk and Resilience” highlights how REITs are leveraging forward-looking physical climate risk data to understand their portfolios’ baseline and changing exposure to climate hazards, identify risk hotspots and portfolio trends, screen investments during due diligence processes, and benchmark against their peers.
At Host Hotels & Resorts (Nasdaq: HST), we publish a Task Force on Climate-Related Financial Disclosures (TCFD)-aligned annual CR report and our new 2025 greenhouse gas emissions target is verified by the Science Based Targets initiative (SBTi) at the 1.5-degree Celsius ambition level—the most ambitious level aligned with the Paris Agreement. We are committed to responsible investment, investing over $70 million in replacements and restorations of exterior walls, windows, roofs, doors, and grounds to further increase the resilience of our hotels from hurricane risk. Host was also recognized for our work on climate action by being named on CDP’s A-List for the third time, which recognizes companies across the world leading on environmental performance annually.
As public companies and good corporate citizens, we have a responsibility to be proactive and transparent in our efforts to increase and advance sustainability in the REIT industry, and to provide our stakeholders with the information they need to make informed decisions in an increasingly complex environment.
James F. Risoleo
2021 Nareit Chair
President, CEO & Director,
Host Hotels & Resorts