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October 30, 2024
citizenM demonstrates its continued commitment to ESG transparency and improved performance by participating in the 2024 GRESB Real Estate Assessment and once again achieving the highest rating available – 5 stars – achieved by only 20 percent of entrants.
This is the seventh year citizenM has taken part in the GRESB assessment, and the fourth consecutive year it has achieved the 5-star rating. Each year, GRESB assesses and benchmarks the ESG performance of assets worldwide, providing clarity and insights to financial markets on complex sustainability topics.
The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and are aligned with international reporting frameworks, goals and emerging regulations. This year’s Real Estate Assessment saw a record 2,223 listed and non-listed portfolios participate, generating a benchmark that covers USD 7 trillion of gross asset value (GAV) across 80 markets.
GRESB data is used by hundreds of capital providers and thousands of asset managers to benchmark investments across portfolios, and to better understand the opportunities, risks and choices that need to be made as the industry transitions to a more sustainable future.
“Each year, the GRESB Benchmark serves as a powerful reminder of the positive impact that focused sustainability efforts can have on our industry and beyond. We commend participants for their ongoing commitment to sustainable development,” said Sebastien Roussotte, CEO of GRESB.
Klaas van Lookeren Campagne, Chief Executive Officer at citizenM says: “We are thrilled to have once again achieved a 5-star GRESB rating for our standing portfolio, with improved scores year-on-year. These results are a testament to our ongoing dedication. Building on this success, we remain focused on achieving our ambitious sustainability goals across the five pillars of our ESG strategy, all centred on ultimately influencing positive change in a world where we are simply guests.”
In addition to this latest GRESB achievement, citizenM has successfully achieved and maintained Green Building certifications across 100% of its standing portfolio, underscoring its commitment to sustainability. Notably, citizenM Menlo Park received a BREEAM in-use Outstanding certification, reflecting the highest standards in environmental performance. The company continues to enhance sustainability across its existing hotels, with the New York Bowery property improving its BREEAM In-Use rating from Very Good to Excellent this year.
As part of its goal to decarbonise its hotels by 2040, citizenM is already taking decisive action. This year, the company opened two fully electrified hotels in Rome and Menlo Park, significantly reducing emissions and lowering the carbon footprint per room night for travellers.
citizenM’s charity, citizenMovement, also celebrated a significant giving milestone this year. Since partnering with World Bicycle Relief in 2018, they have donated €4,341,977, funding 17,049 bicycles and impacting 85,245 lives. In 2024, citizenMovement further supported World Bicycle Relief to deliver Mobilised Communities programs in the Zomba and Kasungu districts of Malawi.
To learn more about citizenM’s ESG efforts, visit www.citizenm.com/esg.
