Pebblebrook Hotel Trust Publishes Fifth Annual ESG Report

Rhea-AI Summary

Pebblebrook Hotel Trust (PEB) released its fifth annual Environmental Sustainability and Social Responsibility Report, showcasing its ESG performance and commitment to sustainable business practices. The report aligns with international standards and highlights achievements such as significant reductions in greenhouse gas emissions and waste intensity, diverse workforce, and governance practices. The full report is available on the company's website.

Positive

• Pebblebrook demonstrated a proactive approach in evaluating and planning for sustainability risks following TCFD guidelines.
• The company achieved a remarkable 37% reduction in greenhouse gas emission intensity per square foot compared to the baseline year.
• Pebblebrook reported a significant 23% decrease in energy intensity per square foot and an impressive 58% reduction in waste intensity per occupied room.
• The company's commitment to social responsibility is evident through a diverse workforce with 51% female employees and ongoing development of the Racial, Equity, and Inclusion Team (REIT).
• Pebblebrook's governance practices include a diverse Board of Trustees, with 50% of independent trustees from diverse backgrounds and 33% of independent trustees being female.

Negative

• None.

BETHESDA, Md.--(BUSINESS WIRE)-- Pebblebrook Hotel Trust (NYSE: PEB) (the “Company” or “Pebblebrook”) today announced that it published its fifth annual Environmental Sustainability and Social Responsibility Report covering the Company’s Environmental, Social, and Governance (“ESG”) performance in 2022 and its commitment to environmentally sustainable business practices and social responsibility to its employees and other stakeholders.

Pebblebrook’s 2023 ESG Report is aligned with international reporting standards such as the Global Reporting Initiative (“GRI”) and includes pivotal disclosures in accordance with the Real Estate Sustainability Accounting Standard of the Sustainability Accounting Standards Board (“SASB”). It also demonstrates Pebblebrook’s proactive approach in evaluating and planning for sustainability risks following the guidelines of the Task Force on Climate-Related Financial Disclosure (“TCFD”). Additionally, the report highlights the Company’s progress towards significantly reducing its greenhouse gas emissions intensity by 2030.

Key achievements highlighted in the 2023 ESG Report include:

Environmental Sustainability

• 1 Hotel San Francisco recently applied for LEED Gold Certification for Operations and Maintenance;
• A remarkable 37% reduction in greenhouse gas emission intensity per square foot, compared to the baseline year;
• A significant 23% decrease in energy intensity per square foot;
• An impressive 58% reduction in waste intensity per occupied room;
• The implementation of regular maintenance checks for energy and water equipment across all properties;
• The appointment of a Green Ambassador at each hotel;
• The installation of low-flow toilets and other waste-saving measures in 92% of properties; and
• The elimination of plastic straws in 84% of properties.

Social Responsibility

• A diverse workforce, with 51% female employees;
• Ongoing development of the Company’s Racial, Equity, and Inclusion Team (“REIT”); and
• Support for over 10 charitable organizations through donations, hotel stays, and employee volunteer efforts.

Governance

• A diverse Board of Trustees, with 50% of independent trustees from diverse backgrounds, and
• 33% of our independent trustees are female.

Pebblebrook’s dedication to ESG principles highlights its role as a responsible corporate citizen and sets a benchmark in the hospitality industry for sustainable and equitable practices.

The 2023 ESG report and other ESG-related materials can be found at the following website: https://pebblebrookhotels.com/corporate-responsibility/

Pebblebrook’s ESG Committee consists of three independent members of the Board of Trustees, one executive officer, and three senior employees, including Phillip M. Miller (Chairperson and independent trustee), Cydney C. Donnell (independent trustee), Bonny W. Simi (independent trustee), Raymond D. Martz (Co-President and Chief Financial Officer), Gabrielle Buck (Vice President), Susan Patterson (Vice President), and Matt Klein (Director).

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 46 hotels and resorts, totaling approximately 12,000 guest rooms across 13 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow us at @PebblebrookPEB.

For additional information or to receive press releases via email, please visit www.pebblebrookhotels.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240131794135/en/

Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330

Source: Pebblebrook Hotel Trust

FAQ

What is the ticker symbol for Pebblebrook Hotel Trust?

The ticker symbol for Pebblebrook Hotel Trust is PEB.

What does the 2023 ESG Report highlight?

The 2023 ESG Report highlights significant reductions in greenhouse gas emissions, energy intensity, and waste intensity, as well as Pebblebrook's commitment to social responsibility and governance practices.

Where can the full ESG report be found?

The full ESG report and other related materials can be found on Pebblebrook Hotel Trust's website at https://pebblebrookhotels.com/corporate-responsibility/.