Following the previous article about ecologic obsolescence, this article presents the sustainability performance and initiatives in the hospitality industry.
Commonly known as ESG (Environmental, Social and Governance), which covers a wide range of key performance indicators (KPIs) in corresponding aspects, such as green house gas (GHG) emissions, stakeholder engagement and people management.
Amid the COVID-19 outbreak, environmental and social issues received increasing attention, and ESG disclosure became a critical indicator of corporates being good citizens and neighbors.
This article provides an overview of how the six major casino operators in Macau disclose their ESG performance in 2020 and reviews the quality of their reporting with recommendations for future reporting.
The full article is available for download at the bottom of this page!
Casino operators covered in the article include:
- Galaxy Entertainment Group ("GEG"),
- Melco International ("Melco"),
- MGM China ("MGM"),
- Sands China ("Sands"),
- SJM Holdings ("SJM") and
- Wynn Macau ("Wynn").
All 6 casino operators in Macau reported their ESG and sustainability commitments in 2020 as part of their annual reporting; some of them also submitted their performance to CDP, a not-for-profit organization dedicated in global benchmarking of environmental reporting for year 2020 and 2021.
Environmental KPIs
Four major environmental KPIs are compared in this article, including emissions, consumption of energy and water, and waste generation and mitigation.
Source: ESG reports and annual reports of operators, AP Research
Social KPIs
Social sustainability, on the other hand, covers a wide range of metrics, including workforce profile, employee engagement, and community engagement.
Source: ESG reports and annual reports of operators, AP Research
Reporting Benchmarking (2020)
Overall, all six operators have their own strengths and weakness in different ESG topics under both GRI standards and HKEX Reporting Guide, and it provides readers and operators a better understanding of ESG reporting quality by category.
Source: ESG reports and annual reports of operators, AP Research
Lastly and most importantly, this article reviews the quality of the ESG reporting of casino operators in Macau, and it can help to enhance their performance and encourage more detailed disclosure in the future.
Click here to read the full article
Anchi LIU graduated from School of Hotel and Tourism Management at The Hong Kong Polytechnic University. She has gained industry through working in hotels in Taiwan and Singapore. Prior to hospitality consulting, she also gained experiences in project management with property developer and proptech firm in Hong Kong.
AP Hospitality Advisors serves owners, investors, developers, operators and lenders of hospitality assets across Asia-Pacific. The team blends expertise in operations, real estate and finance to support any critical step in the asset life-cycle.
www.ap-ha.com
