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March 27, 2024

EEA Sustainability Symposium:
ESG in the hospitality industry

Transforming the business of hospitality, the Energy and Environment Alliance (EEA) Sustainability Symposium is the ESG gathering for leaders of the international hospitality community. At this industry central meeting point for regulators, investors and influencers, it became clear that the hospitality industry is moving away from ‘should we, shouldn’t we’ discussions to ‘What can I do? How can I start?’

Omnevue Co-Founder and Chief Science Officer,
Dr Marc Lepere explains in this short film:

Overall, the symposium provided valuable insights into the crucial role of data, accounting practices and sustainability reporting in shaping the future of the hospitality industry.

Here are some key takeaways from the event:

1. “Stop hiding behind data and start to embrace it”

This statement underscores the need for businesses to actively engage with data rather than avoiding or neglecting it.

2. “It’s about mindset towards data”

Highlighting the significance of adopting a positive and proactive attitude towards leveraging data effectively.

3. “The hospitality industry needs to report decision-useful data”

Stressing the importance of generating and presenting data that informs strategic decision-making processes within the hospitality sector – this is what we refer to as ‘financial-grade, auditable ESG & CO2e data’.

4. “Accounting is the language of business”

Underscoring the essential role of accounting in reporting a businesses non-financial data.

5. “Businesses need quality financial-grade, auditable ESG & CO2e data that can be linked to the P&L, so that it can drive cost savings and demonstrate return on investment”

This statement emphasises the necessity for businesses to have access to high-quality, verifiable data related to Environmental, Social, and Governance (ESG) factors and carbon emissions, which can be integrated into financial reporting systems to drive efficiency gains and showcase the return on investment.

Dr Marc Lepere (Co-Founder & Chief Science Officer at Omnevue) led the event on behalf of the EEA.

Aidan McNulty (Chief Revenue Officer at Omnevue) took part in the ‘Feeding strategy with data’ panel discussion alongside JLL, Invesco Ltd, PCAF, D2o and Beyond Apartments.

Jamie Craze (ESG Specialist at Omnevue) discussed ‘ESG Measurement and Audit-Grade Reporting’ alongside d2o.

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