ifrs-s2-ibg-volume-52-hotels-and-lodging-part-b

Industry-based Guidance on implementing

Climate-related Disclosures

Volume 52—Hotels & Lodging

June 2023

IFRS S2

IFRS

® Sustainability Disclosure Standard

International Sustainability Standards Board

This Industry-based Guidance accompanies IFRS S2 Climate related Disclosures (published

June 2023; see separate booklet) and is issued by the International Sustainability

Standards Board (ISSB).

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IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

Introduction

This volume is part of the Industry-based Guidance on Implementing IFRS S2 Climate-related

Disclosures. This guidance suggests possible ways to apply some of the disclosure requirements in

IFRS S2 but does not create additional requirements.

This volume suggests possible ways to identify, measure and disclose information about

climate-related risks and opportunities that are associated with particular business

models, economic activities and other common features that characterise participation in

this industry.

This industry-based guidance has been derived from Sustainability Accounting Standards

Board (SASB) Standards, which are maintained by the International Sustainability

Standards Board (ISSB). The metric codes used in SASB Standards have been included for

ease of reference. For additional context regarding the industry-based guidance contained

in this volume, including structure and terminology, application and illustrative

examples, refer to Section III of the Accompanying Guidance to IFRS S2.

IFRS S2 INDUSTRY-BASED GUIDANCE

Volume 52—Hotels & Lodging

Industry Description

Hotels and lodging industry entities provide overnight accommodation, including hotels,

motels and inns. This competitive industry is comprised primarily of large hotel chains in

which customers base purchase decisions on a wide range of factors including quality

and consistency of services, availability of locations, price, and loyalty programme offers.

Entities often are structured in one or more of the following ways: direct revenue from

hotel services, including room rental and food and beverage sales; management and

franchise services with fee revenue from property management; and vacation residential

ownership with revenue from sales of residential units.

Note: Some entities in the Hotels & Lodging industry also are engaged in activities of the

Restaurants (FB-RN) industry. This Standard assumes hotel and lodging entities do not

provide food and beverage services. Therefore, disclosures regarding food safety, waste

and sourcing, which may be material for entities that also offer food and beverages, are

not covered by this industry.

Sustainability Disclosure Topics & Metrics

Table 1. Sustainability Disclosure Topics & Metrics

TOPIC

METRIC

CATEGORY

UNIT OF

MEASURE

CODE

Number of lodging facilities and the percentage that are:

(1) managed, (2) owned and leased, (3) franchised

Quantitative

Number,

Percentage

(%)

SV-HL-000.D

Energy Management

Topic Summary

Hotel buildings require a significant amount of energy to operate, which is a substantial

portion of hotel operating expenses. The industry purchases the majority of its electricity

commercially. This purchased electricity indirectly results in greenhouse gas (GHG)

emissions, which is a significant contributor to climate change. Entities in the industry

are implementing energy management best practices to reduce operating expenses and

environmental impacts and to improve their brand value with guests, who increasingly

are concerned about environmental sustainability.

Metrics

SV-HL-130a.1. (1) Total energy consumed, (2) percentage grid electricity and

(3) percentage renewable

The entity shall disclose (1) the total amount of energy it consumed as an

aggregate figure, in gigajoules (GJ).

1.1

The scope of energy consumption includes energy from all sources,

including energy purchased from external sources and energy produced by

the entity itself (self-generated). For example, direct fuel usage, purchased

electricity, and heating, cooling and steam energy are all included within

the scope of energy consumption.

1.2

The scope of energy consumption includes only energy directly consumed

by the entity during the reporting period.

1.3

In calculating energy consumption from fuels and biofuels, the entity shall

use higher heating values (HHV), also known as gross calorific values

(GCV), which are measured directly or taken from the Intergovernmental

Panel on Climate Change (IPCC).

The entity shall disclose (2) the percentage of energy it consumed that was

supplied from grid electricity.

2.1

The percentage shall be calculated as purchased grid electricity

consumption divided by total energy consumption.

The entity shall disclose (3) the percentage of energy it consumed that was

renewable energy.

3.1

Renewable energy is defined as energy from sources that are replenished

at a rate greater than or equal to their rate of depletion, such as

geothermal, wind, solar, hydro and biomass.

IFRS S2 INDUSTRY-BASED GUIDANCE

3.2

The percentage shall be calculated as renewable energy consumption

divided by total energy consumption.

3.3

The scope of renewable energy includes renewable fuel the entity

consumed, renewable energy the entity directly produced and renewable

energy the entity purchased, if purchased through a renewable power

purchase agreement (PPA) that explicitly includes renewable energy

certificates (RECs) or Guarantees of Origin (GOs), a Green‐e Energy

Certified utility or supplier programme, or other green power products

that explicitly include RECs or GOs, or for which Green‐e Energy Certified

RECs are paired with grid electricity.

3.3.1

For any renewable electricity generated on-site, any RECs and GOs

shall be retained (not sold) and retired or cancelled on behalf of the

entity for the entity to claim them as renewable energy.

3.3.2

For renewable PPAs and green power products, the agreement shall

explicitly include and convey that RECs and GOs be retained or

replaced and retired or cancelled on behalf of the entity for the

entity to claim them as renewable energy.

3.3.3

The renewable portion of the electricity grid mix outside the

control or influence of the entity is excluded from the scope of

renewable energy.

3.4

For the purposes of this disclosure, the scope of renewable energy from

biomass sources is limited to materials certified to a third-party standard

(for example, Forest Stewardship Council, Sustainable Forest Initiative,

Programme for the Endorsement of Forest Certification or American Tree

Farm System), materials considered eligible sources of supply according to

the Green-e Framework for Renewable Energy Certification, Version 1.0 (2017) or

Green-e regional standards, or materials eligible for an applicable

jurisdictional renewable portfolio standard.

The entity shall apply conversion factors consistently for all data reported under

this disclosure, such as the use of HHVs for fuel use (including biofuels) and

conversion of kilowatt hours (kWh) to GJ (for energy data, including electricity

from solar or wind energy).

Water Management

Topic Summary

Hotel buildings require a relatively large amount of water resources to operate. Although

water is not the industry’s greatest operating cost, reduced water availability or

significant price increases could affect financial results. This effect may be particularly

acute in water-stressed regions because of supply constraints. Entities in the industry are

implementing water management best practices to reduce operating expenses and

environmental impacts and to improve their brand value with guests, who increasingly

are concerned about environmental sustainability.

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

Metrics

SV-HL-140a.1. (1) Total water withdrawn, (2) total water consumed; percentage of

each in regions with High or Extremely High Baseline Water Stress

The entity shall disclose the amount of water, in thousands of cubic metres,

withdrawn from all sources.

1.1

Water sources include surface water (including water from wetlands,

rivers, lakes and oceans), groundwater, rainwater collected directly and

stored by the entity, and water and wastewater obtained from municipal

water supplies, water utilities or other entities.

The entity may disclose portions of its supply by source if, for example, significant

portions of withdrawals are from non-freshwater sources.

2.1

Fresh water may be defined according to the local laws and regulations

where the entity operates. If no legal definition exists, fresh water shall be

considered to be water that has less than 1,000 parts per million of

dissolved solids.

2.2

Water obtained from a water utility in compliance with jurisdictional

drinking water regulations can be assumed to meet the definition of fresh

water.

The entity shall disclose the total amount of water, in thousands of cubic metres,

consumed in operations.

3.1

Water consumption is defined as:

3.1.1

Water that evaporates during withdrawal, use and discharge

3.1.2

Water that is directly or indirectly incorporated into the entity’s

product or service

3.1.3

Water that does not otherwise return to the same catchment area

from which it was withdrawn, such as water returned to another

catchment area or the sea

The entity shall analyse all its operations for water risks and identify activities

that withdraw and consume water in locations with High (40–80%) or Extremely

High (>80%) Baseline Water Stress as classified by the World Resources Institute’s

(WRI) Water Risk Atlas tool, Aqueduct.

The entity shall disclose water withdrawn in locations with High or Extremely

High Baseline Water Stress as a percentage of the total water withdrawn.

The entity shall disclose water consumed in locations with High or Extremely

High Baseline Water Stress as a percentage of the total water consumed.

IFRS S2 INDUSTRY-BASED GUIDANCE

Climate Change Adaptation

Topic Summary

Hotels operating in climate change-exposed areas may be impacted by physical climate

risks including inclement weather and flooding. Inclement weather may damage

property and disrupt operations, thereby reducing asset values and revenues. In addition,

hotels may face higher insurance premiums for buildings located in coastal regions or

may be unable to insure their properties. Hotel operators will likely need to adapt to

shifting climate trends such as rising sea levels, hurricanes, and flooding in order to

maintain their climate-exposed revenue-generating properties.

Metrics

SV-HL-450a.1. Number of lodging facilities located in 100-year flood zones

The entity shall disclose the number of its lodging facilities that are located in

100-year flood zones.

1.1

100-year flood zones are defined as land areas subject to a one-percent or

greater chance of flooding in any given year. Such areas may also be

referred to as being subject to the one-percent annual chance flood, the

one-percent annual exceedance probability flood, or the 100-year flood.

1.1.1

Examples of 100-year flood zones may include, but are not limited

to, coastal flood plains, flood plains along major rivers, and areas

subject to flooding from ponding in low-lying areas.

The scope of disclosure shall include all of the entity’s lodging facilities that are

located in 100-year flood zones, regardless of the country of their location.

IFRS S2 CLIMATE-RELATED DISCLOSURES–JUNE 2023

Columbus Building

7 Westferry Circus

Canary Wharf

London E14 4HD, UK

Tel

+44 (0) 20 7246 6410

Email sustainability_licensing@ifrs.org

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