Withers and EEA join forces to promote ESG in hospitality
International law firm Withers is partnering with the Energy & Environment Alliance (EEA) to promote the adoption of environmental, social and governance (ESG) data as part of asset due diligence within the hospitality sector.
Withers' commercial real estate team is working with EEA, a not-for-profit coalition of hospitality leaders, on ways to encourage the use of standard reporting criteria which make ESG a consistent element of commercial real estate due diligence in the sector. Through changes in the standard due diligence toolkit, Withers and EEA aim to promote common ESG reporting standards within the industry.
There's still some way to go before ESG becomes a standard part of basic asset due diligence, but the tide is shifting. The importance of capturing information regarding key ESG indicators is being recognised by stakeholders across the industry. Helping to standardise the process of reporting reinforces positive behaviour in the sector and elevates ESG factors. Tom Hughes, partner in Withers' UK commercial real estate team
An unstoppable wave of new regulation on ESG and net zero carbon is coming, which will begin to make a substantial impact on the value of real estate assets. I am delighted that Withers, which acts on behalf of many extremely influential private investors, will be helping to create and promote common, global standards. Doing that will help improve transparency and reduce the cost of compliance, which will benefit everyone in the hospitality sector. Ufi Ibrahim, CEO of EEA
Withers' global Real Estate team is recognised for its work with closely held business and private capital clients across the full range of property asset classes and for providing a truly integrated service.
About Withers
Withers is an international law firm with a broad-ranging client base including multinational corporations, governments, international institutions and individuals and their businesses.
With over 220 partners and more than 650 other lawyers, we have unparalleled expertise in commercial, tax, trusts, estate planning, financial services, litigation and international arbitration, public international law, real estate, charities, philanthropy, employment, family law and other legal issues facing individuals and their families. The firm has advised 66% of the top 100 UK Sunday Times Rich List, 25% of the Forbes 400 List, 35% of the Hong Kong Forbes Rich List, and 35% of Forbes Asia's Richest Families list.
Withers has 17 offices worldwide in London, New York, New Haven, Greenwich (Connecticut), Boston, San Francisco, San Diego, Los Angeles, Texas, Hong Kong, Singapore, Tokyo, the British Virgin Islands, Geneva, Milan, Padua and Cambridge.
For more, visit withersworldwide.com.
About the Energy & Environment Alliance (EEA)
The Energy & Environment Alliance (EEA) is a not-for-profit coalition of hospitality investors, developers, asset managers and operators, working as a collective to transition the industry to Net Zero Carbon and ESG stewardship in a scientifically robust and commercially sustainable way.
