On June 7, 2017, Brian Macnamara, SVP & Corporate Controller; Rick Werber, SVP Engineering & Sustainability; and Michael Chang, Director of Energy & Sustainability gave a presentation to The SASB Foundation Board of Directors about Host Hotels & Resort’s leadership in using SASB standards in its 2016 Form 10-K filing. The Sustainability Accounting Standards Board (SASB) establishes sustainability accounting standards that are designed to help companies disclose material sustainability information to investors.

 

During the presentation, Host discussed why the company elected to start using SASB standards. As the leading framework for sustainability reporting standards in financial disclosures, following the SASB standards allowed the company to tell its compelling energy and water reduction story. Host disclosed energy and water consumption and intensity metrics for the past three years which showed a significant year over year reduction. "The decline in energy and water usage translates into lower operating costs and supports our corporate responsibility goals," Mr. Macnamara said. “Our shareholders have the right to expect that we are making smart sustainability investments that drive long-term improvements in operating performance.”

 

Host also shared key learnings about the implementation process, addressing risks associated with sustainability reporting metrics and the necessity of ensuring high-quality reporting consistent with traditional financial performance reporting standards. By learning about Host’s experience, The SASB Foundation Board can better understand how to encourage broader use of SASB standards.

 

Host was one of two REITs that incorporated these metrics into its Form 10-K and the first company to ever present to the Board. The SASB Foundation Board is chaired by Michael Bloomberg (Founder, Bloomberg LP) and vice chaired by Mary Schapiro (Former Chair, the SEC) and Robert Steel (CEO, Perella Weinberg Partners).

 

Read more about how Host is setting an example for integrating sustainability reporting with financial reporting in CFO Magazine's article "Green Reporting Takes Root."