To address its environmental impacts, Accor has established a program called PLANET21, which details 21 commitments to environmental performance improvements by 2015, in areas such as energy and water consumption. Accor has also committed to increasing the proportion of hotels that have environmental management systems certified to the ISO 14001 standards, and has set several objectives for further reducing energy consumption and waste generation. Given the large number of properties owned by Accor, green building and interior design represent excellent opportunities for reducing environmental impacts.
While Accor was a founding member of a research group that produced a report on sustainable construction, the company has yet to document any significant achievements of its own. Portfolio 21 has asked Accor to make improvements in this area.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 1/31/13 and may not reflect current opinions or subsequent events.