Centara Achieves Four ESG Milestones, Leading the Way in Sustainable Hospitality

Tuesday, Feb 20, 2024 0

Leading hotel operator shines in commitment to environmental, social, and governance (ESG) principles

Centara Hotels & Resorts, Thailand’s leading hotel operator, is proud to announce four remarkable sustainability achievements that underscore its commitment to environmental, social, and governance (ESG) excellence. In 2023, Centara Hotels & Resorts achieved an ‘A’ rating in the MSCI ESG Ratings, secured its sixth consecutive recognition on the SET ESG Ratings list (formerly THSI), including its first ‘A’ ranking, earned the Sustainability Disclosure Recognition from the Thaipat Institute for the fourth consecutive year, and will be included in the S&P Global Sustainability Yearbook 2024.

As part of the TRT Hotels, Resorts & Cruise Lines Industry, Central Plaza Hotel Public Company Limited [CENTEL], Centara’s parent company, has been recognised as an ‘Industry Mover’ in the S&P Global Sustainability Yearbook 2024 for its exceptional sustainability practices. This prestigious recognition spotlights companies that have achieved at least a five percent increase in their S&P Global 2023 Corporate Sustainability Assessment (CSA Score) and demonstrated the strongest improvement within their industry. CENTEL achieved a CSA Score of 60/100, marking a twelve-point rise from the previous year and positioning the company in the top 15% of its industry. This score was part of the S&P Global 2023 CSA assessment, which covered 62 industries, and 9,400 companies, and analysed 174,000 documents along with 16.5 million data points.

Central Plaza Hotel Public Company Limited [CENTEL], Centara’s parent company, achieved an outstanding ‘A’ rating in the MSCI ESG Ratings assessment, a testament to its robust ESG practices. MSCI ESG Research, a globally recognised authority, provides in-depth research, ratings and analysis of the ESG-related business practices of thousands of companies worldwide, and evaluates companies on a scale from AAA to CCC based on their exposure to industry-specific risks and their ability to manage these risks relative to peers. This rating reinforces Centara’s position as a leader in the hospitality industry, where sustainability is a core focus and a driving force in its operations, ensuring a positive impact to communities and guests around the world.

For the sixth consecutive year, Centara made the Thailand Sustainability Investment (THSI) list, now known as the SET ESG Ratings, with 2023 marking the first year the company received an ‘A’ ranking for this accolade. These high-profile ratings are an esteemed recognition presented by The Stock Exchange of Thailand (SET) highlighting the ongoing efforts of businesses to integrate sustainability into their business strategy, fostering long-term value for stakeholders and contributing to environmental and societal well-being. Centara is one of 193 companies out of a total 262 participants to receive this honour.

Centara Hotels & Resorts has also been awarded the Sustainability Disclosure Recognition from the Thaipat Institute for the fourth consecutive year, standing among the 54 recipients of this prestigious honour. The award emphasises the importance of transparency and reporting operational data regarding ESG issues, aligning with sustainable development goals (SDGs), and ensuring stakeholders are well-informed about sustainability initiatives.

Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, stated, “These esteemed accolades are a testament to our commitment and passion for sustainability. We believe that responsible business practices not only contribute to our success but to a better future for all. We will continue to prioritise environmental sustainability and responsibility in our operations, striving for excellence and innovation in every aspect of our business.”