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Only 2 hospitality groups in WSJ top 100 sustainable companies list

Melia International Nha Trang

Only two hospitality companies have made the top 100 sustainable companies in 2020 in a new ranking by The Wall Street Journal.

The Wall Street Journal looked at more than 5,500 businesses to compile the top 100 list. The list used an expansive view of sustainability. It looked at business models, innovation, external social and product issues, employee issues as well as the environment.

It also evaluated objective measures of performance as well as assessing whether the company’s leadership and governance practices can create value for shareholders long term.

Out of these top 100 companies, the only hospitality companies were Genting Group and Meliá Hotels International, Skift reports.

Meliá Hotels International ranked seventh

Seventh in the list is the Spanish based Meliá, which owns over 370 hotels in over 40 countries.

For Gabriel Escarrer, Vice President and CEO of Meliá Hotels International, sustainability is at the core of the business. He explained that the management model of the company is designed to make “sustainability an intrinsic part of the business…given the need for companies to generate a positive impact on society ad the planet.”

Genting Group ranked fourteenth

Genting Group is based in Kuala Lumpur, Malaysia, and ranked in 14th place on the list. The company frequently reports a “triple bottom line”. This covers the financial, environmental and social impact of the company.

Genting Group is also careful to train its staff to conserve the biodiversity of areas around its properties. They are also trained to use water and fuel efficiency.

Dato Sri Lee Choong Yan, President, COO and Executive Director of Genting Malaysia said that the company “has made environmental protection and preservation an integral part of its corporate philosophy and business policy since its incorporation”.

Sony takes the top spot

Sony took the first spot after Chief Executive Kenichiro Yoshida took over in 2018 and made sustainability his priority for the company. Sony became dedicated to being a part of the solution for sustainability risks in general, not just for the company.

Genting Singapore recently announced that due to the impact of COVID-19 on construction, the $4.5 billion Resorts World Sentosa expansion will be delayed.

Meliá Hotels International has signed an agreement to build two luxury hotels in Vega City, Nha Trang, Vietnam.

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Image: Melia Hotels International, Vega City

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Alice Sarsfield-Hall

Alice is Sales and Events Manager and looks after Blooloop’s clients, new business and events. She studied English Literature and French at the University of Leeds. A Disney and Harry Potter geek, you can usually find her reading, baking or at a museum.

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