Following the previous article about ecologic obsolescence, this article presents the sustainability performance and initiatives in the hospitality industry. Commonly known as ESG (Environmental, Social and Governance), which covers a wide range of key performance indicators (KPIs) in corresponding aspects, such as green house gas (GHG) emissions, stakeholder engagement and people management. Amid the COVID-19 outbreak, environmental and social issues received increasing attention, and ESG disclosure became a critical indicator of corporates being good citizens and neighbors. This article provides an overview of how the six major casino operators in Macau disclose their ESG performance in 2020 and reviews the quality of their reporting with recommendations for future reporting. The full article is available for download here!
Casino operators covered in the article include Galaxy Entertainment Group ("GEG"), Melco International ("Melco"), MGM China ("MGM"), Sands China ("Sands"), SJM Holdings ("SJM") and Wynn Macau ("Wynn"). All 6 casino operators in Macau reported their ESG and sustainability commitments in 2020 as part of their annual reporting; some of them also submitted their performance to CDP, a not-for-profit organization dedicated in global benchmarking of environmental reporting for year 2020 and 2021.
Four major environmental KPIs are compared in this article, including emissions, consumption of energy and water, and waste generation and mitigation.
Social sustainability, on the other hand, covers a wide range of metrics, including workforce profile, employee engagement, and community engagement.
Reporting Benchmarking (2020)
Overall, all six operators have their own strengths and weakness in different ESG topics under both GRI standards and HKEX Reporting Guide, and it provides readers and operators a better understanding of ESG reporting quality by category.
Lastly and most importantly, this article reviews the quality of the ESG reporting of casino operators in Macau, and it can help to enhance their performance and encourage more detailed disclosure in the future.
Download the full article here.