Mumbai, 5th June 2024: Chalet Hotels Limited announces its commitment to achieving Net-Zero Greenhouse Gas (GHG) Emissions by 2040, aligning with the Paris Agreement’s goal to limit global temperature rise to 1.5°C. This announcement was made today, on World Environment Day, a day led by the United Nations Environment Programme (UNEP) and celebrated since 1973, which this year focuses on land restoration, desertification and drought resilience.

Chalet Hotels Limited also unveils its commitment to the SBTi, aiming to validate its near-term (2030) and long-term (2040) GHG emissions reduction targets. This reflects the company’s dedication to driving decarbonization and operational efficiency across its operations and value chain to achieve Net-Zero GHG Emissions by 2040. The Net Zero transition will ensure environmental resilience across Chalet Hotels’ footprint and contribute to the UN Decade on Ecosystem Restoration and Sustainable Development Goals.

The company has conducted a comprehensive analysis of its GHG Emissions profile across Scope 1, 2, and 3 emissions to develop a robust GHG Emissions Inventory. In the baseline year of 2023, the company recorded Scope 1 and Scope 2 emissions at 5,374 and 14,136 tCO2e, respectively, with Scope 3 emissions accounting for over 50% of total emissions. By FY 2024, Chalet Hotels had achieved reductions in energy and water intensity by 16% and 17%, respectively, compared to FY 2020.

Leveraging its GHG Emissions profile, Chalet Hotels has projected future emissions based on forecasted business growth, including the number of keys and the compound annual growth rate (CAGR). In alignment with the Science Based Targets initiative (SBTi), the company has defined a comprehensive decarbonization pathway. This pathway includes increased use of renewable energy, replacement of fossil fuels with alternative or low carbon fuels, adoption of electric vehicle transportation, supplier engagement, procurement of low carbon or recycled products, and investment in low emission technologies.

“As India progresses towards its 2070 Net Zero goal, Chalet Hotels continue to integrate sustainability into its ethos and strategy, ensuring minimal environmental impact and fostering positive economic, social and natural outcomes. Our commitment to the Net Zero goal is well thought out and is aligned with the nation’s path to carbon neutrality. We intend to get to Net Zero through collaboration with our guests, partners, colleagues and communities.”

Sanjay Sethi, Managing Director and CEO of Chalet Hotels Limited,

Chalet Hotels’ commitment to Net Zero marks a significant step towards environmental resilience and sustainability, contributing to global efforts to mitigate climate change.

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