After joining Climate Group’s RE100, EP100, and EV100 projects, Chalet Hotels’ stock climbed 2.53 percent to Rs 188.25
On September 21, Chalet Hotels Limited (CHL) announced that it had become the first hospitality company in the world to join Climate Group’s renewable energy, energy efficiency, and electric mobility projects. Climate Group’s RE100, EP100, and EV100 projects, which focus on renewable energy, energy efficiency, and electric mobility, have attracted over 500 companies from around the world. According to a company release, over 25 promises have come from companies based in India.
The news comes during Climate Week NYC 2021, one of the world’s largest climate conferences, which will feature prominent businesses and governments showcasing climate action. Climate Group’s RE100, EP100, and EV100 projects have attracted over 500 companies from around the world. Chalet Hotels’ goals under Climate Group’s three projects include (Renewable Electricity) RE100, which calls for all of the company’s properties to use 100 percent renewable energy by 2031. According to the corporation, non-fuel-based energy sources such as solar, wind, and hydropower already account for 51 percent of total power demand throughout the hotel portfolio, or 13270 MWh.
Chalet Hotels has stated that by 2029, it intends to double its revenue per unit of power consumption, using 2016 as a baseline year. By 2025, all cars utilised for guest transportation across the portfolio will be converted to electric vehicles, according to the firm. “We’ve made a clear commitment to conduct our business responsibly, and I’m thrilled that we’ve joined the Climate Group’s projects. This aligns with our broader goal of generating great shareholder value by providing long-lasting experiences for our visitors, customers, coworkers, and communities. Sanjay Sethi, MD and CEO of Chalet Hotels Ltd, stated, “As we go forward to create impactful outcomes on our core emphasis areas, we remain committed to establishing a more sustainable eco-system.”
CHL’s hotel platform has seven active hotels in the Mumbai Metropolitan Region, Hyderabad, Bengaluru, and Pune, as well as a hotel with a co-located serviced house. Climate Group is a non-profit organisation based in London, New Delhi, and New York.