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Green investment programme for Pandox-operated hotels

Between 2019 and 2023 Pandox implemented two green investment programmes focusing on energy efficiency in its own hotel operations. In 2023 Pandox's Board of Directors decided on an investment programme for climate change of approximately MEUR 29 with the aim of achieving the emission targets for Scope 1-2

The first Green Investment Programme focused on energy and water reduction measures and technology installations, such as building monitoring systems with integrated sub-meters. All hotels in the programme have these property monitoring systems to manage the property in a more climate-smart way.

These programmes were completed in 2023 and aimed to reduce gas consumption by 21%, electricity by 25%, water by 23% and CO2 by 18%. The outcome was a reduction of 18% in gas, 19% in electricity, 24% in water and 20% in CO2. The reason for not achieving the targets for gas and electricity is due to delays in installing two building management systems, and renovating a boiler room. This will be completed in 2024.

Increased investment programmes

For the Own Operations business segment (Scope 1 and 2), the Board of Directors approved during the year a climate change adaptation programme of approximately EUR 29 million for eight properties. The programme includes the phasing out of gas and oil, energy efficiency and an increased share of renewable energy. When the project is completed in 2027, Pandox is expected to be in a good position to achieve the science-based emission targets for Scope 1 and 2 and generate annual savings of around EUR 3 million.

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BREEAM

Pandox certifies its properties to BREEAM, which is an established standard in Europe for green properties. The certification process involves assessment and a scoring system in the following areas: Energy, Transport, Water, Materials, Pollution, Health and Wellbeing, Land Use & Ecology, Management.

Certifications

Pandox’s ambition is for all of the hotels in Operator Activities to have Green Key certification unless they already have another environmental certification. 

Our properties

Pandox hotel property portfolio comprises 157 hotell with around 35 000 hotel rooms in 15 countries. The hotels are operated under different types of agreements with well known hotel brands. Pandox has also created several independent brands. The business is operated in two segments Operator activities and Property management.