Company Profiles

Accor

France

Accor is one of the world's leading hotel operators, with over 4000 locations in nearly 100 countries. To address its environmental impacts, Accor has established an Environmental Charter. The charter serves as the company's environmental policy and includes 65 actions intended to help protect natural resources, address climate change, reduce waste, and promote energy efficiency. While compliance with the charter is not mandatory, Accor encourages individual locations to target the actions best suited to its priorities or areas of greatest impact. Once a minimum number of actions are implemented, the hotel is entitled to promote its environmental commitment and achievements. To date, a majority of Accor's hotels have completed, if not surpassed, the minimum number of actions. Accor has also committed to increasing the proportion of its hotels that have environmental management systems certified to the ISO 14001 standards, and has set several objectives for further reducing energy consumption and waste generation. Given the large number of properties owned by Accor, green building and interior design represent excellent opportunities for reducing environmental impacts. While Accor was a founding member of a research group that produced a report on sustainable construction, the company has not yet documented significant achievements of its own. Portfolio 21 has asked Accor to make improvements in this area.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/30/07 and may not reflect current opinions or subsequent events.