46% of Travel Firms to Boost ESG Investment in 2024 With Tech Focus
Following the conclusion of COP28 in Dubai, global attention has shifted towards the imperative actions required to promote a more sustainable world.
In parallel with international sustainability targets, travelers are increasingly vocal in their demand for travel experiences that align with their personal values and sustainability expectations.
In light of these developments, Amadeus conducted a comprehensive research study involving 896 senior sustainability decision-makers spanning nine different markets and seven segments within the travel industry. This initiative sought to gain valuable insights into the ambitions, priorities, and challenges related to Environmental, Social, and Governance (ESG) considerations.
The study uncovered a sense of optimism within the global travel industry regarding its ability to achieve the UNWTO-proposed objective of reaching net zero emissions by 2050. An impressive 89% of ESG decision-makers expressed confidence in the industry’s capacity to meet this target. Among this group, 36% believed that it could be accomplished without significant adjustments, while 53% acknowledged the feasibility of the goal but emphasized the need for an urgent acceleration of progress.
Central to this endeavor is a strong emphasis on taking action. An overwhelming 90% of survey participants reported either having a well-defined step-by-step strategy in place to support their environmental sustainability objectives or plans to implement one by 2024. Furthermore, an impressive 94% of respondents were actively engaged or intending to participate in social sustainability initiatives that extend beyond the boundaries of their own organizations. This commitment to sustainability was mirrored by a commitment to increased investment, with 46% of respondents anticipating higher investment levels in 2024 compared to the previous year.
Source : Travel and Tour World
