Accor, Comcast, and Expedia Group Among Leading Companies Focusing on ESG in Travel and Tourism Industry | GlobalData Plc
The pandemic has acted as a catalyst for increased action on ESG issues
LONDON, July 21, 2022 (GLOBE NEWSWIRE) -- The “ESG (Environmental, Social, and Governance) in Travel and Tourism – Thematic Research” report offered by GlobalData Plc provides an overview of ESG in travel and tourism. The report also includes outlines of how the need for high levels of ESG performance from stakeholders is met by companies. Moreover, it contains highlights of travel and tourism companies that are leading in this theme.
According to the thematic intelligence report published by GlobalData, 56% of global respondents stated they ‘somewhat’ or ‘completely’ agree that they are more loyal to brands that support green and environmental matters, and 54% echo this sentiment for brands that are loyal to human and social rights matters. These strong percentages suggest that companies with transparent ESG strategies, which can demonstrate positive work to address environmental and social issues, could win the loyalty of travelers that may be undecided on which company to use for a specific aspect of their trip. Transparency on ESG matters will not only appease consumers, but it is also a requirement for several other stakeholders and potential future ones.
Key Trends Impacting the ESG Theme in the Travel and TourismIndustry
Technology Trend: Most aircraft are currently powered by fossil jet fuels, which harm the environment. Sustainable aviation fuels (SAF) are seen as a sustainable alternative that could significantly improve the environmental performance of airlines. These fuels are produced from waste oils of biological origin, agricultural residues, or non-fossil CO2, and have a drastically reduced environmental impact. While government funding for SAF will be vital in promoting SAF’s future affordability, some airlines are taking proactive steps to adopt SAF and gain a competitive advantage over their competitors.
Macroeconomic Trend: The pandemic created sudden changes in traveler preferences and behaviors. For example, many travelers across the globe swapped trips to busy metropolitan destinations for open rural areas that are less populated. Due to this change, there is more interest in holidays that focus on spending time in the outdoors and visiting destinations that are off the beaten path. Visiting more rural areas generally makes sustainable practices easier and reduces the re-emerging threat of over tourism.
Regulatory Trend: Several companies involved in the supply of global tourism signed the Glasgow Declaration on Climate Action in Tourism during COP26 2021. Seen as the perfect time to ‘reset’ due to the downtime caused by the pandemic, major companies stated their intentions to halve their emissions by 2030 and reach net zero by 2050. Within a year of signing, all companies must provide a detailed climate action plan that describes their plans for hitting those lofty targets. There is also a requirement for signatories to collaborate and share best practices to optimize the impact of this agreement.
Industry Trend: Optimum ESG performance is now a key demand for high-net-worth travelers. Many luxury consumers perceive sustainability to be an important pillar of premium offerings, with responsible services and products reflecting quality. Many high-yielding travelers are now happy to swap luxury comforts for a more sustainable experience. Many luxury tour operators now use their ESG initiatives to attempt to create differentiation.
For more insights on other trends impacting the ESG theme in the travel and tourism industry, download a sample report
ESG in Travel and TourismValue Chains
The ESG in travel and tourism value chain consists of three main segments: government, commercial, and non-profit.
Government: Intergovernmental organizations act as an integral part of the ESG in the T&T value chain as they create legislation, frameworks, and globally agreed objectives relating to ESG matters. Commercial tourism organizations must adhere to specific pieces of legislation created by the EU. The UN’s WTO division promotes competitive and sustainable tourism policies and instruments to make tourism an effective tool for development. This shows the impact that government organizations have on companies’ ESG performance.
Commercial: Commercial travel and tourism organizations are all profit-driven companies across all sectors that now must implement ESG strategies to ensure their own operations are sustainable from a financial perspective. ESG strategies will continue to govern how business is conducted globally. Stakeholders are demanding greater transparency and action on a full spectrum of ESG issues.
Non-profit: Non-profit organizations also play a vital role in the development of sustainable tourism and the ESG performance of travel and tourism companies by partnering with them on various projects. Non-profit organizations focused on ESG aspects will often work with destinations to provide important services that contribute to economic stability and mobility.
For comprehensive insights on the value chain of theESG in travel and tourism theme, download a sample report
Leading Public Companies Associated withESG in Travel and TourismTheme
- Aéroports de Paris (now Groupe ADP)
- Air France KLM
- Booking Holdings
- Carnival Corporation
- East Japan Railway Company
- Expedia Group
- IHG Hotels & Resorts
- International Airlines Group
- Marriott International
- Royal Schiphol Group
- Walt Disney
- Wizz Air
Leading Private Companies Associated with ESG in Travel and Tourism Theme
- Deutsche Bahn
- G Adventures
- Intrepid Group
- Responsible Travel
To know more about leading companies associated withESG in travel and tourismtheme, download a sample report
ESG in Travel and TourismSector Scorecards
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our tourism sector scorecards have two screens: a thematic screen and a valuation screen.
ESG in travel and tourism is a theme that impacts many of the sectors we cover. This thematic report specifically focuses on the airlines, airports, attraction operators, lodging, rail and road transport, and travel intermediaries sectors.
- Thematic screen: Our thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
- Valuation screen: Our valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
- Overview of ESG in travel and tourism.
- Explanation of why ESG in travel and tourism will continue to grow in importance.
- Outlines of how the need for high levels of ESG performance from stakeholders is met by companies.
- Examples of what companies and organizations in the travel and tourism industry are doing in reaction to this theme, and how they create differentiation.
- Highlights of travel and tourism companies that are leading in this theme, such as Melia, Accor, Hurtigruten, Wizz Air, Walt Disney, Royal Schiphol Group, Deutsche Bahn, Expedia Group, and Carnival Corporation.
Reasons to Buy
- To understand ESG in travel and tourism, and its current and future impact on the industry.
- To assess the strategies that leading companies are adopting to attract responsible travelers.
- To identify the leading and challenging companies in this theme.
- To understand how this theme is being shaped by a range of different technology, macroeconomic, regulatory, and industry trends.
- GlobalData’s thematic research ecosystem is a single, integrated global research platform that provides an easy-to-use framework for tracking all themes across all companies in all sectors. It has a proven track record of identifying the important themes early, enabling companies to make the right investments ahead of the competition, and secure that all-important competitive advantage.
- ESG (Environmental, Social, and Governance) Top Trends by Sector – Thematic Research – Click here
- Environmental, Social, and Governance (ESG) Sentiment Polls, Q1 2022 – Thematic Research – Click here
- Environmental, Social, and Governance (ESG) Framework – Thematic Research – Click here
- Smart Cities in Travel and Tourism - Thematic Research – Click here
- ESG (Environmental, Social, and Governance) – Governance Factors – Thematic Research – Click here
ESG in Travel and TourismThemeOverview
|Key Technology Trends||Sustainable Aviation Fuels (SAF), Augmented and Virtual Reality (AR & VR), Smart Cities (IoT), and Cybersecurity|
|Key Macroeconomic Trends||COVID-19, Millennials & Gen Z, Geopolitics, and Sharing Economy|
|Key Regulatory Trends||COP26, The Paris Agreement, and The European Package Travel Directive|
|Key Industrial Trends||Premiumization, Sustainability Labels and Badges, Low-Cost Evolution, Adherence to Sustainable Development Goals (SDGs), and Awareness of Greenwashing|
|Value Chains||Government, Commercial, and Non-Profit|
|Leading Public Companies||Accor, Aéroports de Paris (now Groupe ADP), Air France KLM, Booking Holdings, Carnival Corporation, Comcast, East Japan Railway Company, easyJet, Europcar, Expedia Group, IHG Hotels & Resorts, International Airlines Group, Marriott International, Melia, Royal Schiphol Group, Walt Disney, VINCI, and Wizz Air|
|Leading Private Companies||Deutsche Bahn, G Adventures, Hurtigruten, Intrepid Group, Ponant, Responsible Travel, and Sawday’s|
What are the key technology trends impacting the ESG in travel and tourism theme?
The key technology trends impacting the ESG in travel and tourism theme are sustainable aviation fuels (SAF), augmented and virtual reality (AR & VR), smart cities (IoT), and cybersecurity.
What are the key macroeconomic trends impacting the ESG in travel and tourism theme?
The key macroeconomic trends impacting the ESG in travel and tourism theme are COVID-19, millennials & Gen Z, geopolitics, and sharing economy.
What are the key regulatory trends impacting the ESG in travel and tourism theme?
The key regulatory trends impacting the ESG in travel and tourism theme are COP26, the Paris agreement, and the European package travel directive.
What are the key industry trends impacting the ESG in travel and tourism theme?
The key industry trends impacting the ESG in travel and tourism theme are premiumization, sustainability labels and badges, low-cost evolution, adherence to sustainable development goals (SDGs), and awareness of greenwashing.
What are the key value chains in the ESG in travel and tourism market?
The key value chains in the ESG in travel and tourism market can be divided into three segments: government, commercial, and non-profit.
Which are the leading public companies associated with the ESG in travel and tourismtheme?
Some of the public companies associated with the ESG in travel and tourism theme are Accor, Aéroports de Paris (now Groupe ADP), Air France KLM, Booking Holdings, Carnival Corporation, Comcast, East Japan Railway Company, easyJet, Europcar, Expedia Group, IHG Hotels & Resorts, International Airlines Group, Marriott International, Melia, Royal Schiphol Group, Walt Disney, VINCI, and Wizz Air.
Which are the leading private companies associated with the ESG in travel and tourism theme?
The leading private companies associated with the ESG in travel and tourism theme are Deutsche Bahn, G Adventures, Hurtigruten, Intrepid Group, Ponant, Responsible Travel, and Sawday’s.
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