Commercial Empire.- When the delegates return COP28 In Dubai, the global focus is on the actions needed to foster a more sustainable world.
With global destinations, travelers are increasingly demanding that travel experiences align with their sustainability values and expectations.
Against this backdrop, Amadeus commissioned a survey of 896 senior sustainability decision makers across nine markets and seven segments of the travel industry to gain insight into ESG ambitions, priorities and challenges.
The study revealed that the global travel industry is confident of meeting the UNWTO’s proposed goal of reaching net zero emissions by 2050. 89% of ESG decision makers believe the sector can achieve its objective. Of that 89%, 36% believe it can be achieved without any changes, and 53% believe it is possible, but that progress must be accelerated urgently.
The key to this is focus on action. 90% of respondents have a step-by-step strategy that will help them achieve their environmental sustainability goals or plan to implement one by 2024. 94% of respondents participate or actively plan to participate in social sustainability initiatives outside of your organization. This commitment is accompanied by an increase in investment: 46% of respondents plan to invest more in 2024 than last year.
Despite the optimism, the study identified barriers to environmental, social and governance initiatives:
– 40% cited cost as the biggest barrier to environmental commitments, followed by lack of technology and knowledge (30%), as well as managers’ involvement (25%).
– Regarding social initiatives, the biggest barriers are lack of technology (32%), costs (31%), lack of knowledge (28%) and acceptance by managers (27%).
– Regarding management initiatives, the most important barriers are lack of knowledge (31%), cost (31%), lack of technology (29%) and acceptance by management (25%).
Data from travel vendors
46% of travel marketers have a step-by-step plan and 39% plan to implement a plan. Top ESG priorities for travel retailers:
Sustainability and social impact of the travel and tourism industry (25%)
– Health, safety and well-being of employees (24%)
– Employee development, learning and development (21%)
93% of travel marketers who make ESG decisions believe technology will be critical to achieving their goals.
Creative AI interfaces, access to data to personalize all stages of the journey, and advanced search capabilities were selected by 33% as technologies with the greatest potential to accelerate the achievement of environmental sustainability goals. In this sense, business travel agencies were more receptive to generative AI (37% selected) than leisure travel agencies (28%). Regarding social sustainability, 39% say technology will improve access to travel by integrating technology into travel.
Although travel vendors are optimistic, more guidance is needed on cross-regional standards (selected by 45%), sustainability-related regulations (40%) and carbon emission calculation methods (39%).
In particular, the study highlights the clear and recognized role of technology in helping the sector achieve its objectives. 92% of respondents said technology is important for organizations to achieve environmental sustainability goals, and 91% for social goals. Artificial intelligence and virtual reality are particularly important:
– 33% of respondents highlighted AI initiatives to develop as a technology with the greatest potential to accelerate environmental sustainability, as it can guide travelers towards more sustainable options throughout their journey.
– 31% said technologies that enable improvements in operational efficiency and access to data for true personalization will be critical.
– 38% said social progress could be helped by improving travel accessibility through integrated access technology on public transport, at the airport or on the plane.
Ultimately, there is still work to do to meet the sector’s sustainability aspirations; 37% of ESG decision makers recognize that greater access to technology solutions is essential. Those who felt it was not possible to accomplish their objectives within the established time frame highlighted the need for greater collaboration across the sector (33%).
„As the travel industry continues to grapple with the complexity of meeting ESG goals, I am encouraged by the confidence and commitments made, from investments to strategic planning and technology solutions. At Amadeus, we are working to integrate ESG into the core of our business, supporting travel players on a path to greater performance and more informed decisions. helps travelers take in. „Together, we can make travel more sustainable,” he says. Jackson Beck, SVP Y Group General Counsel, Amadeus.