In Focus: The reality is, time is of the essence for ESG

Brightcove Video

The IHIF journey continues as we dive into just some of the sessions which discussed ESG. Last week we covered corporate travel and next week we will take a look at resorts and leisure. 

The topics of sustainability, environmental, social, governance, diversity and inclusion featured in almost every session at this year’s conference. This is no longer an inspirational theme or a trend in the industry but simply business and there was a real sense of urgency as we heard from businesses across all sectors of the industry.  

“The reality is that we are all on a steep learning curve when it comes to ESG” said Ibrahim and “as legislations and regulations are quickly approaching for all aspects of the industry, time is most certainly of the essence.”
Kellett added that “the risk lies in not doing it”, as investors will not be investing in assets that don’t comply with regulations in the very near future. 

Here’s hoping in the next few years the CEO panel will include a female presence added the current global CEOS from Radisson, Choice, Minor and Best Western, who are confident that their businesses include a diverse balance of female and minority groups, but that there is still an issue in the industry and a lot of work to be done. There are challenges in terms of female ownership as well, as Pacious said, “in the US that figure is only 7%”.
Chandnani and Thomas spoke about social initiatives their groups are working on to bring revenue back to local communities, collaborating with local vendors and considering life outside the hotels as well.

If you attended the event, you can view all of these sessions in full over here. We will continue to cover the main topics here on Hospitality Insights. 
Continue the journey with us on our upcoming events R&R and AHC