A World for Travel forum 2022: Leaders in travel and tourism Continued from page 56


environmental risks and regulatory risks [when investing]. Now they come up every time.” Sebastian Manceau, senior


partner at management consultancy Roland Berger, agreed, saying: “Sustainability was a small paragraph at the end of a report [to investors]. Now it’s a huge part. Environmental and social governance [ESG] is now systematically important.” He argued: “Not many


companies have a strong ESG agenda. Travel is a long-term, growing sector. There is an opportunity for companies to differentiate themselves by having a strong ESG agenda.” Henry Briance, partner at


private equity firm Certares, told the forum: “There are multiple capital sources looking to make investments in good companies and good projects in the sector.” Cserep noted the industry


attracted “almost a frenzy” among investors before the pandemic “with a huge amount of capital chasing a few opportunities whenever an acquisition became available”. She argued: “Covid exposed


that. The perspective on the industry has changed – there is no getting away from that. But the economic positives exceed the downsides. There is no shortage of money.” The forum identified


five priorities for action by industry leaders, associations and governments in the next 12 months: cross-sector collaboration, strong state and regulatory support, clear communication to raise awareness, investments “at scale”, and systematic


measuring and reporting. i aworldfortravel.org


Leaders call for common standards on carbon data


Leaders in travel and tourism sustainability called for standardisation of carbon emissions measurement and reporting across the industry at the A World for Travel forum in Nîmes. Lucas Bobes, Amadeus group


environmental officer, told the forum: “Travellers can get very different carbon calculations [for flights]. We have to agree a standard of certification for the industry.” Randy Durband, chief executive


of the Global Sustainable Tourism Council (GSTC), argued: “There are very different businesses so we need different approaches, but we need common standards. We’re all interested in measurement. We need to start with carbon, agree a standard, then move on.” He pointed out: “Only some


30,000 hotels are using sustainability measures now. We need every hotel using them. We’ve spent years developing a certification system [at the GSTC]. Now we’re moving to targets [for certification] because the technology is there.”


‘Corporate travel committed to sustainable revival’


Corporate travel is not expected to return to pre-pandemic levels of spending “until 2026”, according to Global Business Travel Association (GBTA) regional vice-president Catherine Logan, but she told the forum: “There is a real drive for it to come back sustainably.” She noted a GBTA survey earlier this year found 89% of industry


54 3 NOVEMBER 2022


Randy Durband


European Travel Commission


head of public affairs Teodora Marinska told the forum: “Carbon offsetting didn’t really take off because we have way too many options to offset in the market for someone who is not an expert. There is a lack of consumer trust. More transparency would help.” She suggested: “We could design


a standard for consumers to compare and channel offsetting funds to new technologies, to fund carbon capture and to make sustainable fuels.” Hilary Matson, founder of US sustainable travel booking platform


respondents saw sustainability as “essential”, 80% reported having a sustainability programme and 76% planned to incorporate sustainable practices into travel policies. However, 36% of respondents


and 57% of external stakeholders consulted reported business travel is “only slightly” or “not at all advanced” on sustainability. Almost two-thirds (63%) of


GBTA members reported a lack of emissions data as the biggest barrier to sustainability. They also identified cost,


regulatory uncertainty and the lack of harmonisation on standards


Catherine Logan


as barriers to advancing. Kit Brennan of carbon


calculator and offset platform Thrust Carbon noted: “There can be a variance of 55% between calculations of the carbon footprint of a trip at the moment.”


travelweekly.co.uk


Yugen Earthside, agreed: “There is confusion about carbon offset schemes. Planting a tree is not very effective. It’s hard to educate travellers and we can’t rely on leisure travellers to solve this problem.” Matson argued: “The problem


isn’t going to be solved by individuals. Regulation would be more effective and collaboration between large companies, especially airlines, and governments. “Governments could require


sustainable aviation fuel be used, flights be offset [and] companies move to net zero.” Kit Brennan, founder and director


of Thrust Carbon, which offers carbon calculators and offsetting, warned: “Regulations will become stricter as the climate crisis gets worse. Companies will need to get to net zero. The question is how.” However, he said: “Calculating


carbon for a flight need not be difficult. All you need is the fuel burn. But airlines don’t share their fuel burn on all routes. Government regulation is needed.”


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