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After going through COVID-19, people built strong perceptions of the well-being of society. The concept of well-being is not limited to individuals' mental and physical health. It extends to how the global society can better help each other to protect the environment, share wealth, and create fairness in various perspectives. Thanks to the United Nation's 17 sustainable development goals (SDGs) for global citizens' peace and prosperity, multiple stakeholders have further stressed the importance of the environmental, social, and governance (ESG) movement.

Pages: 104

No chapter abstract available.

Pages: 17

The concept of environmental, social, and governance (ESG) was initially created for investment analysis, and its significance in the global corporate world quickly became apparent during the COVID-19 pandemic. As a metric utilized to measure a firm's effort in friendly and socially responsible activities and its governance structure, it somehow is differently interpreted in today's world of corporate business, with firms engaging in it being accused of being affiliated with a certain political party's agenda. However, there are many other terms associated with ESG regarding corporate sustainability, such as Corporate Social Responsibility (CSR). Despite these terms often being interchangeably used in the academic literature, their interpretations in the corporate business world differ, and some clarifications are required. This chapter addresses three key objectives: first, to explore the history of sustainability practices in the business world, primarily focusing on the evolution and concept development of CSR and ESG; second, to clarify the general meaning and use of the two terms in the contemporary business world; lastly, to compare and analyze how the contemporary corporate world perceives the differences between CSR and ESG.

Pages: 12

Despite the global emphasis on implementing environmental, social, and governance (ESG) principles within the food and beverage industry, the sector faces a wide range of unique challenges that hinder its progress. Climate change, for instance, negatively impacts agricultural yields and product quality, while fair trade and human rights concerns highlight ongoing social and ethical dilemmas. Additionally, waste and hazardous material management remain significant environmental challenges for companies in this sector. Compared to other industries, the food and beverage industry has been noted for its considerable lag in sustainability innovation and adoption of ESG-focused practices. This chapter provides an in-depth analysis of these challenges through an exemplary case study of the food and beverage industry. By focusing on the ESG materiality assessment of food and beverage management companies, the chapter identifies critical areas for improvement and offers important reflections to enhance ESG reporting and performance.

Pages: 14

This chapter covers operating strategies related to sustainable practices, energy and waste and water management, employee career development, engagement & well-being, and diversity, equity, and environmental, social, and governance (ESG) reporting practices in the hotel industry. Several global hotel cases will be introduced to provide guidelines for the best practices and suggest areas for innovative management strategies. These ESG practices are based on the ESG reports by Hilton, Hyatt, InterContinental Hotel Group, and Marriott International. The title of the report is namely Travel with purpose 2023 report, 2023 World of Care Highlights, Making a difference every day Responsible Business Report 2023, and 2024 Serve 360 Report: ESG progress. The selected global hotels have demonstrated a commitment to ESG initiatives by showcasing comprehensive ESG strategies. A review of the selected global hotels' ESG aspects demonstrates how these practices aim to achieve sustainability through their innovative approaches.

Pages: 16

Historically criticized for excessive consumption and environmental degradation, the luxury tourism sector is undergoing a paradigm shift. Emerging values of inconspicuous consumption, intrinsic experiential value, and sustainability are reshaping luxury tourism's approach to sustainability. Consequently, stakeholders face increasing pressure from luxury tourism and hospitality providers to address the implications of their strategies and operations' environmental, social, and governance (ESG). This chapter analyzes the driving forces behind this paradigm shift, including societal transformation, ecological challenges, and changing consumer behavior in the post-pandemic era. Through the case study of an exemplary luxury hotel group, it also explores the implementation of ESG practices within the sector. Additionally, the chapter highlights both the benefits and challenges of integrating ESG and sustainability initiatives, offering a comprehensive overview of the current state of sustainable practices in luxury tourism. Lastly, it underscores the need for a proactive approach, positioning luxury tourism as a catalyst for positive change that aligns organizational goals with environmental, community, and societal interests, ultimately transforming luxury travel into a sustainable endeavor.

Pages: 18

This chapter stresses the importance of environmental, social, and governance (ESG) strategies in the global meetings, incentives, conventions, and exhibitions (MICE) industry. As the MICE industry grows in the global market, the significance of ESG practices in each area, including ESG, is discussed. Also, the chapter provides practical examples and figures to support the uniqueness of the industry, accompanied by specific examples.

Pages: 25

This chapter covers the significance and importance of sustainable development through environmental, social, and corporate governance (ESG) strategies in the casino industry. Due to its multi-functional integrated casino resort (IR) operation characteristics, unique features of ESG practices differentiate firms to be more socially responsible, financially profitable, and environmentally supportive. This chapter introduces specific industry characteristics and operational characteristics in the casino industry and what ESG strategies and practices are employed by major IR firms in the US casino industry. From the analysis of annual reports of those major IR firms, this chapter summarizes key elements of the ESG strategies, success factors, challenges, and opportunities to provide a sustainable development model in the casino industry.

Pages: 20

No chapter abstract available.

Pages: 18

Various stakeholders increasingly demand that companies adopt environmental, social, and governance (ESG) practices. While this movement poses challenges for management, it also offers opportunities to build competitive advantages. Employees play a crucial role in business entities' sustainable growth and success. As such, employees are among the internal stakeholders who compel organizations to build ESG strategies. Therefore, employees' commitment to ESG management is critical to meeting companies' ESG goals and workplace well-being, eventually contributing to building companies' competitive advantages. This chapter focuses on understanding the interrelationships between ESG strategies and employee performance by examining the contributing roles of employee perception and attitudes toward their companies' ESG management practices. Employees who perceive their companies to engage in ESG programs feel better about their jobs and perform better at work. Positive relationships have been reported between ESG strategy and various employee performance metrics. Further, it is well supported that ESG efforts enhance employee attitudes toward their companies and eventually become the company's advocate. Employees' well-being is enhanced as they perceive their organization engages in more ESG management practices.

Pages: 44

No chapter abstract available.

Pages: 23

In the era of rapid development and advancement of digital data and technologies, the hospitality and tourism industry has implemented various technology-driven services for innovative services, digital transformation, and disruptive innovation. Corporate environmental, social, and governance (ESG) practices have become vital for enhancing digital capabilities, enabling firms to improve customer experiences, achieve ESG goals, and create new value. However, long-term technology use may lead to unintended consequences, which prompts hospitality management to embrace Corporate Digital Responsibility (CDR) as a strategic imperative for sustainable and responsible digital practices. Despite CDR's significance, research on its conceptualization and application within hospitality is still limited. By integrating digital transformation with ESG, this chapter aims to (1) discuss the critical roles and industry practices of digital transformation and ESG, (2) introduce and conceptualize CDR in the hospitality context, and (3) present theoretical and practical implications and future research agenda in the hospitality discipline. Through these objectives, the chapter addresses how hospitality firms can navigate digital trends responsibly, drive business growth, and align with broader ESG priorities.

Pages: 19

The pursuit of sustainable development has prompted organizations to adopt strategies that go beyond traditional profit-driven approaches. One such strategy gaining prominence is the creation of shared value through environmental, social, and governance (ESG) initiatives. Shared value refers to the simultaneous generation of economic value for the organization and social value for society. By integrating ESG considerations, organizations can address societal challenges while driving long-term profitability. Incorporating ethical criteria for social benefits allows firms to transition from selfish corporations to good corporations, ultimately becoming smart corporations that create value shared among multiple stakeholders. To effectively implement this strategic approach in creating shared value (CSV) model, organizations need to assess their social and environmental impacts, identifying opportunities to reduce resource consumption, minimizing waste generation, and adopt sustainable practices. In this step, integrating ESG considerations into the overall business strategy is crucial for value creation. This involves aligning ESG goals with the organization's mission, vision, and values. Organizations must actively engage with internal and external stakeholders to understand their expectations, concerns, and aspirations regarding ESG issues throughout the value creation process with ESG considerations. In this engagement, transparent and effective communication of ESG practices, progress, and outcomes is essential. Organizations should communicate their efforts to stakeholders, shareholders, and the wider public, fostering trust, credibility, and a positive reputation. Embracing this approach enables organizations to achieve sustainable development while fostering long-term profitability and societal well-being.

Pages: 92

No chapter abstract available.

Pages: 20

As we face the challenges of the polycrises, improving the sustainability of the tourism system is a critical task. Within the complex, adaptative tourism system, sustainability issues can be addressed at different scales – destinations, enterprises, and individual behaviors. Although these sustainability actions may be described in diverse ways – destinations pursuing destination stewardship, businesses undertaking corporate social responsibility (CSR) and environment, social, and governance (ESG), there are lessons to be learned across these scales. In the chapter we will examine what insights from implementing ESG in businesses may assist Destination Marketing Organizations (DMOs) implement sustainability in destination communities. After defining key terms and discussing the nature of tourism, the authors begin by considering the purpose of businesses and its role in sustainability and its relevance to the current discussion of the role of DMOs. The authors then examine how ESG reporting on risk management may be applied to destination governance, the management challenges associated with implementing ESG programs, and the importance of systematic and transparent reporting on ESG. The authors conclude acknowledging that businesses – and DMOs – must recognize that change often meets resistance and management must be prepared for pushback against ESG programs.

Pages: 25

There has been an abundance of academic literature on sustainability, ranging from environmental conservation and renewable energy to social equity and economic development. On the contrary, a dearth of endeavors has been devoted to what the hospitality and tourism industry has been doing with sustainability. Frameworks for reporting purposes may have been discussed. However, specific sustainability industry practices are the least documented. More importantly, given the diverse businesses in hospitality and tourism, what they should be doing with sustainability has been explored rather narrowly. Therefore, this chapter presents multi-level sustainability in the hospitality and tourism industry. Stakeholder theory is utilized as the theoretical framework. Sustainability practices across various hospitality and tourism businesses are identified. The findings will benefit hospitality and tourism businesses as they engage in sustainability as a competitive advantage.

Pages: 26

Thailand is globally renowned for its tourism-driven economic growth. This chapter explores the country's economic development at the community level, utilizing Tobler's First Law of Geography to examine the spatial relationships among community wealth, tourist accommodations, and attractions and their distribution across 2.4-km2 grid units. Through geospatial analysis and user-generated content from Google Maps, this chapter uncovers the spatial relationship between these factors on a nationwide scale, using practical examples drawn from a community. The findings reveal disparities between attraction density and popularity and community wealth. While attraction density alone may not directly enhance local wealth, it indirectly contributes by casting a higher accommodation density within communities, thereby supporting local wealth. However, it should be clearly noted that only 5% of the areas analyzed show a direct relationship between accommodation density and community wealth. These relationships are concentrated in distinct clusters, spanning both popular tourist destinations and less-visited cities, forming unique patterns of economic benefit from tourism. This chapter pinpoints the need for targeted, localized strategies to maximize the economic benefits of tourism and offers new insights into its spatial impacts on wealth distribution across Thailand.

Pages: 19

This chapter investigates the current state of ESG (environmental, social, and governance) initiatives within the Croatian tourism sector. Despite a long history of tourism development, challenges remain, including environmental degradation, social inequities, and a concentration of tourism in specific regions. The chapter analyzes relevant legislation, including the Law on Tourism and Environmental Regulations, and examines the roles of key stakeholders, such as government, tourism businesses, local communities, and NGOs. Furthermore, it highlights the need for a more integrated and collaborative approach to address these challenges. By fostering a deeper understanding of ESG principles and implementing robust monitoring systems, Croatia can transition toward a more sustainable tourism model that benefits both the environment and local communities while maintaining its competitive edge in the global tourism market.