More than half (53%) of ESG professionals within the travel industry believe that progress towards achieving a net zero sector by 2050 needs to be ‘accelerated urgently’, a new study by Amadeus has found.
Of the 896 decision makers surveyed, 89% believe that the UNWTO-proposed goal to reach net zero by 2050 can be reached, with just over a third (36%) saying that ‘no adjustments’ will be required to achieve that target.
‘Step-by-step’ strategy
A sizeable majority (90%) of those surveyed say that they have a ‘step-by-step’ strategy in place to help them achieve environmental sustainability objectives, or are planning to implement one in 2024, the survey found, while 94% are either currently active in, or plan to participate in, social sustainability initiatives that impact beyond their organisation.
At the same time, the industry cited a number of hurdles – two fifths (40%) cited cost as the biggest barrier preventing them from meeting their environmental commitments, followed by a ‘lack of technology and knowledge’ (30%). A quarter (25%) cited lack of buy-in from C-suite executives.
The role of technology
Most respondents also indicated that they see technology as having a ‘clear and recognised’ role in helping them achieve their ambitions. Some 92% of respondents indicated technology is important to help organisations achieve environmental sustainability objectives, with 91% saying the same for social objectives.
On this, a third (33%) cited generative AI initiatives as the technology with the highest potential to accelerate environmental sustainability, while 31% cited technologies that generate operational efficiency improvements, and 38% noted that social progress could be made through the use of integrated accessibility technology on transport types.
At the same time however, 37% said that they felt more access to technological solutions was needed for them to reduce emissions and forge a path to net zero.
“As the travel industry continues to navigate the complexity of delivering on ESG targets, I’m encouraged by the optimism and the commitments being put in place – from investments to strategic planning to technological solutions,” commented Jackson Pek, SVP and group general counsel, Amadeus. Read the full report here.
