The Vital Role of Technology in Achieving ESG Goals

Amadeus has recently completed a study on the perception of technology among 896 senior sustainability decision makers from nine markets and seven segments of the travel industry. The primary objective of the study was to gain insight into ESG goals, priorities, and challenges within the global travel industry.

The research uncovered a pervasive sense of optimism among ESG decision makers regarding the industry’s ability to achieve the UNWTO-proposed goal of reaching net zero by 2050. A staggering 89% of the decision makers believe that the industry can attain this target. Of this group, 36% expressed confidence in achieving the goal without any adjustments, while 53% acknowledged the need to urgently accelerate progress.

Additionally, the study revealed that 90% of the participants either have a step-by-step strategy in place to help achieve environmental sustainability objectives or are planning to implement one by 2024. Similarly, 94% of the respondents are either currently active or plan to be actively involved in social sustainability initiatives that extend beyond their organization. This commitment is reflected in increased investment, with 46% of the decision makers anticipating an increase in investment in 2024 compared to the previous year.

However, the study also identified barriers to delivering on environmental, social, and governance initiatives. The primary barriers cited by decision makers included cost, lack of technology and knowledge, and C-suite buy-in.

The study emphasized the paramount importance of technology in helping the industry achieve its sustainability ambitions. According to the research, 92% of the respondents indicated that technology is crucial to achieving environmental sustainability objectives, with 91% saying the same for social objectives. Artificial Intelligence and Virtual Reality were specifically emphasized as technologies with the highest potential to accelerate sustainability efforts.

Despite the optimism and commitment, the study revealed the industry still has work to do in order to deliver on its sustainability ambitions. Specifically, more access to technological solutions and increased collaboration across the industry are seen as essential to meeting targets within the set timeframe.

Jackson Pek, SVP and group general counsel of Amadeus, expressed his encouragement by the optimism and commitments being put in place, from investments to strategic planning to technological solutions. He emphasized the company’s dedication to embedding ESG at the core of its business and its support for travel players on their journey towards becoming more efficient and enabling travelers to make more informed choices.

In conclusion, the study highlights the critical role of technology in helping the travel industry achieve its ESG goals, while also acknowledging the need for collaborative efforts and enhanced access to technological solutions to meet sustainability targets effectively.