Worldwide: Management consultancy PACE Dimensions in partnership with market researcher BVA BDRC have released a report on consumer and corporate sentiment towards ESG.
The research provides insight into consumer attitudes and opinions towards ESG, as well as corporate buying behaviour.
Some key takeaways from the report includes:
• 59 per cent believe large companies should do far more to help the environment and support communities, and 58 per cent believe governments should d0 more to ensure fair wages and equal opportunities
• 38 per cent of the world market seek hotels that are sustainable
• Younger age groups (eg. Gen Y) are more vocal about their attitudes, whereas older age groups take more action when it comes to choosing hotels that are sustainable
• Price is having the largest effect on decision making, followed by cancellation policies and then sustainability accreditation
• ESG compliance is becoming an additional corporate requirement in the RFP process
• A lack of corporate resource leads to searches for easy-to-use solutions eg. OTA accreditations.
Tim Davis, managing director of PACE Dimensions, said: “This is powerful data. Along with BVA BDRC, we’ve worked on this study to help our clients and others across the sector develop informed strategies and plans to optimise their performance.
“We can provide bespoke data specific to the needs of any business or brand that wants to sharpen performance and align with the opportunity and risks that ESG presents. Our findings underline that this is no longer a nice thing to do, and nor is it a siloed department in business. ESG permeates at every level and activating a positive ESG strategy is key to businesses performance. Failing to act now will see businesses lose value and with stranded assets.”
