Hospitality leaders tackle ESG challenges with new education program

Monday, January 15, 2024

The most recent exploration into the perspectives of leaders in the hospitality sector regarding Environment, Social, and Governance (ESG) issues has underscored numerous concerns surrounding the implementation of ESG measures. The research, conducted by King’s Business School and the Energy and Environment Alliance, involved over 250 hospitality leaders globally who shared their insights on ESG issues. This study has played a crucial role in shaping the ESG Executive Education Hospitality Programme, tailored for the industry’s C-suite, which is now entering its second cohort.

The study pinpointed hurdles to advancement and investment, such as varied reporting standards, skepticism from stakeholders on ESG matters, concerns about guest responses, and a lack of expertise in the industry. A participant noted, “Measuring performance and convincing others with payback calculations is challenging.” In the survey, 73% of leaders prioritized ESG education for the C-suite, particularly in reporting and benchmarking.

Conflicting priorities among industry stakeholders were also raised as a concern, with a focus on guest satisfaction rather than sustainability. Many leaders expressed apprehension about the quality of available ESG advice, emphasizing the difficulty in finding knowledgeable advisors capable of offering holistic guidance.

Regional disparities in priorities were evident, with European leaders placing more emphasis on energy-related initiatives compared to their counterparts in other regions. Ufi Ibrahim, Chief Executive of the Energy and Environment Alliance, stressed that industry leaders acknowledge the urgency of ESG issues and see a common approach as a significant driver of change. Dr. Marc Lepere, Head of ESG & Sustainability for Executive Education at King’s Business School, emphasized the research’s common theme—a desire to navigate confusion and contradictions to develop an effective approach to ESG for the sector. The collaboration with the EEA on the educational program aims to facilitate better-informed and focused conversations within the industry and with regulators.

« Back to Page