Moving the Needle on Sustainability: Cooperation in Hospitality
Hospitality business governance, the need for cooperation and societal and environmental challenges: what are the links?
Governance is about how a company is governed. That includes the structure, policies and processes in place to operate, manages risks, makes decisions and ultimately take action. Good governance is essential to operate transparently, ethically, and in the interests of all stakeholders since the purpose of a business is "to solve the problems of people and planet profitably and not to profit from causing problems" [1].
However, the task to solve humanity's problems is daunting when faced with a global polycrisis (see. https://www.hospitalitynet.org/viewpoint/125000176.html). How can hospitality and tourism businesses move the needle on topics such as climate emergency, biodiversity collapse and social injustice?
Tackling those complex challenges requires cooperation, collaboration and coordination between multiple stakeholders, including governments, civil society, and businesses. In this context, business governance plays a crucial role in enabling cooperation. Companies with good governance practices are more likely to engage in constructive partnerships, more likely to prioritize sustainability in their decision-making, to invest in sustainable technologies and practices, to report on their sustainability performance to and to work effectively with other stakeholders to achieve shared goals [2].
Voices are loud on the importance of cross-sectoral partnerships and business cooperation both in verticals (e.g. supply chain/value chain) and horizontals (e.g. competitors) to move that sustainability needle - whether it's about the development of trustworthy industry carbon calculators or alignment on performance disclosures.
With this in mind, we are looking at best practices and possible dead angles to tackle with the following three questions:
- Are we effectively using cooperation in climate and biodiversity action to drive social change?
- What are the possible areas where greater cooperation is needed in the sector to advance sustainability performance?
- What are examples of best practices in regards to cooperation in the greater tourism and hospitality sectors? (providing information on the challenge tackled and outcome)
[1] British Academy (2021). Policy & Practice for Purposeful Business: The final report of the Future of the Corporation programme. p.48. DOI doi.org/10.5871/bafotc/9780856726699.001
[2] Naciti, V., Cesaroni, F. & Pulejo, L. (2022). Corporate governance and sustainability: a review of the existing literature. Journal of Management and Governance, 26, 55-74. https://doi.org/10.1007/s10997-020-09554-6