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Sectors

Tourism and Travel

About this sector

Based on its contribution to global gross domestic product, the number of people it employs, and the number of clients it serves, tourism has been described as the world’s largest industry. In 2008 these figures were 9.5% of global GDP, over 200 million jobs – one in 13 of all jobs worldwide – 924 million international travellers in 2008, and perhaps 10 times the number of domestic travellers.
The industry forms one of the top five export earners in 150 countries, and is particularly important for developing countries. For the world’s 40 poorest countries, tourism is second to oil as a source of foreign exchange.

Impacts

Tourism facilities and infrastructure can threaten natural and important habitats.
Excessive use of natural resources, such as fresh water, energy and food can threaten supplies and lead to pollution through waste.
Tourist behaviour can threaten species and ecosystems (introduction of invasive alien species, harvesting of wild species for souvenirs).

Opportunities/Risks

The rise in demand for nature-based and eco-tourism creates business opportunities that can be tied with wildlife conservation.
Consumer awareness of ethical and environmental issues creates markets for responsible tourism.
Environmental impacts can limit access to capital insurance and incur legal risks.
Brand and reputation are strongly influenced by a company’s environmental performance.

Case Studies

Sustaining our Great Lakes

ArcelorMittal, owning operations within the Great Lakes basin, manages its business risk and supports critical public resources through a unique partnership dedicated to the protection and restoration of the Great Lakes ecosystem.

Conserving indigenous forests in Liberia

As part of its risks management strategy in Liberia, ArcelorMittal has set-up a multi-stakeholder partnership to investigate how it could mitigate its future liabilities, i.e. its potential impacts on local biodiversity and people’s livelihood.

Protecting and preserving ecosystems through respectful agricultural practices

It is of critical importance for the agriculture sector to protect and enhance the ecosystems it relies on for its yields. Acknowledging this fact, BASF has developed different programs throughout the world that aim first to show that modern agriculture can be compatible with nature whilst also supporting its clients, the farmers.

Testing the first habitat banking project in Europe

New market mechanisms targeting biodiversity conservation are emerging worldwide, and among others, the biodiversity offset market size is expected to increase in the coming years. The French company CDC Biodiversité has seized this opportunity and is testing the first habitat banking project in Europe.

Conserving a unique transboundary ecosystem

As part of its corporate responsibility, CEMEX has long recognized the importance of protecting the biodiversity of our planet. It has therefore conducted a multistakeholder, long-term transboundary conservation initiative along the Mexico and US border over ten years, thus helping to protect the region’s biodiversity.

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Tools and Mechanisms

World Gold Council

http://www.gold.org/about_gold/sustainability/

The World Gold Council supports the development of a truly sustainable gold mining industry. It supports global initiatives aimed at providing clear standards and processes on economic, environmental, and social issues. Member organisations of the Council regularly publish reports outlining progress towards stated sustainability goals and declare the policies and standards that they have put in place to continually improve their sustainability performance.

European Bank for Reconstruction and Development (EBRD)

http://www.ebrd.com/enviro

The EBRD is an international financial institution that supports projects in 30 countries from central Europe to central Asia. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies.

The Economics of Ecosystems and Biodiversity

http://www.teebweb.org/

The Economics of Ecosystems and Biodiversity study is an international initiative to draw attention to the global economic benefits of biodiversity. Its objective is to highlight the growing cost of biodiversity loss and ecosystem degradation and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward. TEEB aims to assess, communicate and mainstream the urgency of actions through its four deliverables; D0: science and economic foundations, policy costs and costs of inaction, D1: policy opportunities for national and international policy-makers, D2: decision support for local administrators, D3: business risks, opportunities and metrics and D4: citizen and consumer ownership.

Union for Ethical BioTrade (UEBT)

http://www.ethicalbiotrade.org/

The Union for Ethical Biotrade is a non-profit association that promotes the “Sourcing with Respect” of ingredients that come from native biodiversity. Members commit to gradually ensuring that their sourcing practices promote the conservation of biodiversity, respect traditional knowledge and assure the equitable sharing of benefits all along the supply chain. As part of its strategic plan the UEBT targets key economic sectors such as the cosmetics, health, and beauty industry, and to a lesser extent the food industry.

Fauna & Flora International (FFI)

http://www.fauna-flora.org/initiative/business-and...

Founded in 1903, FFI is the world’s longest established international conservation body and a registered charity. FFI protects threatened species and ecosystems worldwide, choosing solutions that are sustainable, based on sound science, and take account of human needs. In their business and biodiversity program, FFI works with the private sector to build long-term strategies for environmental management.