Towards investment and financing for sustainable tourism
Investment and financing has an important role to play in supporting the transition to low carbon, resource efficient and socially inclusive tourism development. This study examines the need for a shift toward investment and financing practices that support sustainable tourism, and explores policies, institutions and instruments for green finance and investment relevant for the sector. The objectives of the study are to provide an overview of sustainable investment and financing practices in tourism, as well as policies, institutions and instruments for green finance and investment relevant for the sector. It also seeks to highlight good practices that catalyse and support the transition to a green, low-emissions and climate-resilient tourism economy, and offer guidance to policy makers on how to move forward.
ACTIVITIES The study findings are presented as a chapter in the OECD Tourism Trends and Policies 2018 publication, which will be launched in March 2018, at ITB Berlin. IMPACTS/RESULTS The chapter highlights good practices among the various actors driving the shift to a new model of green development. It notes that investment in the green economy needs to take place on a far greater scale over coming decades. Tourism, as one of the most promising drivers of growth for the world economy, can play an important role in driving the defining trends of the transition to a green economy. With close connections to numerous sectors at destination and international levels, even small improvements toward greater sustainability in tourism will have important impacts. The chapter highlights the importance of incorporating environmental and sustainability criteria into public financing and investment supports, and of encouraging more responsible business practices in tourism through the integration of environmental and social criteria into tourism policies and programmes, mobilisation of green investors, and uptake of sustainable practices by businesses. The chapter contributes to the broader Tourism Committee activity on Effective Policy Approaches for Quality Investment in Tourism, and the work of the 10YFP Sustainable Tourism Programme on Enhancing Sustainable Tourism Investment and Financing. RELATED CONTENT On 2-3 October 2017, during the OECD High Level Meeting on Tourism Policies for Sustainable and Inclusive Growth, 45 countries endorsed the Policy Statement - Tourism Policies for Sustainable and Inclusive Growth, which recognises that tourism has an important role to play in the transition to a green economy. DOCUMENTS • http://www.oecd.org/cfe/tourism/Tourism-meeting-Issues-Paper-on-Leveraging-Investment-for-Sustainable-and-Inclusive-Growth.pdf • http://www.oecd.org/cfe/tourism/OECD-Policy-Statement-Tourism-Policies-for-Sustainable-and-Inclusive-Growth.pdf
