Travelers are stakeholders from a Corporate Social Responsibility Perspective

Welcome to the second installment of my review of my law review note, written in 2015 and comparing the way corporate social responsibility was viewed then and how it is evolving now and how I hope it to progress in the travel industry in the future.  

Back in the day, the sole purpose of a corporation was to make money for its stakeholders.  Who were the stakeholders, you ask?  Why, the shareholders, of course.  Those were the only people who mattered.  The goal was to make the most money without consideration for people, place, or environment.  

I am happy to say that things have changed since then.  It started with Corporate Social Responsibility.  More lately, the term "ESG" has come into vogue.  Environmental, social, and corporate governance ("ESG") is the term more commonly used, and the travel industry is getting on board big time.  

There is now also a newer form of corporation known as a "B Corp" which allows the corporation to also focus on the social good when making decisions and use a portion of profits towards those goals.  Isn't it great that there is a way for a corporation to do some good without being accused of misusing shareholder profits?  

Back to ESG.  As the years have passed, the environment and climate change have been a more pressing concern for everyone.  Many of the newer (or refurbished) hotels and resorts are finding ways to revamp their HVAC systems and cut back on single-use plastics.  It is common to have the choice to either have daily sheet and towel changes or to go several days between changes.  It might seem like a small change on the individual level, but we often forget that there are hundreds of rooms which may be fully booked.  That small change on each traveler's part can lead to a huge change in volume of water and watts of electricity used in a week, for example.  Some resorts offer refillable water bottles with water stations throughout.  Fresh, local, and organic produce can increase local employment, make for healthier choices in a farm-to-table restaurant, and reduce use of pesticides by choosing more sustainable options.  

The benefits to society will vary depending on the property and its goals.  For travelers who prioritize ESG goals in their day-tp-day lives, there are increasingly more options available to choose from.  There are now entire countries--such as Switzerland--that are prioritizing sustainability.  Travelers can explore new destinations, resorts, and restaurants in a way that they can feel good about.  It might not be perfect yet, but done is better than perfect.  If travelers want more sustainable options, they need to take advantage of the options that are available.  Travelers can vote with their dollars (or whatever currency used) and let the entire industry know how important ESG is to them and, as a result, lead to more options in the future.