WTTC and Oliver Wyman Launch Sustainability Reporting Roadmap at ITB Berlin
THE WORLD TRAVEL & TOURISM COUNCIL (WTTC) AND OLIVER WYMAN HAVE LAUNCHED A NEW SUSTAINABILITY REPORTING ROADMAP AT ITB BERLIN, AIDING BUSINESSES IN NAVIGATING COMPLEXITIES AND MEETING COMPLIANCE STANDARDS.
In a significant move to simplify sustainability reporting in the travel sector, the World Travel & Tourism Council (WTTC) and Oliver Wyman have launched a Sustainability Reporting Readiness Roadmap during ITB Berlin. This strategic tool aims to guide businesses through the complexities of sustainability frameworks, compliance timelines, and readiness assessments, streamlining the journey towards sustainable compliance.
Sustainability Reporting Readiness Roadmap: Navigating Sustainability Challenges
The recently released report, “Navigating the Sustainability Journey: The Impact of Mandatory Reporting on Travel & Tourism,” by WTTC and Oliver Wyman sheds light on the unpreparedness of some companies in the sector for upcoming sustainability compliance standards. Urgent action is required, particularly concerning complex supply chains and Scope 3 emissions reporting.
Julia Simpson, WTTC President & CEO, stressed that sustainability reporting is now non-negotiable for travel businesses. She highlighted that the roadmap serves as a trusted navigator through the intricacies of sustainability reporting, offering guidance to propel companies towards sustainable growth and resilience.
Dan Darcy, Principal with Oliver Wyman’s Transportation & Services practice, also stressed the significant challenge sustainability reporting requirements pose for travel companies. Despite the challenges, he stressed that these requirements are crucial for protecting destinations, ecosystems, and communities, showing the industry’s commitment to sustainability.
Empowering the Travel Industry for Sustainable Transformation
As the travel sector embarks on the journey towards greater transparency and sustainability, the roadmap’s diagnostic tools enable companies to pinpoint their sustainability standing, bridge gaps, and chart a path towards compliance and a sustainable future.
This innovative roadmap is not merely a tool but a strategic compass empowering companies to decode sustainability reporting complexities. It facilitates the identification of relevant compliance standards and evaluation of sustainability data and platform maturity, ensuring an easy transition into the new sustainability era.
