Top News UNWTO partners with Destination Capital to promote investments in sustainable hotels By TTG Asia / Posted on 30 July, 2021 12:53 The World Tourism Organization (UNWTO) has signed an agreement with Bangkok-based real estate investment firm Destination Capital (DC) to promote investment in sustainable hotels and to stimulate re-employment in the hospitality industry to help rejuvenate the sector post-Covid. The collaboration, which supports the relationship DC has with the International Finance Corporation (IFC), is based on DC’s adoption of best practices aimed at reducing carbon emissions and operating hotels in a manner consistent with IFC’s environmental and social criteria. UNWTO, Destination Capital to promote green hotel investments to restart tourism Against this backdrop, DC acquires and repositions freehold hotels of 150-250 rooms in Thailand and across South-east Asia with the aim of implementing sustainable water and energy systems. It also works to promote gender equality at every level of the hospitality sector, another of UNWTO’s core priorities and in line with Sustainable Development Goal 5. While governments and destinations around the world are working on vaccination programs to accelerate the restart of tourism, UNWTO is working with the private sector to encourage employers to play their part in the recovery of local communities through job creation and training programs. UNWTO data shows that international tourism arrivals fell by one billion in 2020, with the crisis carrying over into 2021. Worldwide, this has placed as many as 120 million tourism jobs directly at risk. Moreover, Asia and the Pacific has been the worst-affected of all global regions, and young workers and women are among the hardest hit by the downturn in tourism employment. In line with the 2030 Agenda for Sustainable Development, DC recognises the hotel industry not only has a responsibility to re-hire and re-train hotel staff, but also to reduce its carbon footprint and mitigate the impact of energy and water consumption as well as food waste and environmental degradation. DC said that it is committed to retrofitting its hotels to be compliant as green hotels, as per the Excellence in Design for Greater Efficiencies (EDGE) standards established by IFC.