Efforts are being made worldwide so that the travel sector can start limit the effects of climate change and its effect on the environment, from banning straws to turning to renewable energy.

However, this week’s WTTC Travel & Tourism Climate & Environment Action Forum saw leaders from financial services rather than hospitality show the way forward, realising that money will force travel companies to embrace sustainability, and avoid potential government regulation.

Global investment in sustainable strategies has been calculated as rising 175% over four years, to $30 trillion, with impact investment now comprising a $500 million industry, while much of this is driven by millennial and Gen Z customers demanding sustainable products.

Environmental regulation is likely to rise over the next five years, and investors are now expecting companies to report honestly on how the climate will impact their businesses – giving rise to creative schemes such as Rhino bonds, paying investors on a scale linked to wildlife conservation.

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