Corporates are embracing sustainability as a core component of its operations, driven by legal mandates. Industry experts demonstrate these practices are necessary in today’s business landscape.
Janice Alyosius
Sustainability has transcended its status as a mere buzzword to become a fundamental element of modern business practices, especially in the travel and hospitality industry. Leaders in this sector emphasise that sustainability is not just a social responsibility, but a determinant of a brand’s integrity.
Underlining similar sentiments, Rajdev Bhattacharya, Global Head, Travel and Hospitality & Global Travel Services, Wipro, articulated this shift, “Legally, the infrastructure is pushing hotels, even the corporates or the airlines to sort of think a little bit more. It is no longer a social responsibility; it is a legal requirement.” This evolution reflects a growing recognition of the urgent need to protect our planet, which requires a collaborative approach from every stakeholder involved in the sector.
Willingness to invest in sustainable events
The willingness to invest in sustainable practices, even at a higher cost, is shared by many industry leaders. Bhattacharya himself is prepared to pay extra for hosting more sustainable events. “It is high time we woke up; Mother Nature has given us enough warnings like COVID, floods in Dubai, and almost 40°C summers in Bengaluru!” he emphasised. He suggested that sustainability initiatives with long-term benefits should be prioritised, including energy-efficient venues, local and organic food sourcing, waste minimisation, and carbon offset options for travel. Bhattacharya also stresses the importance of balancing price sensitivity with sustainability. He advised negotiating with vendors for competitive pricing on sustainable products and services to help mitigate the additional costs.
The impact of sustainable practices extends beyond immediate environmental benefits. Bhattacharya highlighted the importance of considering the overall effect of events on the environment and local communities. This holistic approach includes transportation logistics, waste management, and the social and economic implications of hosting events. “Collaborating with local stakeholders and engaging attendees in sustainable practices can further enhance the event’s positive impact,” he noted, advocating for a comprehensive strategy that benefits both the environment and the company’s reputation.
Corporate commitment to sustainability
Devendra Saraiya, Director, Administration, Deloitte India, reinforced the importance of sustainability in daily operations and events. “We ensure that during our events, we use glass bottles, avoid paper and plastic cups,” he explained. Deloitte India is committed to balancing these expenses with the need for sustainable practices. “There is no compromise on it,” Saraiya asserted, reflecting a steadfast dedication to eco-friendly initiatives.
“My company had long been an Environmental, Social, and Governance (ESG)-compliant organisation, even before sustainability became a global buzzword. We are a process-driven company, where we act in accordance with ESG regulations at every juncture. So, we are a huge contributor towards sustainability. We are now in the third version of building a next-gen corporate tool, which will take care of other parameters from ESG programmes to GST, from pro-active audit compliance to lowest logical fares and will install this soon, this year,” Sanjay Pai, Vice President and Head, Corporate Travel, Aviation & Facility Management, Larson & Toubro, shared.
Way forward
The consensus among industry leaders is clear: Sustainability is an essential aspect of modern business that requires ongoing commitment and strategic investment. As Bhattacharya put it, “Sustainability should be viewed as an investment in the future that not only benefits the environment but also enhances the company’s reputation and brand value.” This forward-thinking approach ensures that sustainability efforts are not just about meeting current legal requirements but also about securing a healthier, more prosperous future for all.
With an increasing number of companies pledging to attain net-zero objectives, the imperative arises for them to adopt business models aligned with eco-friendly principles. Embracing sustainable practices and social responsibilities for corporate travel and meetings represents an investment in the future, ensuring a harmonious balance between business goals and environmental stewardship. By embracing sustainable practices, brands across various verticals cultivate a reputation that speaks volumes. It is more than just a corporate responsibility—it is a strategic decision that elevates brand value, which resonates with the stakeholders and echoes meaningful living for generations to come.
By embracing sustainable practices, brands across various verticals cultivate a reputation that speaks volumes
