TAT and AWC celebrate global recognition for Thai tourism: AWC earns top ranking in the industry, achieving no. 1 score and placement in the top 1% in S&P Global’s ‘The Sustainability Yearbook 2024’.
The Tourism Authority of Thailand (TAT) and Asset World Corp Public Company Limited (AWC) have been working together since 2022 to elevate Thailand’s tourism to new heights of sustainability. Building on this commitment, the AWC Stay to Sustain project was launched in 2023, inviting global travelers to contribute to Thailand’s sustainable future. AWC has now achieved a historic milestone, securing the No. 1 sustainability score in the Hotels, Resorts & Cruise Lines industry and a Top 1% placement (Gold Class), as announced by S&P Global in The Sustainability Yearbook 2024. This accolade not only supports TAT’s strategy for sustainable tourism but also enhances Thailand’s reputation as a destination for sustainable tourism. As the Thai company with the highest sustainability score among leading global organisations, this recognition underscores AWC’s mission of ‘Building a Better Future’ within the framework of 3BETTERs: BETTER PLANET, BETTER PEOPLE, and BETTER PROSPERITY. AWC is dedicated to fostering sustainable growth for all stakeholders and positioning Thailand as a leading destination for sustainable tourism.
Ms. Thapanee Kiatphaibool, Governor of the Tourism Authority of Thailand (TAT), stated, “TAT is thrilled that its strategy has established Thailand as a premier destination for sustainable tourism. This strategy aims to enhance the competitiveness of the Thai tourism sector and attract global tourists who prioritise sustainable travel. It stands as proof of the successful collaboration with AWC’s commitment to promoting world-class sustainable destinations. AWC’s achievement as the industry leader in sustainability serves as an exemplary model for entrepreneurs and the Thai tourism industry on a global level. This achievement highlights the importance of sustainable tourism in all aspects—economic, societal, and environmental—and aligns perfectly with TAT’s guidelines to support tourism business operators in the country through the ‘Sustainable Tourism Acceleration Rating project (STAR),’ which includes all 17 Sustainable Tourism Goals (STGs). Together with our tourism partners, we are committed to advancing sustainability within Thailand’s tourism industry.”
Mrs. Wallapa Traisorat, President and CEO of Asset World Corp Public Company Limited (AWC), expressed, “AWC is immensely proud of the synergy among partners who share our vision for a sustainable tourism industry, leading to our world number one ranking by S&P Global and securing a Top 1% (Gold Class) position in The Sustainability Yearbook 2024. This accomplishment is built upon our inclusion in the Dow Jones Sustainability Indices (DJSI) 2023 for Emerging Markets. Through collaboration with government, private sector, and global tourism industry stakeholders, AWC is driving sustainable tourism in Thailand across multiple dimensions. Our aim is to create long-term value for all stakeholders. AWC also aligns with TAT’s ‘STAR’ benchmark and incorporates global sustainability standards from S&P, along with jointly developed standards for sustainable tourism with various sector partners. These efforts enhance our organisation’s sustainability across all ESG dimensions—environmental, social, and governance. By focusing on sustainability initiatives, AWC strives to generate long-term value for the industry and Thailand, leading to a brighter future.”
“AWC extends its gratitude to TAT for its crucial role in supporting Thai entrepreneurs towards sustainable tourism. Following AWC’s operational guidelines, all 25 AWC properties have received STAR certification from TAT to date. AWC is also grateful for the cooperative efforts of partners, executives, and employees who have collectively advanced sustainable development in the real estate and tourism industries, contributing to Thailand’s position as a global leader in sustainable tourism.”
In 2023, AWC launched several sustainable projects, including collaborations with TAT and the Mae Fah Luang Foundation under Royal Patronage, aiming to set new standards for sustainable tourism. A notable initiative was the “AWC Stay to Sustain” project, which enables guests at AWC-affiliated hotels to contribute to community forest restoration and improve the livelihoods of local communities. Additionally, AWC partnered with leading banks to secure sustainable loans, aiming for 100% of long-term credit facilities to be sustainability-linked, thereby building a sustainable future for Thailand.
Moreover, AWC is advancing sustainable tourism through its real estate properties. This includes the opening of the “INNSiDE by Meliá Bangkok Sukhumvit”, certified under the EDGE standard, recognising a 31% reduction in energy and water consumption and a 38% reduction in the energy used for material production in the building. AWC prioritises selecting environmentally friendly electrical appliances for guest rooms. Furthermore, AWC supports Chiang Mai’s goal to become a global sustainable tourism destination by opening the “InterContinental Chiang Mai Mae Ping Hotel”, the first hotel in Chiang Mai to receive certifications for LEED standards in building design and construction and the WELL Health-Safety Rating.
The Sustainability Yearbook, an annual publication by S&P Global, compiles data from global investment firms. It is widely used for investment decision-making, measuring companies’ performance in economic, social, and environmental aspects, involving over 9,400 leading companies worldwide.
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