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Developing ESG Evaluation Guidelines for the Tourism Sector: With a Focus on the Hotel Industry

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  • Jun-Ho Bae

    (Department of Hotel & Tourism Administration, Halla University, Wonju 26404, Republic of Korea)

Abstract

This study aimed to develop an ESG evaluation index that accurately captures the features of the hotel industry. To create the ESG evaluation index for the hotel industry, the K-ESG guidelines provided by Korea Corporate Governance Service (KCGS) were utilized as a benchmark, and also, the Korea Tourism Organization’s ESG-compliant standards for certification evaluation were taken into consideration to reflect the particulars of the hotel business as closely as possible. The initial measurement items for an ESG evaluation index were created by reviewing prior research, and they were modified and supplemented based on the results of the Delphi survey. The professionals currently engaging in business, academia, and governmental institutions, whose knowledge and expertise are specialized in the hotel industry, participated as panel members in the study. In the first round, the panel members were encouraged to brainstorm and answer the questionnaire consisting of both open- and close-ended questions. In the second round, the panel members were asked to respond to a questionnaire made up of closed questions extracted from the first round. Through both rounds, the ESG evaluation index for the hotel industry was finalized, including three domains, twenty indicators, and forty-on items. To fulfill the purpose of the study, which was to initially develop an ESG evaluation index applicable to the Korean hotel industry, this study was conducted toward the professionals in the field. This opens up interesting possibilities for more investigation. The range of participants can be widened by incorporating hotel personnel and patrons, ensuring that the ESG evaluation guidelines are specifically applicable to the hotel industry. Additionally, it appears essential to broaden the research’s focus to include the tourism industry as a whole.

Suggested Citation

  • Jun-Ho Bae, 2022. "Developing ESG Evaluation Guidelines for the Tourism Sector: With a Focus on the Hotel Industry," Sustainability, MDPI, vol. 14(24), pages 1-17, December.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:24:p:16474-:d:998074
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    References listed on IDEAS

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    1. Yi Guo & Jinbo Jiang & Shengchao Li, 2019. "A Sustainable Tourism Policy Research Review," Sustainability, MDPI, vol. 11(11), pages 1-16, June.
    2. Ng, Anthony C. & Rezaee, Zabihollah, 2015. "Business sustainability performance and cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 34(C), pages 128-149.
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    Cited by:

    1. Gum-Kwang Bae & Sang-Mook Lee & Bui-Kim Luan, 2023. "The Impact of ESG on Brand Trust and Word of Mouth in Food and Beverage Companies: Focusing on Jeju Island Tourists," Sustainability, MDPI, vol. 15(3), pages 1-14, January.

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