ESG-financing as a tool for ensuring the sustainable development of international tourism: current trends and prospects

Abstract

The modern development of international tourism takes place in conditions of increasing global environmental, social and economic challenges, which necessitates the implementation of new approaches to financing tourism activities. One of the most promising tools for ensuring the sustainable development of the industry is ESG-financing, which involves taking into account environmental, social and governance criteria when making investment decisions. The use of ESG-approaches contributes to increasing the competitiveness of tourism enterprises, attracting responsible investments and achieving the UN Sustainable Development Goals.

Problem statement. Despite the active spread of the ESG concept in the global economy, the issues of its practical application in the field of international tourism remain insufficiently researched. Determining the role of ESG-financing as a mechanism for ensuring environmental sustainability, social responsibility and long-term economic efficiency of the tourism industry is of particular relevance.

Unresolved aspects of the problem. Further research is required on the specifics of integrating ESG principles into the financial activities of tourism enterprises, assessing the effectiveness of using green financial instruments, and adapting international ESG standards to the conditions of the tourism industry in different countries.

Purpose of the article. The purpose of the article is to study current trends in the development of ESG financing in international tourism, analyze the international regulatory framework and scientific approaches to the use of ESG instruments, and determine the prospects for their application to ensure the sustainable development of the tourism sector.

Presentation of the main material. The main financial instruments are studied, in particular, green bonds, sustainable loans, ESG investments, and non-financial reporting mechanisms. The main trends in the development of ESG financing, its impact on the greening of tourism infrastructure, increasing the investment attractiveness of enterprises, and the implementation of international standards of sustainable development are identified.

Conclusions. The results of the study confirm that ESG financing is one of the key tools for ensuring the sustainable development of international tourism, contributing to increasing environmental responsibility, social efficiency and transparency of corporate governance of tourism enterprises. The practical significance of the study lies in the possibility of using the obtained results when developing strategies for the sustainable development of tourism enterprises, improving state policy in the field of tourism and forming mechanisms for attracting ESG investments.