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Linking sustainability targets to bonuses

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Many companies today demonstrate their commitment to sustainability through goal setting. Establishing sustainability based Key Performance Indicators (KPIs) and quantifiable targets are a great way to show stakeholders your business is committed to improving operations and impact. The real question is though, how do you ensure these targets are met? How can leadership ensure that their team works to achieve these targets?

One way to do this is to tie executive remuneration bonuses to sustainability targets. This provides a huge incentive, and as a ‘carrot and stick’ approach  – it can be extremely effective. For example, a Dutch multinational unveiled a policy in 2010 which tied executive bonuses to environmental targets. It is a serious deal to think that the company’s four hundred executives will not get 50 percent of their annual bonuses if they fail to meet sustainability and climate goals – but from a strategic perspective it’s an extremely effective way to “get things get done.”

A review undertaken by Jayne-Anne Gadhia, the chief executive of Virgin Money recommended that, due to the persistent low number of female representation at senior level across UK financial services, financial service firms should “connect parts of the remuneration packages of their executive teams to gender balance targets.” 

In the tourism and travel industry this measure is also being used. For example, Intrepid Travel, a company that is a strong advocate for responsible business, expresses on their website that, “all Intrepid staff are rated on their contribution to environmental and social sustainability in their annual performance reviews.”

So if you are a business leader with a serious commitment to improving sustainability, then why not put some money in the equation? It might just pay off.

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The aim of the guide is to investigate the issues that local governments face in tourism management and the practices and approaches that have been adopted to address these issues. An investigation and appreciation of these issues is necessarily the first stage in moving towards more sustainable local tourism management.

by Dianne Dredge, Jim Macbeth, Dean Carson, Narelle Beaumont, Jeremy Northcote, and Fiona Richards

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This is a scoping study aimed at identifying contemporary issues for, and barriers and impediments to, tourism investment in Australia.

by Sally Driml, Jacqui Robinson, Aaron Tkaczynski, Larry Dwyer

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Analysis of National, State, Regional and Local Tourism Strategies and Plans: Identification of Strategic Issues (Short Version)

Categories: Case Study, Management, Manual, Monitoring & Evaluation, Oceania, Operations, Pacific, People and Places, Planet, Planning, Report
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This scoping study provides an overview of a detailed analysis undertaken on 76 Australian National, State/Territory, Regional and Local Tourism strategies and plans. This study aimed to compile an extensive desk top audit and review in order to create a document database and to identify current issues concerning the Australian tourism industry.

by Char-lee McLennan and Lisa Ruhanen

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Analysis of National, State, Regional and Local Tourism Strategies and Plans: Identification of Strategic Issues (Short Version)

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Analysis of National, State, Regional and Local Tourism Strategies and Plans: Identification of Strategic Issues (Full Version)

Categories: Case Study, Management, Manual, Monitoring & Evaluation, Operations, People and Places, Planet, Planning, Report
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The extended appendix version of the Analysis of national, state, regional and local tourism strategies and plans: identification of strategic issues report contains additional appendices that summarise each of the 76 strategies that composed the sample included in the analysis. These detailed appendices reveal major issues that emerged from each document and shows how the emerging issues were categorised. This version also contains referencing details of all the current strategies and plans that were able to be obtained throughout the course of the intensive literature collection.

by Char-lee McLennan and Lisa Ruhanen

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Analysis of National, State, Regional and Local Tourism Strategies and Plans: Identification of Strategic Issues (Full Version)

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This study aims to assist the development of a future national tourism strategy and research agenda and represents a typical but vital stage of a tourism visioning process. It provides an overview of four industry workshops hosted in late 2008 by STCRC in partnership with Tourism Australia. The workshops brought together 82 key tourism representatives from a broad cross-section of the industry. The goal was to develop a vision and identify key strategic issues, pressing policy objectives and research and development requirements for the Australian tourism industry. In particular, the workshops aimed to ascertain the industry’s opinion on core research priorities and to support the development of a national tourism research agenda, including the medium to long term research priorities that might be relevant to the role of a CRC or similar agency, in the future. It builds on a previous STCRC report Aanalysis of National, State, Regional and Local Tourism Strategies and Plans: Identification of Strategic Issues .

by Char-lee McLennan

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Strategic Issues for Australian Tourism 2008

 

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The objective of this report is to provide a framework for the sustainable development of the travel and tourism industry in the APEC region, through public/private partnerships, and to deliver a sustainability strategy for tourism destinations.

by Terry De Lacy, Marion Battig, Stewart Moore and Steve Noakes

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Public/Private Partnerships for Sustainable Tourism

 

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EC3 Global is an international tourism and environmental management and advisory group founded by the Sustainable Tourism Cooperative Research Centre (STCRC), the world’s largest dedicated research centre specialising in sustainable tourism.    This document outlines EC3 Global’s range of training and capacity programs that support sustainable tourism development and operations for business, communities and destinations.    Options include general sustainability awareness programs as well as skill and knowledge based training in sustainability policy, risk management, strategy and practice.

by EC3 Global

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EC3 Global's Training & Capacity Services

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Following discussions within the Tourism and Climate Change Taskforce in 2007–2008, STCRC decided to undertook a study of the potential adaptations to climate change in five key tourist destinations in Australia: Kakadu National Park, the Cairns region (including the Great Barrier Reef and Wet Tropics rainforest), the Blue Mountains, the Barossa Valley and the Victorian Alps.  The research project examines existing knowledge on anticipated biophysical changes and, through primary research (stakeholder interviews and social learning workshops), gauges the expected adaptive approaches of destination communities and the tourism sector to these changes for 2020, 2050 and 2070. It then estimates likely economic consequences. This technical report presents the research findings in full and supports the summary developed by STCRC.

by Stephen Turton, Wade Hadwen and Robyn Wilson (editors)

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This study documents the likely tourism-related climate change impacts (economic and non-economic) on the Margaret River region for 2020, 2050 and 2070;  identifies and recommends adaptation options and strategies; and refines the model developed in Phase 1, The Impacts of Climate Change on Australian Tourism Destinations: Developing adaptation and response strategies — a scoping study.

by Roy Jones, Angela Wardell-Johnson, Mark Gibberd, Alan Pilgrim, Grant Wardell-Johnson, Jeremy Galbreath, Stephanie Bizjak, David Ward, Kim Benjamin and Jack Carlsen

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