The increasing global interest in sustainable tourism also affords opportunities for investment in the sector and aligns with IDB Invest’s overall focus on sustainability.
We want to support those projects that advance the tourism industry in the right direction, challenge the status quo and introduce pioneering initiatives with strong demonstration effect so we can help our clients take the tourism sector to another level and make a difference.
Tourism and lodging companies with a strong sustainability mandate have a clear edge in today’s travel and hospitality market. In the case of business travel, corporations increasingly favor hotels that feature high sustainability standards, and there is growing evidence that leisure travelers are also drawn to environmentally conscious establishments.
Latin America and the Caribbean need to adapt their hospitality infrastructure to meet this growing trend—not only to respond to consumer preferences, but because it is the right thing to do for the environment. At present, the region has only a few dozen hotels that have obtained LEED certification (a rating system that evaluates the environmental performance of a property and encourages sustainable design). Other environmental excellence programs that can be adopted include Green Leaf, Green Globe and Stay Well.
At IDB Invest, we finance the development of green hotels, invest in climate-resilient infrastructure and promote biodiversity conservation. We offer a range of financial products that complement those offered by local banks—including, in some cases, blended finance for investments in climate change adaptation and mitigation.
One factor that sets IDB Invest apart is the wide spectrum of advisory services we provide to help our clients become more sustainable and competitive. For instance, we offer:
- technical assistance to improve efficiency in energy and water use and support for green building certifications
- assistance in incorporating energy self-supply from renewable sources
- climate risk assessment and biodiversity and ecosystem appraisals
- shared value appraisals to enhance value chains and promote inclusion of vulnerable groups such as youth, women and indigenous people
- gender appraisals to encourage workplace equality and diversity
With our geographical presence throughout the region and the IDB Group’s breadth of experience in the tourism sector, IDB Invest is well positioned to provide a full range of products and services to support sustainable tourism.