Friday, December 15, 2023
For the fourth consecutive year, Trip.com Group has unveiled its annual Environmental, Social, and Governance (ESG) report, showcasing its dedication to sustainability practices within its operations.
The report’s key insights highlight a growing preference for eco-friendly products and services across the Trip.com Group ecosystem. Over the past year, a remarkable 16 million Trip.com Group customers consciously opted for low-carbon travel options, underlining the company’s commitment to reducing its carbon footprint.
In a significant move towards environmental protection, Trip.com Group introduced its innovative low-carbon hotel standard initiative in 2023. This industry-wide framework collaborates with hotel partners to enhance accommodation sustainability and environmental conservation. Encouragingly, the initiative has already yielded positive results, with more than 1,500 partners being recognized as low-carbon hotels.
In addition to its environmental efforts, Trip.com Group adopts a comprehensive approach to fostering sustainable growth in the travel industry. According to James Liang, Co-founder and Chairman of Trip.com Group, “Our ESG strategies are developed with a primary focus on ensuring top-tier customer service while promoting the sustainable advancement of our industry. We do this through environmentally responsible, family-oriented, community-driven, and stakeholder-friendly practices.”
To invigorate its communities and promote local economic development, Trip.com Group continues to invest in its rural revitalization strategy. This initiative involves constructing upscale accommodations and providing training for tourism professionals, resulting in a substantial growth of Trip.com Group Country Retreats, surging by an impressive 237%.
Each completed Country Retreat triggers the opening of approximately 40 new Bed & Breakfast establishments in the vicinity, leading to a remarkable 122% year-on-year increase in B&B revenue. Furthermore, the annual per-capita income of local residents connected to these Country Retreats has surged by over RMB 40,000, allowing more individuals to establish businesses and secure employment opportunities closer to home, thereby enhancing their overall quality of life.
Trip.com Group is also deeply committed to fostering a family-friendly work environment while prioritizing gender inclusivity and diversity. Currently, female employees constitute over 60% of the total workforce, surpassing the 43% industry average set by the latest Bloomberg Gender Equality Index (GEI). Moreover, more than 33% of Trip.com Group’s managerial positions are held by women, significantly surpassing the 20% average for Internet companies.
To promote work-life balance, Trip.com Group has pioneered a “Hybrid Work Initiative,” becoming the first company in mainland China to do so. This initiative has allowed two-thirds of its employees to benefit from remote work opportunities.
Furthermore, Trip.com Group collaborates with nine travel industry partners to create additional employment opportunities for women within the travel sector through the joint ‘Travel Mulan’ initiative. This endeavor aims to enhance female participation, benefit families, and contribute to the recovery of the travel industry.
Transparency in corporate governance plays a pivotal role in Trip.com Group’s successful execution of its ESG strategy. The proportion of independent directors within the organization has risen from 55.5% to 62.5%. Additionally, the ESG Committee, led by Jane Sun, CEO of Trip.com Group, has established a specialized hierarchy encompassing decision-making, management, and execution to further advance the company’s ESG sustainable development agenda.
Looking ahead, Trip.com Group remains unwavering in its commitment to sustainability and endeavors to create value not only for its customers, industry partners, and employees but also for society as a whole.
“The past year has been a critical year for Trip.com Group in advancing its sustainable development goals. Guided by our principles, we’ve worked with multiple partners across the travel industry to attain these achievements, aligning with the shared vision of the travel industry.”
“Going forward, we will explore strategic approaches to align with our goals, enhancing commercial and social value while supporting our partners and travellers to build a more sustainable future for all,” said Sun.
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