TAT and AWC Celebrate Global Recognition for Thai Tourism: AWC Earns World's Top Ranking in Industry, Achieving Number 1 score and Top 1% Placement in S&P Global's The Sustainability Yearbook 2024

07 February 2024

Bangkok, 7 February 2024, Tourism Authority of Thailand (TAT) and Asset World Corp Public Company Limited (AWC) have embarked on a journey towards elevating Thailand's tourism to unprecedented levels of sustainability since 2022. Building upon the commitment, the AWC Stay to Sustain project was launched in 2023, inviting global travelers to contribute to Thailand's sustainable future. Now, AWC has achieved a historic milestone for Thailand on the global stage, achieving the No. 1 sustainability score in the Hotels, Resorts & Cruise Lines industry and Top 1% (Gold Class), as announced by S&P Global in The Sustainability Yearbook 2024. This achievement not only aligns with TAT’s strategy for sustainable tourism but also elevates the reputation of Thailand as a sustainable tourism destination. As the Thai company to achieve the highest sustainability score among leading global organizations, this achievement reflects the mission of 'Building a Better Future' under the sustainability framework of 3BETTERs: BETTER PLANET, BETTER PEOPLE, and BETTER PROSPERITY. AWC aims to foster sustainable growth for all stakeholders and position Thailand as a global destination for sustainable tourism.

Ms. Thapanee Kiatphaibool, Governor, Tourism Authority of Thailand (TAT), said that "TAT is delighted that its strategy has positioned Thailand as a destination for sustainable tourism, aims to enhance the competitive edge of the Thai tourism sector and appeal to global tourists who prioritize sustainable travel. It stands as a testament to the synergy with AWC's unwavering commitment to driving world-class sustainable destinations. AWC has achieved the No. 1 sustainability score in the industry, setting an exemplary model for entrepreneurs and the Thai tourism industry on the global stage. This accomplishment emphasizes the importance of sustainable tourism across all dimensions, including economics, society, and environment, aligning seamlessly with TAT's operational guidelines to support tourism business operators in the country through the 'Sustainable Tourism Acceleration Rating project (STAR),' encompassing all 17 Sustainable Tourism Goals (STGs). Together with fellow tourism entrepreneurs, we are dedicated to collectively advancing sustainability within Thailand's tourism industry.”

Mrs. Wallapa Traisorat, President and Chief Executive Officer of Asset World Corp Public Company Limited (AWC), said that "AWC takes great pride in the power of synergy among partners who share a vision to create a sustainable tourism industry, culminating in the achievement of being ranked number one in the world in the industry by S&P Global and securing Top 1% (Gold Class) in The Sustainability Yearbook 2024. This success builds on our inclusion in the Dow Jones Sustainability Indices (DJSI) 2023 in Emerging Markets. Through collaboration with partners in the government, private sector, and global stakeholders in the tourism industry, who work alongside AWC to propel sustainable tourism for Thailand in various dimensions, we aim to foster long-term value for all stakeholders. AWC also leverages sustainability practices from TAT’s 'STAR' benchmark and incorporates world-class sustainability standards from S&P, along with jointly developed standards for sustainable tourism with partners in various sectors. These efforts contribute to enhancing the sustainability of the organization across all dimensions of ESG - environmental, social, and corporate governance. By implementing processes and projects dedicated to sustainability, AWC strives to create long-term value for the industry and Thailand towards a better future.”

“AWC extends its gratitude to TAT as a pivotal government organization actively supporting Thai entrepreneurs in the pursuit of sustainable tourism. Aligned with AWC's operational guidelines, all 25 properties under AWC have received STAR certification from TAT to date. Additionally, AWC would like to express its gratitude for the collaborative efforts of partners, executives, and employees who played a crucial role in working together toward a shared goal, advancing sustainable development in the real estate and tourism industry to contribute to Thailand as a global sustainable tourism destination.”

In 2023, AWC undertook various sustainable projects, including collaborations with the TAT and the Mae Fah Luang Foundation under the Royal Patronage, aiming to set a new benchmark for sustainable tourism. A significant initiative was the launch of the "AWC Stay to Sustain" project, where every night's stay at AWC’s affiliated hotels allowed guests to contribute to community forest restoration and improve the livelihoods of local communities. Additionally, AWC partnered with leading banks to sign sustainable loans to increase the proportion of long-term credit facilities tied to sustainability to 100%, geared towards building a sustainable future for Thailand.

Furthermore, AWC is promoting sustainable tourism through its real estate properties. This includes the opening of the "INNSiDE by Meliá Bangkok Sukhumvit", which has been certified under the EDGE standard. The certification recognizes a 31% reduction in energy and water consumption and a 38% reduction in the energy used for material production in the building. AWC emphasizes selecting environmentally friendly electrical appliances for guest rooms. In addition, AWC supports Chiang Mai in becoming a global sustainable tourism destination by opening the "InterContinental Chiang Mai Mae Ping Hotel", the first hotel in Chiang Mai to receive certifications for LEED standards in building design and construction and the WELL Health-Safety Rating.

The Sustainability Yearbook is an annual report by S&P Global, gathers data from global investment firms. Widely used for investment decision-making, it measures businesses' performance in economic, social, and environmental aspects, involving over 9,400 leading companies worldwide.