Sandals Resorts’ commitment to Environmental, Social, and Governance (ESG) programs is a core value for the leading hotel brand. The organization’s objective also includes being the voice supporting regional relationships between governments and the private sector, as well as the standard for a corporate ESG framework.
Sandals Resort’s Chief Experience Officer Jessica Shannon, together with a panel of change-makers, recently spoke on the topic, Transforming from the Inside Out: The future of ESG reporting and governance was discussed during the Island Finance Forum 2023: Investment for Sustainable Development, which Island Innovation convened and Price Waterhouse Coopers (PwC) sponsored.
Cheryl Senhouse, Finance Innovation Director at Caribbean Climate-Smart Accelerator, Tisha Marajh, Senior Manager and Group Sustainability Officer, Republic Bank, and Gillian Charles-Gollop, Executive Director, Corporate Banking and Sustainable Finance at CIBC First Caribbean joined Shannon on the panel. Ronaele Dathorne-Bayrd, Partner Regional Tax and Legal Services Leader, PwC East Caribbean, and Lisa Kadirulla, Corporate Services Senior Manager, PwC East Caribbean, moderated the panel.
According to Dathorne-Bayrd, the conversation is a critical topic for private organizations and has a significant role in driving their effect in the business world.
Shannon stated in her speech that Sandals has taken an unconventional approach, saying, “our founder Gordon ‘Butch’ Stewart was a visionary who recognized that any sustainable model required ESG.” This has been critical for the organization, and we have had fantastic support from our leaders. We understand that any threat to the framework is a serious concern for our (company) and any firm in general.”
Sandals has shown concern for the region’s sustainability since its inception. Sandals acquired their first EarthCheck certification in the early 1990s, the world’s top science-based environmental certification and benchmarking program for the travel and tourist industry. To date, all Sandals and Beaches properties are EarthCheck certified, with some already achieving Platinum and even Master Status, EarthCheck’s highest honor. The successful implementation of key entities such as the Sandals Foundation, the resort chain’s philanthropic arm, which continues to make a significant difference in the Caribbean by funding impactful and meaningful initiatives in education, community, and the environment, contributed to the focus on ESG.
Capacity building for the company’s team members is also important, according to Shannon, and it has resulted in significant business benefits. “In 2012, the company launched the Sandals Corporate University, giving team members ongoing access to learning, with some 34000 certifications issued in the last 11 years,” she said.
Sandals has established itself as a center of excellence by demonstrating the importance of ESG on a global scale. “We recognize the value of collaboration and look forward to further collaboration.” “Our Executive Chairman (EC), Adam Stewart, is the chair of the Tourism Linkages Council in Jamaica,” Shannon added. The Council is made up of major public and private sector partners that oversee the development and implementation of effective and long-term plans to strengthen and promote links across the economy’s productive sectors.”
Shannon advised firms just starting out on their ESG path to “make sure you have all your stakeholders on board.” This will be a culture shift, and you must choose what is important and aligns with company strategies.” She went on to say that reporting is vital as well: “being able to measure performance and properly report it is important.” Ensure that it is viewed as a business need rather than a “nice-to-have.” It makes strong business sense to commit to the ESG framework.”
