Travel + Leisure Co. Highlights Ongoing Commitment to Responsible Global Tourism with Release of New ESG Report

Rhea-AI Summary

Travel + Leisure Co. (NYSE:TNL) has released its 2023 Environmental, Social, and Governance (ESG) Report, highlighting its commitment to responsible global tourism. Key achievements include:

Environmental: 38.6% reduction in carbon emissions intensity since 2010, 2.1 million pounds of resort items diverted from landfills, and over 2 million trees planted since 2009.

Social: 93% retention rate for graduates of learning programs, 28,911 employee volunteer hours, and $122 million spent with diverse suppliers.

Governance: 100% of Diversity Resource Groups sponsored by management, mandatory ethics training for all employees, and ESG oversight by three Board committees.

CEO Michael D. Brown emphasized the company's commitment to sustainable, ethical operations aligned with UN Sustainable Development Goals and stakeholder priorities.

ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL), the world’s leading membership and leisure travel company, today shared its 2023 Environmental, Social, and Governance (ESG) Report. The annual report outlines the company’s progress towards its ESG commitments grounded by the principle of responsible tourism.

Travel + Leisure Co. today shared its 2023 Environmental, Social, and Governance (ESG) Report. The annual report outlines the company’s progress towards its ESG commitments grounded by the principle of responsible tourism. (Photo: Business Wire)

With a mission to put the world on vacation, Travel + Leisure Co. expands its impact beyond business as usual through a commitment to ESG practices and demonstrated integration of these principles into core business operations.

Travel + Leisure Co. 2023 ESG Report highlights include:

• Environmental
  • A 38.6% reduction in carbon emissions intensity per square foot over its 2010 baseline
  • 2.1 million pounds of used resort furniture and appliances diverted from landfills and donated to local nonprofit organizations in 2023
  • More than 2 million trees planted with the Arbor Day Foundation since 2009
• Social
  • 93% retention rate among employees who graduated from learning and development programs
  • Employees spent 28,911 hours volunteering in their local communities through company Wish Day program
  • $122 million spent with diverse suppliers
• Governance
  • 100% of Diversity Resource Groups (DRGs) sponsored by a member of the management Executive Committee
  • 100% of workforce required to complete training related to ethics and integrity
  • Three out of four committees of the Board of Directors oversee aspects of ESG programs 

“Our mission to put the world on vacation is evergreen, and anchored by our commitment to operate sustainably, ethically, and with respect for people and places worldwide. Our 2023 ESG Report demonstrates the significant steps we took to further align our actions with the United Nations Sustainable Development Goals and to support the priorities identified by our stakeholders last year,” said Michael D. Brown, president and CEO of Travel + Leisure Co. “Looking ahead, we will continue to set ambitious goals, measure our progress, and improve our ESG performance. By working collaboratively with our stakeholders, we are striving to create a more sustainable, equitable, and prosperous future for all.”

Inclusive of references to global reporting frameworks including GRI, SASB, and TCFD, and several ESG rating and ranking agencies, the Travel + Leisure Co. 2023 ESG Report shares the company’s progress against environmental and social goals and governance, activated through the Travel + Leisure Co. Full Circle ESG Program. The ESG team also aligned the company’s priorities with industry-leading associations such as the International Tourism Partnership and the World Travel and Tourism Council.

Visit the company’s website to view the 2023 Travel + Leisure Co. ESG Report and learn more about the company’s ESG goals and targets.

About Travel + Leisure Co.

Travel + Leisure Co. (NYSE:TNL) is the world’s leading membership and leisure travel company, providing more than six million vacations to travelers every year. The company operates a portfolio of vacation resort, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they’re traveling the world or staying a little closer to home. With hospitality and responsible tourism at its heart, the company’s 19,000+ dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at travelandleisureco.com.

Forward-Looking Statements

This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are any statements other than statements of historical fact, including statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the future. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “expects,” “should,” “believes,” “plans,” “anticipates,” “estimates,” “predicts,” “potential,” “continue,” "future," "outlook," "guidance," "commitments," "strive," "aim" or other words of similar meaning. These forward-looking statements include, without limitation, statements relating to our plans, goals, and strategies with respect to our ESG practices. Forward-looking statements are subject to risks and uncertainties that could cause actual results of Travel + Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”) to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the risks disclosed under “Risk Factors” in documents we have filed with the SEC, including Part I, Item 1A of our Annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 21, 2024. We caution readers that any such statements are based on currently available operational, financial and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management’s opinion only as of the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240829181056/en/

Investor Contact:

Jill Greer

Investor Relations

(407) 626-4050

Jill.Greer@travelandleisure.com

Media Contact:

Steven Goldsmith

Public Relations

(407) 626-3830

Media@travelandleisure.com

Source: Travel + Leisure Co.

FAQ

What are the key environmental achievements in Travel + Leisure Co.'s 2023 ESG Report?

Travel + Leisure Co. (TNL) reported a 38.6% reduction in carbon emissions intensity per square foot since 2010, diverted 2.1 million pounds of used resort items from landfills, and planted over 2 million trees with the Arbor Day Foundation since 2009.

How has Travel + Leisure Co. (TNL) demonstrated social responsibility in its 2023 ESG Report?

The company reported a 93% retention rate for employees who completed learning and development programs, 28,911 employee volunteer hours through the Wish Day program, and $122 million spent with diverse suppliers.

What governance measures has Travel + Leisure Co. (TNL) implemented according to its 2023 ESG Report?

Travel + Leisure Co. ensured 100% of Diversity Resource Groups are sponsored by management executives, required ethics training for all employees, and established ESG oversight by three out of four Board of Directors committees.

How does Travel + Leisure Co. (TNL) align its ESG goals with global standards?

The company's 2023 ESG Report references global reporting frameworks including GRI, SASB, and TCFD, and aligns with industry associations like the International Tourism Partnership and World Travel and Tourism Council.