erica allis united nations environment programme eleventh caribbean conference on sustainable...
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Erica AllisUnited Nations Environment ProgrammeEleventh Caribbean Conference on Sustainable Tourism DevelopmentMay 9th-13th St. Michael, Barbados
Opportunities for Sustainable Investment and Financing in
Tourism: The SIFT Network
How investment is often done
2
So they build this
People want this
Two Faces of Tourism
3
Sustainability and investment
Tourism is a key sector forthe shift to a Green Economy
5
Why most tourism investment is not sustainable
The Sustainable Investment and Finance in Tourism (SIFT) Network is intended to resolve these problems
Investment and finance challenges on sustainability
Public Sector Private SectorLack of awareness and capacity Integrating sustainability as a relevant
factor for tourism investors Difficulties in integrating environmental, social, and governance issues
Delivering projects and investments on smaller scales
Challenges in driving innovation Demonstrating of positive influence of sustainability on tourism ROI
Lack of policies and guidelines Lack of transparency in claimed sustainable development
Lack of information Availability, knowledge, and acceptance of standard criteria or guidelines
Fragmentation of the tourism industry Developers lack incentives to adopt sustainable criteria
Lack of inter-donor coordination Investment focus on established companies, developers, and providers
The Sustainable Investment and Finance in Tourism (SIFT) Network
Sustainable Investment and Finance in Tourism (SIFT) Network
What is SIFT?
• A network to enable investors, financiers, and destinations to share knowledge and encourage investments in tourism development that is financially, environmentally, and socially sustainable.
What will SIFT do? Facilitate
sustainable investments
Tools to mainstream
Sustainability
Disseminate information
SIFT Stakeholders
SIFT Stakeholders
SIFT NetworkPlanned three steps:
Roadmap for SIFT
$$Projects
Local knowledge
Specialized
knowledge
Private sector buy-in
Criteria and standards
PoliciesProjectsProductsInformed consumers
SIFT and the Global Sustainable Tourism Partnership
Global Partnership
for Sustainable
Tourism
Tourism Sustainability Council (TSC)
Sustainable Investment and Finance in Tourism
(SIFT) Network
Regional Networks
United Nations agencies
and programs
First tools for SIFT
UNEP-WWF investment tool
Input-Output
Model
Environmenta
l Matrix
Forecastin
g Module
Investment Appraisal
Guidelines and sustainability checklist
Private Sector
Businesses
Public Sector
Socio-economic Module
Output Economic, environmental and socio-economic impact results
Output Benchmarking and forecasts
Input Expenditure and sales data
Input Tourist arrivals, expenditure data, employment data
2 3
1
Fig. 1: Schematic Diagram of Proposed Model
UNEP-WWF investment tool
UNEP-WWF investment tool
UNEP-WWF investment tool
UNEP-WWF Investment tool
• Final stages of development• Looking for countries/destinations to pilot
the model
