ACS recently partnered with Vital Wave Consulting to present "Transforming Risk into Opportunity: Biodiversity & Ecosystem Services and the Tourism Sector."
Tourism and travel are vital contributors to the global economy, and increasingly important in Emerging Markets. The sector is particularly vulnerable to environmental change. Local communities and activities surrounding tourist destinations drive environmental conditions that can either attract or deter visitors. Given that tourism businesses use natural and cultural resources to create the experiences that they sell, operational risk surrounding local environmental degradation is common. Outcome-based programs are emerging in the environmental sector to encourage local environmental stewardship by explicitly linking it to economic opportunities. Advanced Conservation Strategies is pioneering new, innovative programs that link these incentive frameworks with entrepreneurial and market-based approaches to deliver financially sustainable programs. These programs allow businesses to cost-effectively mitigate their environmental risk, while concurrently providing strong financial incentives for local environmental stewardship. Christina Heyniger of Vital Wave Consulting and Josh Donlan of Advanced Conservation Strategies explore "environmental market" investments as a potential risk mitigation strategy in the tourism sector.