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Tourism Development Fund
العربية

The Road Ahead

Although TDF is at the outset of its ESG journey, the organisation has set ambitious milestones and remains dedicated to achieving meaningful, sustainable impact.

  1. 2024

  2. In-house Target: Activate ESG Strategy

  3. Value Chain Target: Integrated ESG risk into ERM Framework

  4. Value Chain Target: Integrated social and green impact areas into debt product

  5. In-house Target: Full steering committee oversight on ESG strategy

  6. In-house Target: Establish water footprint baseline*

  7. 2025

  8. In-house Target: Enhance ESG disclosure in alignment with ESG reporting frameworks

  9. In-house Target: Full compliance with NRC’s BCP guideline and DGA’s Controls of Risk and BCM

  10. Value Chain Target: Set preliminary targets for ESG integrated debt product covering the full portfolio

  11. 2026

  12. In-house Target: Establish carbon emissions baseline

  13. In-house Target: Be recognised as a regional leader in gender diversity and inclusion

  14. Value Chain Target: Re-evaluate identified impact areas based on market response and changes in strategic vision

  15. Value Chain Target: Revisit impact areas assessment criteria to increase lowest level of commitment

  16. Value Chain Target: Develop sustainable finance framework

  17. Value Chain Target: Validation of qualitative ESG risk integration

  18. 2027

  19. Value Chain Target: Re-evaluate scorecard % split between ESG Health Check and ESG Scorecard

  20. Value Chain Target: Set strategic targets on specific impact areas across portfolio

  21. 2028

  22. In-house Target: Zero waste to landfill

  23. Value Chain Target: Complete integration of ESG criteria into risk assessment framework

NON EXHAUSTIVE LIST

Over the past year, TDF has implemented its ESG strategy, aligning with global frameworks while also supporting national priorities under Vision 2030 and SGI. Building on this foundation, the Fund will continue to strengthen its ESG integration through seven strategic pillars.

  • Implementation & Activation

    Continue the implementation of the ESG strategy by embedding sustainable practices across the Fund’s operations, ensuring alignment with environmental and social goals.

  • Reporting & Communication

    Establish transparent ESG reporting mechanisms and continue communicating performance clearly to stakeholders internally and externally, enhancing accountability and trust.

  • ESG Risk Integration

    Continue incorporating ESG criteria into risk management frameworks to proactively identify, assess, and mitigate ESG-related risks across projects and financing activities.

  • Target Setting

    Define strategic ESG targets for the full portfolio, aligning with key impact areas.

  • Activate Partnerships

    Continue forming strategic partnerships, alliances, and memberships to accelerate transformative ESG initiatives within the Fund and the broader tourism sector.

  • Impact Assessment

    Evaluate the effectiveness of ESG initiatives by measuring outcomes and identifying areas for improvement to maximise positive impact.

  • Sustainable Financing Framework

    Develop a comprehensive framework for green and social loans, outlining the Fund’s approach to financing ESG-aligned projects and promoting sustainable investment.

Through these efforts, the Fund not only enhances its portfolio for ESG-aligned investors but also responds to evolving consumer and partner expectations. In doing so, TDF builds lasting confidence in sustainable tourism investment and helps position Saudi Arabia as a leader in a tourism ecosystem that serves people, protects the planet, and is prosperous for future generations.