Defining what matters
Materiality assessment and stakeholder engagement
TDF adopted a structured and evidence based approach to identify the ESG topics most relevant to operations, stakeholders, and long-term impact.
The materiality assessment process was designed to ensure that the ESG Strategy is grounded in the expectations of both internal and external stakeholders, while also aligning with national priorities and global best practices.
TDF’s material topics were identified through a three-tiered lens that integrated insights from peers, national stakeholders, and internal stakeholders:
Internal Engagement and Workshops
To ensure a well-rounded and inclusive materiality assessment, the Fund conducted a series of workshops involving both employees and senior leadership. During these sessions, employees evaluated the relevance of ESG topics by rating them based on perceived impact and business value. Subsequently, senior management participated in workshops to prioritise the shortlisted topics, assessing them across each sustainability pillar to ensure strategic alignment with the Fund’s long-term vision.
External Stakeholder Benchmarking and Research
TDF began with a comprehensive external stakeholder benchmarking and research exercise, during which we assessed the relevance and influence of various stakeholder groups on TDF’s mandate. This included benchmarking 30 national stakeholders, 28 tourism sector participants, and 13 global stakeholders. The insights from this benchmarking exercise were instrumental in shaping initial materiality ratings, ensuring they reflect both stakeholder expectations and strategic priorities.
External Stakeholder Engagements:
To deepen the Fund’s understanding, targeted external stakeholder engagements were conducted with 11 national and global stakeholders, including UN Tourism and hospitality operators like IHG. These discussions provided valuable perspectives on sustainability in tourism, which TDF integrated into its materiality assessment to ensure alignment with stakeholder priorities.