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Tourism Development Fund

Enabling the Implementation

The implementation of the ESG Strategy is structured around two core facets.

The first focuses on in-house operations, encompassing ESG initiatives and internal targets designed to embed sustainability within TDF’s own practices - ensuring the organisation leads by example.

The second facet addresses the value chain, with initiatives aimed at integrating ESG considerations into TDF’s fund portfolio and risk management framework.

Building on the insights gained from the materiality assessments and stakeholder consultations, the Fund’s ESG Strategy outlines key milestones that will guide TDF’s efforts in sustainability. These milestones include the activation of ESG reporting, integration of sustainable finance, development of environmental baselines, adoption of international standards, and the implementation of ESG risk assessments. By 2028, TDF aims to achieve full ESG integration across its operations and portfolio, including targets such as zero waste to landfill and recognition as a leader in gender diversity and inclusion. This implementation plan serves as a practical guide to operationalising the ESG Strategy and delivering measurable impact over time.

The Fund acknowledges that the ESG landscape is continuously evolving, shaped by dynamic market conditions and an increasingly sophisticated regulatory environment. In recognition of this, the ESG Strategy is designed to be a living framework - flexible and responsive to emerging needs and expectations. TDF conducts a formal annual review to ensure that its targets, priorities, and initiatives remain aligned with the latest ESG developments. This ongoing review process enables the Fund to revisit and update its approach regularly, reinforcing its commitment to continuous improvement and long-term sustainability leadership.

Aligned with the five-year Implementation Roadmap, the year 2024 marked the first phase of implementing TDF’s ESG Strategy. Implementation efforts were coordinated across various departments, each contributing through targeted initiatives, under the guidance of the Strategy team. This collaborative approach ensured that ESG principles were actively integrated into the Fund’s organisational practices and funding processes.

The Fund successfully achieved 40% of its ESG strategy implementation, setting a strong foundation for continued progress toward its 2028 sustainability goals.