Valamar will become a carbon-neutral company in the next three years

Valamar Riviera, within its Integrated Annual Report for 2021, announced its sustainability strategy and ESG goals for 2025. This is a comprehensive plan that consolidates 12 key objectives in the areas of environment (E), society (S), and governance (G) that Valamar plans to achieve through 6 strategic initiatives by 2025.

Of the 12 key objectives highlighted in Valamar’s ESG strategy for 2025, seven relate to the environment, three to society, and two to governance.

When it comes to the environment, Valamar will continue to reduce greenhouse gas emissions, with a plan to achieve carbon neutrality in scope 1 and 2 by 2025. The goals include producing 15 percent solar electricity and 100 percent electricity from renewable sources, protecting and managing the quality of the sea in all Valamar destinations, investing in coastal biodiversity, and protecting 80,000 trees as well as hundreds of hectares of greenery around Valamar’s facilities. A recycling rate higher than the EU average, low water extraction intensity, and the elimination of single-use plastics are also highlighted.

Among the objectives related to society, the emphasis is on employing and retaining local employees and a high share of domestic production and local products in the food and beverage segment of 80 percent. Valamar will invest 50 million euros in destinations and social impact by 2025.

In the governance section, the goals include 80 percent procurement from responsible suppliers and 100% of facilities with sustainability certifications.

– Valamar’s sustainability strategy has clear, measurable, and ambitious plans and goals that we intend to achieve by 2025. As a leader in the use of renewable energy sources in Europe, Valamar can achieve carbon neutrality in the next three years and become an example of sustainable business in tourism in the Mediterranean. Strategic investments in sustainability will amount to around 50 million euros, focusing on the development of human resources in tourism, destinations, tourist infrastructure, sustainable and local suppliers, circular economy projects, and biodiversity protection – said Ivana Budin Arhanić, a member of the Management Board of Valamar Riviera.

Sustainability has already been one of the strategic priorities of the Valamar Group. Since 2015, Valamar has reduced its carbon footprint by 70 percent and invested 65 million euros in sustainability and social development programs, with an emphasis on investments in renewable energy sources and energy efficiency, tourist infrastructure, as well as numerous programs for employees, society, and community support.

Valamar has been recognized as a leader in environmental protection and sustainable tourism and has received significant domestic and international awards. This season, the Valamar Amicor Green Resort is opening in Hvar, the first green eco-resort in Croatia. The results achieved so far have also been recognized internationally – the Financial Times recently included Valamar on the list of climate leaders in Europe, as one of two companies from Croatia and one of only six companies from the tourism sector on that list.

Valamar is the first tourism company in Croatia to integrate sustainable development into business management and development and to announce sustainability goals according to the ESG framework by 2025.