Enrolled in the Reactivate Tourism Plan | Building the Future, the 360° Tourism Companies Program was created in November 2021 with the aim of putting companies at the center of the transformation process of a sector that is intended to be more responsible and sustainable, relying on a close public-private partnership with the mission of optimizing positive impacts on the planet, people and the economy. The 360° Tourism Companies Program encourages companies in the sector to report their sustainability performance, supporting them technically in the integration of ESG – Environmental, Social and Governance factors in business strategy, management and organizational culture and guiding them in the process of regular reporting of information related to their environmental, social and governance practices. The project includes a credit line that features mutual guarantee and offers maximum support per operation up to 500 thousand euros. This credit line is targeted towards investment projects focusing on sustainability within the domain of tourism enterprises. As part of this initiative, a performance award is granted, leading to a portion of the funding being converted into non-repayable funds based on the fulfillment of goals tied to reduced consumption, utilization of renewable energy sources, and more effective waste management, among other objectives. Allocating a dedicated budget of 20 million euros for regions with low population density, this initiative is a component of the Tourism Agenda for the Interior introduced in Covilhã on May 9. The credit line now additionally designates a budget of 30 million euros for projects initiated outside these territories. Pertaining to the performance award, companies located in low-density regions enjoy a premium of 20%, while those situated elsewhere benefit from a 10% premium. This credit line is an integral element of the 360º Tourism Companies Program. The overarching aim of this program is to incentivize entities within the tourism sector to adopt an ESG (Environmental, Social, Governance) agenda. Companies are encouraged to assess the environmental and social impacts of their operations while generating value for all stakeholders. The program encompasses businesses ranging from micro-enterprises to larger organizations involved in various tourism activities. Its primary objective is to encourage these entities to embrace the challenges and opportunities presented by non-financial reporting, aligning with the recent European Directive on Sustainability Reporting. Participation in the 360º Tourism Companies Program provides access to tools that aid in handling ESG-related information, including access to sector-specific performance metrics and an innovative technological platform known as FOREST – Organizational Tool and Reporting of Sustainability in Tourism.
