Sustainability is an essential concern in today’s business landscape, according to Katarina Tesarova, the chief sustainability officer at Las Vegas Sands. She emphasizes that in sectors like gaming, integrated resorts, or hospitality, sustainability is becoming indispensable. “The business world is evolving,” she notes. “With increased scrutiny, voluntarily or involuntarily, we will eventually have to meet ESG-related requirements.”
Tesarova highlights that Las Vegas Sands’ sustainability plan is simplified into clear, easy-to-grasp pillars. Historically, industries such as gambling were often labeled as ‘sin industries,’ and many still view them this way. Thus, incorporating sustainability can help reframe these perceptions by educating diverse stakeholders on industry nuances.
She argues that major industry players are comparable to—or even outperform—other sectors in meeting ESG standards. Beyond stringent regulatory requirements, the gaming industry is exceptionally attuned to the interests of its stakeholders, given its services’ nature.
### Las Vegas Sands’ Sustainability Strategy: Focus on Planet, People, and Communities
Tesarova explains that Las Vegas Sands approaches ESG strategically but differently than traditional models. They organize their strategy around relatable areas for stakeholders: the planet, people, and communities, supported by a foundation of governance. This approach helps bridge the gap for stakeholders, especially team members, who may not fully grasp the complexities of ESG. By focusing on ethical practices concerning the planet, people, and communities, Las Vegas Sands aims to garner widespread support.
This framework also aids in prioritizing ESG elements based on their business impact. Regardless of location or reporting obligations, the company must adhere to these sustainability standards. Initially, their strategy emerged from scattered projects across the industry. Tesarova and her team consolidated these efforts into a structured ESG framework, streamlining initiatives into a unified and effective strategy.
Determining which projects to focus on was crucial, supported by regular input from leadership. “Our leadership has always viewed sustainability as vital,” she says. This top-down support reinforces its importance throughout the company.
### ‘Companies with Strong ESG Practices Often Perform Better’
Tesarova extends this discussion to the investment community, suggesting that companies excelling in ESG typically outperform others. “There seems to be a correlation,” she observes. For her industry, doing right by stakeholders equates to creating value for shareholders.
“When our employees see that we care about the planet, people, and communities, they align more closely with our values. This alignment results in better service, returning customers, and ultimately increased shareholder value.”
Tesarova expresses her gratitude for Las Vegas Sands’ recognition in FiNTEL Sustain’s Sustainability Plus rankings. “I’m proud of our company and team for creating impactful programs,” she says. Despite not focusing heavily on promoting their sustainability efforts, their accomplishments have been noticed and acknowledged by external organizations, which she finds gratifying.
*This year, iGB has showcased the top companies in FiNTEL Sustain’s Sustainability Plus rating system. Explore the full list [here](https://igamingbusiness.com/tag/fintel-sustain-sustainability-plus-rankings-2024/). Watch an exclusive interview with FiNTEL Sustain founders Robert Montgomery and Steven Myers [here](https://igamingbusiness.com/sustainable-gambling/inside-fintel-sustain-industry-first-sustainability-rankings/).*