The environment and climate change as a primary stakeholder for accommodation suppliers: Stakeholder engagement for Koh Tao and Koh Phi Phi, Thailand

Abstract

This study investigates the potential recognition and engagement of the natural envi-ronment as an important factor in strategic investment decisions by accommodationsuppliers in a small island context. The investigation, based on empirical data fromtwo Thai islands, Koh Tao and Koh Phi Phi, contributes to the debate if the environ-ment, by focusing on climate change, can be identified as a primary stakeholder foraccommodation suppliers. The findings show that strategic investment decisions areinfluenced by impacts commonly associated with climate change, although a con-scious recognition of climate change as a strategic stakeholder or important factor instrategic investment decisions could not be confirmed. Conversely, the element ofunconsciousness in the process of recognising climate change in investment deci-sions sparks questions regarding the degree to which the recognition of businessstakeholders requires being a conscious process and if the focus on investmentscould be another element for stakeholder identification frameworks for businesses.