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

This study investigates the potential recognition and engagement of the natural environment as an important factor in strategic investment decisions by accommodation suppliers in a small island context. The investigation, based on empirical data from two Thai islands, Koh Tao and Koh Phi Phi, contributes to the debate if the environment, by focusing on climate change, can be identified as a primary stakeholder for accommodation suppliers. The findings show that strategic investment decisions are influenced by impacts commonly associated with climate change, although a conscious recognition of climate change as a strategic stakeholder or important factor in strategic investment decisions could not be confirmed. Conversely, the element of unconsciousness in the process of recognising climate change in investment decisions sparks questions regarding the degree to which the recognition of business stakeholders requires being a conscious process and if the focus on investments could be another element for stakeholder identification frameworks for businesses.