Why has Sofcom Systems Limited (538923) performed so strongly recently - Free Stock Market Insider Analysis

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Why has Sofcom Systems Limited (538923) performed so strongly recently ✌️【Asset】✌️ Real-time global market indices and futures data to help you capture market opportunities and achieve stable growth. Editor’s Note:This 【 - Free Stock Market Insider Analysis 】 Travel series is, or was, sponsored by the country it highlights. 【 - Free Stock Market Insider Analysis 】 retains full editorial control over subject matter, reporting and frequency of the articles and videos within the sponsorship, in compliancewith our policy.

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“A large draw for tourism is the healthy ocean environment that visitors come to see. Clearly this type of environment must be preserved in order to continue attracting high-spending tourism,” says James Ellsmoor, CEO of Island Innovation, an agency that helps stakeholders in small island destinations – including in the Maldives – achieve sustainable development goals.

Indeed, this nature-based tourism is something of a paradox here. While much of the nation’s 540,000 citizens rely on related revenue for their livelihood, the tourism industry is frequently blamed for exacerbating the environmental crisis. Maldives resorts claim high energy and resource demands, and turn out excess waste production – and perhaps most grievously, are dependent upon emissions-heavy, long-haul flights to bring the tourists in.

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Plus, some resort initiatives, like those toward clean energy infrastructure, are also good for their bottom line.

“The high cost of importing fuel to power noisy, polluting generators simply does not make sense when compared to the much lower cost of solar, wind and battery storage,” says Ellsmoor.

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Historically, much of the nation’s waste has been poorly managed, relegated to open burn pits or disposed of at sea, creating air pollution, damaging the marine ecosystem, and/or washing back ashore in the process. Thankfully, the government has taken steps to remedy these issues.

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Eco-pioneeringSoneva Resorts, for instance, which operates two properties in the Maldives, has a robust composting program and also operates their Eco Centro – an on-site waste-processing facility that recycles around 90% of the resorts’ plastic, aluminum and glass waste.

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Fairmont Maldives, meanwhile – which aims to be the “first zero-waste-generating resort” in the country – launched its Sustainability Lab earlier this year, which likewise focuses on reimagining resort- and ocean-salvaged plastic, glass and aluminum waste into tourist keepsakes and local products (like turtle-shaped luggage tags and stationary for area schools).

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One resource that the tropical Maldives has in abundance is sunshine, offering a path to renewable solar energy generation that more resorts are looking to tap into.

In 2018,Kudadoo Maldives Private Islandbecame the first resort in the country to be fully solar-powered, thanks to nearly 1,000 solar panels that cover the rooftop of “The Retreat” (a hub for dining, wellness, and retail).

Other properties that have integrated substantial solar projects includeDusit Thani Maldives, where solar panels blanket the roofs of main resort buildings; TheRitz-Carlton Maldives, Fari Islands, which operates mainly on solar (guest villas come capped with panels); andLUX* South Ari Atoll, which claims the world’s largest floating solar power plant at sea (bonus: the eco-friendly solar platforms provide a sort of artificial reef for marine life).

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Patina Maldives, Fari Islands, bills itself as “purveyors of conscious cuisine,” with an on-site organic permaculture garden that’s open to guest foraging; zero-waste kitchens; dining menus that promote plant-based diets; and an in-house water-bottling facility.

Guests dining at the Zero restaurant atSun Island Resort & Spa, meanwhile, are promised a nearly zero-food-mile dining experience, with an emphasis on produce plucked from the hotel garden and fishermen-fresh seafood – all served at a table tucked into the treetops.

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“Travelers are looking for more local experiences, as they want to feel that they are contributing to local communities,” she says, noting that, today, such resort sustainability initiatives are simply “a must in order to even start engaging a potential guest.”

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Other impressive resort conservation programs include those led by theCoco Collection, with two Maldives properties behind the veterinarian-led ORP Marine Turtle Rescue Centre and a team of resident marine biologists in charge of ocean restoration. Guests can join in on coral tree planting outings, participate in reef cleanups, or even help rehabilitate rescued turtles.

Gili Lankanfushi, meanwhile, will launch a new Marine Biology Center later this year with a dedicated research space and expanded coral regeneration program, where guests can participate in hands-on coral reef cleaning and rehabilitation and study conservation alongside resident marine biologists.

In the end, van Well says, with the rise of more conscious consumers, the Maldives resort’s job is to provide guests “tips and some of our little secrets on how to lead a more sustainable life that they can take home with them – and this takeaway is highly valued and appreciated by our guests.”

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