Board Sustainability Governance and Environmental Citizenship in Global Hospitality Firms: Associations with Environmental Performance and Firm Value

Hospitality and tourism firms are central actors in sustainable tourism transitions because their operations are resource intensive and highly visible to consumers and local communities. This study examines whether board-level governance mechanisms—board independence, gender diversity, a sustainability committee, CEO duality, and board size—are associated with environmental performance, and whether environmental performance is related to firm value in global hospitality firms. Using a panel of 10 large publicly traded hospitality companies across North America, Europe, and Asia from 2013–2022 (100 firm-year observations) and fixed-effects estimation, we find positive associations between board independence, board gender diversity, and the presence of a sustainability committee and environmental performance, while CEO duality is negatively associated. Environmental performance is positively associated with firm value (Tobin’s Q) after controlling for profitability and firm size. Because the sample is intentionally bounded to large listed firms and the Refinitiv Environmental Pillar Score is disclosure based, the results should be interpreted as sector-specific associative evidence rather than as definitive causal estimates of operational environmental outcomes. To support longitudinal research on emerging practices in sustainable tourism, we also document a public-source protocol that enables researchers to extend the panel beyond 2022, broaden firm coverage, and incorporate direct environmental indicators over time. The findings highlight board sustainability governance as a potentially important private-sector practice for strengthening environmental citizenship in hospitality, while also clarifying the measurement and generalizability limits of the present design.