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This comprehensive review evaluates the environmental and social governance (ESG) performance of companies within the travel sector on a global scale, with the primary objective of enriching the existing knowledge base on sustainable business practices and providing actionable recommendations for enhancing ESG performance. By analyzing a wide range of sectors—including tourism companies, destination management companies (DMCs), travel agencies, airlines, entertainment providers, cruise ships, financial institutions, railways, and food and beverage companies—this study offers a thorough assessment using reliable secondary data from different sources. The research delivers critical insights into the current status of ESG practices worldwide, identifying significant areas for improvement and offering sector-specific strategies to address these gaps. The findings underscore the urgent need for enhanced sustainability and responsible business practices in the travel industry, highlighting the importance of integrating ESG initiatives into core business strategies to ensure alignment with global sustainability goals and to maximize financial outcomes. Additionally, the study emphasizes the necessity of transparency and third-party verification of ESG practices to combat greenwashing and establish trust with stakeholders, thereby fostering a more sustainable and ethically responsible global travel industry. This review also comes up with suggestions like adopting frameworks like the GRI and aligning with the UN SDGs can drive continuous improvement, reduce risks, and provide long-term value for stakeholders and highlights the positive impact of strong ESG performance, identifying key drivers, barriers, and best practices, and offering actionable recommendations for sustainable change in the travel industry.