The tourism literature documents substantial evidence on the impact of news-based uncertainty and oil market shocks on the sector. Within the uncertainty and tourism literature, the role of ESG news is a recent emerging area. We consolidate these various strands of research into a unified framework, by employing local projections to estimate their impact on travel and leisure (T&L) stock returns. We consider global and regional (North America; Europe; and Asia) level T&L markets, and our analysis spans 2002m11-2025m6. Our results suggest that rising stock market fear reduces T&L returns over the 5-year forecast horizon, while geo-political risk does so but towards the latter part of the forecast. Interestingly, we find that an increase in sustainability uncertainty generates positive T&L returns, which we attribute to the brown characteristics of the T&L sectors. We also find that oil market shocks provide response functions consistent with economic theory. On one hand, an unanticipated increase in oil supply and global economic activity increases T&L returns, which implies benefits from lower production costs and an increase in demand for T&L services, respectively. On the other hand, an unexpected increase in oil consumption demand lowers T&L returns in the short term, due to more competition for oil which indicates increased cost for these energy-intensive sectors. Our findings are robust to alternative regression specifications based on varying lag lengths. These results have financial management implications for the T&L service sectors.