85% of global companies don’t have credible plans to reduce corporate flying emissions
(Transport and Environment, 15 Mar 2023) World’s largest companies fail to set targets on most climate intensive form of business travel - air travel.
85% of global companies are failing to set ambitious targets to reduce corporate travel emissions, reveals the second edition of a ranking on business travel by The Travel Smart Campaign.
Only 50 companies out of 322 have set targets to reduce business travel emissions. Of the companies who have targets, only four companies receive the “gold standard”, i.e. report air travel emissions and commit to reducing them by 50% or more, by 2025 or sooner. These are Novo Nordisk (Pharmaceuticals, Denmark), Swiss Re (Finance, Switzerland), Fidelity International (Finance, United Kingdom) and ABN Amro (Finance, Netherlands).
In the first ever overview of reporting of non-CO2 emissions related to business flying, the ranking finds that 40 companies are leading the way by reporting all greenhouse gas emissions associated with corporate flights. Pharmaceutical giants AstraZeneca and Pfizer and consulting companies Boston Consulting Group and Deloitte set the example by considering the full impact of flying in their reporting.
The climate impact of business flying extends further than CO2 emissions. On top of CO2, aircraft engines emit other gases – nitrous oxides, sulphur dioxide and water – and particulate matter (soot). These are commonly referred to as non-CO2 emissions, and it is estimated that they account for two thirds of total climate warming from flying. Yet only very few companies reflect the total impact of business flights by accounting for non-CO2 effects.