Too few businesses pledge to reduce business flying, new corporate ranking finds

(Transport and Environment, 10 May 2022) A new ranking of 230 global companies by Transport & Environment (T&E) and Stand.earth shows that 193 businesses fail to act with sufficient speed and ambition to tackle corporate travel emissions.

A new ranking of corporate air travel reveals that work is underway to reduce emissions by businesses, but more action is needed. Eight companies, including Zurich Insurance Group, Lloyds Banking and Ernst & Young rank highest for their corporate travel emissions reduction plans. Zurich Insurance has pledged to reduce business travel by 70% by 2022. Lloyds Banking will reduce corporate flying by 50% by 2021 and Ernst & Young by 35% by 2025. 

The ranking, launched as part of T&E and Stand.Earth’s new Travel Smart campaign, grades 230 US and European companies according to nine indicators, relating to emissions reduction targets, reporting and air travel emissions. The analysis sheds light on the significant efforts certain global businesses have still to make to reduce their corporate travel emissions. Out of the 230 companies, 193 fail to act with sufficient speed and ambition to tackle corporate travel emissions. 

The likes of Vodafone, Renault & L’Oréal have all made company-wide emissions reductions targets but no commitment to reduce corporate air travel emissions by a certain date. They could be encouraged to make ambitious business travel commitments in line with the reduction they experienced in 2020, helping to reduce global greenhouse gas emissions in line with 1.5°C warming scenarios. Businesses like Google, Facebook and Microsoft lie in the ranking’s lowest category and must accelerate their transition to becoming smart travelers, T&E says.  

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Transport and Environment, 10 May 2022: Too few businesses pledge to reduce business flying, new corporate ranking finds