TORONTO — American Express Global Business Travel (Amex GBT) has launched a new emissions-based carbon pricing as part of its ongoing sustainability goals.
With the new solution, which some Amex GBT clients are already using to apply flat or dynamic fees, customers can pick a carbon calculation methodology to apply a carbon fee to their air travel. These fees can be visible to business travellers as they shop and can appear on their invoice, helping companies inform employees about their carbon impact and corporate sustainability initiatives.
With the technology enhancements, customers can now track the carbon emissions specific to their flights and funnel investment towards sustainability initiatives. A price on carbon can create a self-sustaining fund for decarbonization projects such as sustainable aviation fuel (SAF), electric vehicles (EVs), research and development (R&D) and more.
How it works:
- Step 1: Pick a carbon calculation methodology
- Step 2: Put a price on carbon using the new emission-based fee, a flat or categorical fee
- Step 3: Grow a fund for sustainability initiatives (ie. SAF, EVs, R&D)
On why carbon pricing matters, John Sturino, SVP of Product and Engineering, Amex GBT, said: “Carbon pricing is a proven mechanism that can help companies make progress towards their sustainability objectives. Our innovative software can now help customers place a price on carbon and direct investment toward lower-carbon solutions, empowering them to make more informed decisions and address their carbon footprint.
More details on Amex GBT’s environmental progress can be found in its 2023 ESG report and in ‘Measuring Impact: Air Travel Carbon Emission Calculations.’
