Stock-Green-Finance
The methods are available for corporate travelers and their employers to track their sustainability practices. The important thing is to follow these methodically. Image Credit: Shutterstock

From businesses to buildings, flights to hotels and holidays, everyone realises the growing need to be more conscious in thought and action about what’s good for our planet’s future.

Corporate travel has not been exempted from the wave of sustainability - rightly so. As businesses strive to reduce their environmental footprint and promote responsible travel practices, several trends have emerged.

For one, there’s a lot more AI-driven tech out there that optimises travel plans and routes, making them more efficient and environmentally-friendly. Secondly, corporate travellers are now prioritising sustainable accommodations, such as hotels that adhere to green building standards or that have comprehensive environmental policies. There is also a shift to eco-friendly transportation options like electric or hybrid rental cars and opting for trains instead for shorter trips.

Another factor that’s been an ongoing measure for most travel tech companies is their focus on minimising their carbon footprint by investing in carbon offset programs; supporting renewable energy projects, reforestation, any initiative that helps counterbalance the carbon emissions generated by business travel.

There are advanced data analytics tools that help companies track their carbon footprint from travel activities. This allows businesses to identify areas for improvement, set sustainability goals, and report their progress transparently.

Corporate travel management platforms are making leaps in integrating sustainability features onto their UI/UX. They can highlight flights with lower emissions, suggest accommodations with sustainable practices, and even recommend ground transportation alternatives like electric or hybrid vehicles.

Undoubtedly, there is a notable expansion of eco-friendly infrastructure, such as green hotels and sustainable transportation options. Companies are using corporate travel platforms along with advanced travel management systems, virtual collaboration tools, and data analytics platforms to enhance sustainability efforts.

In the Middle East specifically, we see a great balance of rapid development with environmental stewardship:

UAE's green economy

This includes promoting sustainable practices across various sectors, including tourism, through initiatives that encourage energy efficiency, green building standards, and the adoption of clean energy sources.

Eco-friendly transportation projects

The UAE is expanding its EV charging network, and Saudi Arabia is developing a high-speed rail network to provide sustainable transportation options. There are multiple ways that corporate travel platforms can make life easier for their clients in the sustainable travel space.

For starters, provide tools that allow companies and travellers to track the carbon emissions associated with their travel. This can include dashboards and reports that show the environmental impact of flights, accommodations, and ground transportation, helping businesses measure and manage their carbon footprint.

Secondly, corporate travel platforms should be able to enable companies to integrate their sustainability policies directly into the platform, ensuring that travellers adhere to corporate guidelines for sustainable travel.

These platforms should be able to provide robust reporting and analytics tools that enable companies to monitor their travel-related environmental impact. These tools can help businesses set sustainability targets, track progress, and identify areas for improvement.

Interestingly, the demand from corporate clients for carbon footprint tracking to be built-in to the dashboards that corporate travel platforms offer, is going to double. Because many companies are setting ambitious sustainability targets, including net-zero carbon emissions.

To achieve this, businesses need accurate data on their carbon footprint, particularly from their corporate travel, which is often a significant contributor to corporate emissions. This will also help them identify areas where they can improve efficiency and reduce costs. Optimising travel itineraries to reduce emissions can also lead to savings on travel expenses.

Of course, there will be pushback and we foresee several pain points and challenges when integrating sustainability into organization travel programs.

Data collection and analysis

Many companies struggle with integrating data from multiple sources, such as airlines, hotels, and ground transportation providers, into a cohesive system for analysis and reporting.

Balancing cost and sustainability

Sustainable travel options can sometimes be more expensive than traditional choices. Convincing stakeholders to invest in long-term sustainability initiatives that may have upfront costs but yield savings over time can also be difficult.

Despite these challenges, it's crucial to understand that sustainability is no longer just a CSR initiative—it's a critical, measurable strategy for addressing pressing global issues.