Amex GBT launches new emissions-based carbon pricing
American Express Global Business Travel (Amex GBT has rolled out of integrated emissions-based carbon pricing solution.
This enables customers to pick a carbon calculation methodology to apply a carbon fee to their air travel.
These fees can be visible to business travelers as they shop and can appear on their invoice, helping companies inform employees about their carbon impact and corporate sustainability initiatives.
Some Amex GBT clients already use carbon pricing to apply flat or dynamic fees.
With the tech enhancements announced, 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 & development (R&D), and more.
Travelers pick a carbon calculation methodology and put a price on carbon using the new emission-based fee, with a flat or categorical fee. Then, grow a fund for sustainability initiatives, such as SAF, or EVs.
Carbon pricing can be an effective and efficient way to create a self-sustaining funding stream for carbon reduction initiatives.
It also aligns carbon pricing with the emissions specific to a traveler’s flights at point of sale and can = incentivize more sustainable economic decisions.
Lucian Alexandru, Global Procurement Category Head, Sanofi, said: “Emissions-based carbon pricing enables us to combine economics, sustainability and technology to strengthen our business travel program and boost funding.”
John Sturino, SVP of Product and Engineering, Amex GBT, added: “Carbon pricing is a proven mechanism that can help companies make progress towards their sustainability objectives. Our software can now help customers place a price on carbon and direct investment toward lower-carbon solutions.”
More details on carbon pricing with Amex GBT can be found here.
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