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 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.
A company with an A score has an absolute reduction commitment for air travel, some of which are aiming for a 50% or higher reduction target by 2025. These companies have been reporting their business or air travel emissions for more than a year. The businesses meet the ranking’s highest standard for corporate travel and set the example for other corporations. Eight companies in the ranking reach that score.