The Travel Corporation introduces verified net zero science-based targets
Operator also unveils internal carbon fund to cut greenhouse gas emissions
The Travel Corporation (TTC) says it has become the first global tour operator to introduce verified net zero targets validated by the Science Based Target initiative (SBTi).
The company, which operates 40 brands including Trafalgar and Insight Vacations, submitted its targets to the SBTi in May.
TTC company has also launched an internal carbon fund to help it to achieve net zero by 2050.
It said the moves are part of “a major reset” to its Climate Action Plan and have “accelerated” its original climate action commitments.
The new approach prioritises carbon reductions and eliminates the use of offsets. Furthermore, TTC’s not-for-profit foundation, TreadRight, will prioritise nature-based solutions, in support of its three pillars: “Planet, People and Wildlife”.
Shannon Guihan, TTC chief sustainability officer and head of TreadRight, said: “Our focus is to identify a way forward that marries what the science is telling us with solutions to enable our decarbonisation.
“We need to reduce our emissions and the surest way to do that is through direct investments into our business and our operations.
“The Carbon Fund, in concert with our TreadRight Foundation, enables us to invest in decarbonisation in two ways: by utilising the Carbon Fund to reduce the emissions we produce, and by prioritising financial support for nature-based solutions through TreadRight.”
TTC launched its sustainability strategy, How We Tread Right in 2020, setting a goal to be carbon neutral by 2030. Its climate goals have been backed by a five-point Climate Action Plan to measure, reduce, remove, offset and evolve.
In the time since the organisation announced plans to become carbon neutral, its focus has been on decarbonisation,” appreciating that emitting less carbon into the atmosphere is the most effective means to address climate change”.
Now, TTC’s Climate Action Plan has been reset to four points: Measure, Reduce, Restore and Evolve – replacing ‘remove’ and ‘offset’ with ‘restore’.
Luiz Amaral, chief executive of the Science Based Targets initiative, said: “The Travel Corporation’s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”
The carbon fund will be generated through revenue from TTC brands that will be used solely for initiatives that contribute to TTC’s net zero journey.
Pictured: The living wall at Red Carnation’s The Rubens at the Palace Hotel in London