As 2024 unfolds, the urgency of sustainability has taken center stage, pushing many businesses to rethink their strategies and practices. One of the main areas feeling this shift? Corporate travel.
It’s no longer enough to make business travel decisions solely based on cost and convenience. With only a third of companies incorporating business travel into their sustainability programs, and the market expected to grow by 188% globally by 2028, the call to inject some environmental responsibility into these choices is louder than ever.
This Academy post will give you everything you need to develop an effective sustainable travel policy for your company.
Discover why these policies are important, how they can benefit your business, and follow our step-by-step guide to creating your own. Plus, we’ve even thrown in a handy sustainable travel policy template so you can get started today – no excuses!
While travel will always remain an important part of conducting business, we can't ignore its impact on the environment.
With transport accounting for around a quarter of the world's CO2 emissions, and aviation alone responsible for 2-3%, it's clear we need to make changes. For businesses, this means putting in place a sustainable travel policy to reduce their environmental footprint and help in the collective fight against climate change.
And it’s not just an environmental imperative – there’s also growing pressure from consumers, investors, and employees for businesses to operate responsibly.
IBM’s Institute for Business Value (IBV) study found that two out of three respondents say they’re more willing to apply for (67%) and accept (68%) jobs from environmentally sustainable companies.
Governments worldwide are also getting stricter about environmental rules, including mandates directed at corporate travel.
The EU’s new Corporate Sustainability Reporting Directive (CSRD), for example, requires companies to report on their environmental impact. Since corporate travel can make up a large part of your carbon footprint, having a sustainable travel policy can help your business reduce emissions, comply with regulations, and avoid nasty penalties.
Besides environmental responsibility and responding to stakeholder expectations, adopting a sustainable travel policy offers many advantages for your business.
From cutting costs to enhancing your reputation and future-proofing your business, there are plenty of ways a sustainable travel policy is good for business. We'll dive into these benefits in more detail soon.
A sustainable business travel policy is a set of guidelines that outlines how your employees can travel for work in a way that reduces environmental impact.
It should cover various topics, such as minimizing travel frequency, choosing eco-friendly transportation modes, and supporting accommodations and vendors that adhere to sustainability standards.
The goal is to balance business needs with environmental responsibility and employee well-being.
Ready to make your company’s travel more sustainable? Coolset's sustainable travel policy template is what you’ve been looking for.
With our template, you can:
Download our free template below and start your journey toward more sustainable corporate travel practices today.
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Adopting sustainable travel practices can bring about a wide array of benefits for your business. Here’s a closer look at these advantages:
Implementing a sustainable travel policy isn’t just good for the environment, it’s also great for your bottom line. By optimizing travel plans and reducing the frequency of trips, you can conserve resources and cut down on expenses.
Today’s consumers, investors, and employees prefer to engage with environmentally responsible businesses. NIQ’s Green Divide report from 2023 revealed that 70% of consumers now place more importance on sustainability when choosing brands compared to two years ago.
By implementing a sustainable travel policy, you’re not just reducing your carbon footprint, but you’re also enhancing your brand’s appeal and credibility.
As governments worldwide enforce stricter environmental regulations, implementing a sustainable travel policy can help you to comply and avoid any potential legal issues.
The EU’s CSRD requires companies to report on their environmental impact as early as this year. So, there’s no time like the present to begin planning your decarbonization journey – and corporate travel is a good place to start.
Sustainability has shifted from a nice-to-have to a standard business practice. By adopting sustainable travel practices now, your business can stay ahead of the curve and be prepared for what’s ahead.
Creating a sustainable travel policy involves a series of strategic steps, from rethinking how and where we travel to embracing technology and monitoring our progress. Let’s break it down:
The first step to creating your sustainable travel policy is getting a good grasp of your current travel situation. Take time to evaluate the necessity and frequency of business trips and consider alternatives. Could you choose more sustainable destinations or meet virtually instead?
You may decide to limit international travel to essential trips only. You could prioritize travel to locations accessible by train rather than plane to reduce your carbon footprint.
One of the simplest ways to slash travel emissions is to replace physical meetings with virtual meetings. Take advantage of video conferencing and digital communication tools to reduce the need for physical travel and to reduce travel frequency.
When face-to-face meetings are necessary, select a location that makes sense for as many participants as possible. This can minimize travel distances and save on emissions.
Encourage the use of more sustainable modes of transport like public transport, biking, electric vehicles, carpooling, or even choosing airlines with carbon offset programs.
Providing incentives like discounted public transport cards or free electric vehicle charging at the office can get employees involved and foster a culture of environmental responsibility.
Use travel booking tools that prioritize the most environmentally friendly hotels and flights. That way, you can rest assured you’re making more sustainable choices without having to spend extra time on research.
Invest in carbon offset programs to compensate for the emissions generated from necessary travel. Partnering with a company like One Tree Planted allows you to invest in reforestation projects equivalent to your travel carbon footprint.
Regularly track and analyze the environmental impact of your business travel and report these findings for continuous improvement. Using a carbon accounting tool like Coolset can help you to accurately track the carbon emissions from corporate travel and automatically generate reports based on your needs.
Communication is key when it comes to implementing your new travel policy. Not only will it increase the likelihood of compliance but it can also encourage a culture of sustainability.
Here are some tips on how to do it effectively:
Ready to embrace a greener approach to corporate travel? Discover the perfect tool with Coolset's sustainable travel policy template.
This template empowers you to:
Download our free template below and set the course for a more sustainable, environmentally-conscious business journey.
Coolset's sustainable travel policy template is what you’ve been looking for.
Coolset's sustainable travel policy template is what you’ve been looking for.
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