B2B travel platform American Express Global Business Travel (Amex GBT) announced the launch of a new integrated emissions-based carbon pricing tool, enabling users to track the carbon emissions specific to their flights, and direct investment towards decarbonization initiatives.

According to Amex GBT, the new tool enables companies to pick a carbon calculation methodology, with methodologies offered including those provided by the IATA, ICAO, France’s ADEME, UK’s BEIS, and the U.S.’ EPA, and track the carbon emissions specific to their flights, and apply a carbon fee that can be visible to business travelers as they shop and can appear on their invoice, helping inform employees about their carbon impact. The fee can be used to create a fund for decarbonization projects such as sustainable aviation fuel or electric vehicles.

John Sturino, SVP of Product and Engineering, Amex GBT, said:

“Carbon pricing is a proven mechanism that can help companies make progress towards their sustainability objectives. Our innovative software can now help customers place a price on carbon and direct investment toward lower-carbon solutions, empowering them to make more informed decisions and address their carbon footprint.”

According to the company, some Amex GBT clients already use carbon pricing to apply flat or dynamic fees. With the enhancements announced, customers can now track the carbon emissions specific to their flights and funnel investment towards sustainability initiatives. Amex added that aligning carbon pricing with the emissions specific to a traveler’s flights at point of sale can support employee engagement and incentivize more sustainable economic decisions.

Nora Lovell Marchant, VP of Global Sustainability, Amex GBT, said:

“Carbon pricing by way of business travel can help shift companies – and the aviation industry at large – towards a more sustainable future. Carbon pricing is imperative, but alone insufficient. We need to combine carbon pricing with decarbonization. Making carbon more expensive must be combined with making clean more affordable.”

The launch of the new tool follows the setting of a goal announced by Amex GBT in September to reach net zero greenhouse gas emissions across its value chain by 2050. The company’s interim goals include 2030 targets to reduce absolute Scope 1 and 2 emissions by 80%, and Scope 3 emissions from purchased goods and services, capital goods, fuel and energy related activities, upstream transportation and distribution, waste generated in operations, business travel and employee commuting by 30%, on a 2019 basis. The company has also committed to engage 67% of its airline suppliers by emissions, covering use of sold products, to set science-based targets by 2028.