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Wednesday,  May 22, 2024 8:03 PM 

TTC announces verified net zero targets & carbon fund

TTC announces verified net zero targets & carbon fund
(The Travel Corporation)
Pax Global Media

The Travel Corporation (TTC) and its 40 travel brands has announced verified net zero targets validated by the Science Based Target initiative (SBTi). 

The company has also introduced an industry-leading internal carbon fund to achieve net zero.

In a major reset to its Climate Action Plan, TTC has accelerated its original climate action commitments.

The company says it is the first tour operator to receive validation in accordance with the 2021 Net Zero Standard. 

TTC has established an internal carbon fund to invest in its net zero transition and their not-for-profit foundation, TreadRight, will move to prioritize nature-based solutions, in support of its three pillars of Planet, People and Wildlife

“As a global industry leader, we appreciate the support of our travel industry partners as we take collective action to fight climate change. Our focus is to identify a way forward that marries what the science is telling us with solutions to enable our decarbonization. We need to reduce our emissions and the surest way to do that is through direct investments into our business and our operations," Shannon Guihan, The Travel Corporation’s chief sustainability officer and gead of TreadRight. 

"The Carbon Fund, in concert with our TreadRight Foundation, enable us to invest in decarbonization in two ways: by utilizing the Carbon Fund to reduce the emissions we produce, and by prioritizing financial support for nature-based solutions through TreadRight." 

The Travel Corporation, which includes Trafalgar, Contiki, Red Carnation Hotels and Uniworld, has launched its sustainability strategy, How We Tread Right (HWTR), setting a goal to be carbon neutral by 2030. 

TTC’s climate goals have been backed by a five-point Climate Action Plan to measure, reduce, remove, offset and evolve. 

In 2021, a number of TTC brands including Contiki and the Radical Travel Group, consisting of Haggis Adventures and Highland Explorer Tours - announced that all trips would be carbon neutral, beginning in 2022.

“Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change,” said Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative. “The Travel Corporation's net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”

Climate action

TTC’s Climate Action Plan has been reset to four points; Measure, Reduce, Restore and Evolve; replacing both ‘remove’ and ‘offset’ with ‘restore’. 

For its part, TTC’s TreadRight Foundation will shift to prioritize nature-based carbon removal solutions that restore the planet, in an effort to address climate change as well as the rapid loss of biodiversity.

In addition, TTC is also announcing the development of an internal Carbon Fund

This fund will be generated through revenue from TTC brands that will be used solely for initiatives that contribute to TTC’s net zero journey.

To achieve TTC’s science-based targets, TTC’s decarbonization plan identifies five key areas of focus for the business’s carbon reduction efforts: 

  • Reduce energy use and transition to low-carbon technology at Red Carnation Hotels 
  • Generate and utilize renewable energy across all offices and facilities 
  • Reduce fuel emissions from Uniworld ships 
  • Secure zero emission vehicles for TTC’s Tour Brands 
  • Reduce the carbon footprint of trips in collaboration with the supply chain and destinations 

TTC will report on its Carbon Fund, alongside its progress against its science-based targets in future annual impact reports, with its next report due in the first half of 2023 on 2022 progress. 

For more information, click here. 

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