The Travel Corporation and its 40 Brands Accelerates Net Zero Journey with Verified Net Zero Science-Based Targets and Carbon Fund
Cypress, CA – December 5, 2022 – The Travel Corporation (TTC), a family of 40 award-winning travel brands, has become the first global tour operator to introduce 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 organization has received validation on net zero targets by the Science Based Target initiative (SBTi); making TTC the first tour operator to do so in accordance with the 2021 Net Zero Standard*
The group’s approach prioritizes reductions and eliminates the use of offsets
TTC has established an internal carbon fund to invest in its net zero transition
Their not-for-profit foundation, TreadRight, will move to prioritize nature-based solutions, in support of its three pillars of Planet, People and Wildlife
*Targets will be updated on the SBTi website in the coming weeks
“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.,’ says Shannon Guihan, The Travel Corporation’s Chief Sustainability Officer & Head 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,’ she added.
TTC Climate Action Plan Evolution – from carbon neutral to net zero
In 2020, The Travel Corporation which includes brands such as Trafalgar, Contiki, Red Carnation Hotels and Uniworld, 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.
Science Based Targets
A critical commitment of TTC’s Climate Action Plan is to evolve with climate science, available technology and business practices. In the time since the organization announced plans to become carbon neutral, its singular focus has been on decarbonization, appreciating that emitting less carbon into the atmosphere is the most effective means to address climate change. As such, TTC is announcing a reset of its Climate Action Plan, setting ambitious reduction targets and a Carbon Fund to invest in achieving net zero by 2050, replacing its goal to be carbon neutral by 2030.
TTC has set the following carbon reduction targets:
Net Zero Target
Reach net zero GHG emissions across the value chain by 2050 from a 2019 baseline year
Short Term Goals
Reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year*
Reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 27.5% within the same timeframe
Long Term Goal
Reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2019 base year*
*The target boundary includes land-related emissions and removals from bioenergy feedstocks
“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.”
How this will be achieved – Internal Carbon Fund and Nature-Based Solutions
Today, 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 publicly 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. Please read TTC’s 2021 Impact Report to learn more.
For more information: http://www.treadright.org/ https://impact.ttc.com/
About The Travel Corporation:
The Travel Corporation (TTC) is a highly successful, stable and solvent family-owned and passionately run international group of 40 award-winning brands, which celebrated our first 100th Anniversary in 2020. Our exceptional portfolio of brands spans across 70 countries and offers an extensive selection of international travel and tourism companies, encompassing a variety of guided travel experiences, independent holiday packages, boutique river cruising, luxury hotels and safaris. We are committed to consistently delivering outstanding service, experiences and value to each and every one of our guests and we do so through continuous innovation. TTC is a signatory of the Glasgow Declaration and their sustainability efforts have been recognised by AFAR and Fast Company Magazine, while their MAKE TRAVEL MATTER® experiences have been endorsed by WTTC, Travel Foundation and representatives from the University of Harvard. For more information, please visit TTC.com or follow us on Twitter and Instagram (insert regional link) while using our hashtags #TravelWithTTC and #MakeTravelMatter. For the latest sustainability news and impact reports, please visit TTC ‘s Impact Hub.
About The TreadRight Foundation:
TreadRight is a joint not-for-profit initiative established by The Travel Corporation’s (TTC) family of brands. The foundation’s singular mission is to MAKE TRAVEL MATTER® by providing support to community-based projects worldwide that safeguard the planet, people and wildlife. To date, the foundation has supported 60+ sustainable tourism projects in 280+ communities worldwide, based on priorities set by the TreadRight Steering Committee. Current initiatives include Rainbow Railroad, Project Vesta, GreenWave and The Tourism Pathways Project. To learn more about past and current work at TreadRight, please visit TreadRight.org and follow TreadRight on Facebook, Instagram, and Twitter using our hashtag #MakeTravelMatter. We will make travel matter – for our planet, for people and for wildlife. We have taken the pledge, now we invite you to join us.