Sustainable business travel has gained tremendous traction in recent years. While it was once a 'nice to have' addition, it's become a cornerstone of modern enterprise and legislative compliance. With doctrines like the Paris Agreement at play, many nation-states need to "reduce carbon emissions by 55%" by 2030. One such area that needs rethinking is sustainable business travel and carbon emissions.
Successful companies must consider three important aspects when considering sustainable business travel. We'll call them the three C's: Costs, CO² emissions, and collaboration. Businesses across the globe are struggling to maintain a viable cost balance in the post-Covid landscape characterized by a distributed workforce. They need to find new ways to facilitate in-person connections while reducing their environmental footprint.
Sustainability = Profitability
As travel once again recuperates across the globe, the topic of sustainability emerges in full force. With detailed Environmental Social Governance (ESG) frameworks here to stay, businesses are approaching sustainability goals through a business strategy lens. They realize the intrinsic links between sustainability and profitability, and they're acting fast. In terms of sustainability, large enterprises are tracking their pollution, water usage, carbon neutrality, and waste management. They are also striving to support climate change initiatives.
There's one thing they're struggling with, however: Sustainable, cost-effective corporate travel.
Business travel is paramount to business success. While online platforms are essential for a hybrid or remote workforce to function, nothing compares to in-person meetings when strengthening company culture and inspiring collaboration. Unfortunately, in the aftermath of the Covid-19 pandemic, travel prices have hiked dramatically, with the Global Business Travel Association noting a general trend of a 3.4% price increase in 2023 for air travel. Businesses now have to consider rising prices with sustainability initiatives. Nonetheless - despite these challenges - they are adamant about one thing, face-to-face meetings are integral to their success and cannot be compromised.
Sustainability = A Happier Workforce
Sustainability also relates to the people in your organization. You want employees to feel energized and on top of their game. Unfortunately, the fast-paced world of business and long-haul travel can result in burnout. This is why more companies are choosing to invest in the health and wellness of employees. Any successful business owner understands that retention is more cost-effective than re-hiring. By safeguarding sustainable travel and promoting a work-life balance, businesses can drive profit margins by ensuring greater employee retention. Sustainable business travel planning chooses the smartest logistic location in terms of travel time, visa requirements, and safety risks. In doing so, it protects the people and the planet.
Sustainable Travel Planning is Smart Travel Planning
The cost of not considering sustainability is too high for most companies to comprehend. A lack of sustainability efforts when planning corporate travel can lead to a myriad of challenges for global players, including:
• A lack of interest from outside investors.
• Poor branding and public image.
• Employee burnout and low retention.
• Wasted time and money.
Choosing sustainability is a cost-effective solution. But how do you plan sustainable global meetings with numerous attendees from multiple locations? How can you find the most environmentally friendly meeting location, all the while considering costs, time zones, employee well-being, and busy schedules?
Businesses need an urgent streamlined approach to analyzing this data. Corporate travel planners can only do so much, and this is where TROOP shines as a self-service solution.
A One-Stop-Shop for Sustainably Smart Travel Solutions
TROOP is the first port of call for sustainable, smart travel. Much like an Internet search provider, we offer a one-stop shop for specific travel and sustainability-related data. If you are ready to explore how TROOP's innovative travel management software can enhance sustainable business travel, cutting your costs, avoiding carbon emissions, and time, then have a conversation with the team.
