According to
a Gartner survey, CEOs consider environmental and social changes to be among investors’ top priorities, and
sustainability has become a competitive differentiator. Personally, I have witnessed how
sustainability is not only ethical, but also a smart strategy for standing out in an increasingly competitive market.
The Economic and Political Reality: Sustainability as a Shield
Gartner also notes that sustainable business practices can protect companies from economic and political disruptions, with
sustainability programmes serving as an effective tool to mitigate operating costs, particularly in business travel.
2024 Challenges: Sustainability on the Corporate Travel Agenda
This year, we face challenges that test our ability to commit to
sustainability. Doing more with less is the guiding principle. In this context, prioritising sustainability on the corporate travel agenda is not only an ethical choice, but also a strategic one for advancing towards environmental, social and corporate governance (ESG) goals and standing out in the competitive business world.
Growing Demand for Sustainability
Sustainability is often perceived as a cost, but perceptions are changing. Four out of five business leaders say that sustainability programmes create value in both the short and long term, and 80% maintain that they have optimised and reduced costs through sustainability.
Internal and External Pressure to Commit to Sustainability
Employees are now agents of change, pushing companies to commit to sustainability. In the business travel sector, 40% of business travellers expect more sustainable travel options and would be willing to deviate from company policy to choose them.
An inspiring example is Standard Chartered Bank, a financial institution that has meaningfully integrated sustainability into its travel and expense policies. With the ambitious goal of achieving net-zero emissions by 2025 and 2050 in its operations and financing, respectively, it has streamlined its travel policies and used integrated technology to empower employees to make sustainable decisions.
Strategies to Drive Sustainable Corporate Travel
From my perspective, the key strategies that can be drawn from Standard Chartered Bank’s experience are:
1. The Value of Integrated Solutions
Managing travel through a unified, comprehensive system not only improves efficiency, but also serves as a single source of truth for travel and expenses. This integration can facilitate sustainable decision-making and data analysis to meet sustainability goals.
2. Everyone Is a Stakeholder
Sustainability is not an effort exclusive to senior management; every member of the organisation has a role to play. Ongoing employee feedback is essential to adapt policies and tools to their needs and encourage participation in the initiative.
3. Providing Resources for Success
Facilitating the adoption of sustainable practices through training and access to relevant information is key. From new integrated solutions to sustainability KPIs, equipping employees with what they need ensures success in sustainable travel.
In summary, sustainability can no longer be an afterthought in business travel. Companies must take proactive steps to implement sustainable travel initiatives, adjust policies accordingly and use technology to achieve their goals. This approach not only improves the
employee experience and talent attraction and retention, but also protects the corporate travel programme against disruptions and maximises employee safety and productivity.
Organisations that integrate travel as a fundamental part of their sustainable approach will not only reduce their environmental impact, but also position themselves as leaders in a competitive market.
