American Express Global Business Travel (Amex GBT) announced that its near- and long-term science-based emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
SBTi, according to the announcement, has approved Amex GBT’s near-term science-based emissions reduction target and has validated conformance with the SBTi Corporate Net Zero Standard. Amex GBT has committed to reaching net-zero greenhouse gas (GHG) emissions across its value chain by 2050.
Amex GBT is among the first in the business travel industry to achieve SBTi validation of emissions reductions goals for its global operations and value chain, inclusive of scopes 1, 2 and 3. The official science-based target language includes:
Near-Term Targets
- Reducing absolute scope 1 and 2 GHG emissions 80% by 2030 from a 2019 base year.
- Reducing absolute scope 3 GHG 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 30% within the same time frame.
- Engaging airline suppliers to set science-based targets by 2028.
Long-Term Targets
- Reducing absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2019 base year.
- Reducing absolute scope 3 GHG emissions 90% within the same time frame.
Paul Abbott, CEO of Amex GBT, said: “Travel drives economic and social progress around the world. To keep enjoying these benefits we must urgently address our environmental responsibilities. We will continue to lead the industry, working with our customers and partners to accelerate progress and meet our carbon reduction targets.”
