SYDNEY/BOSTON (Reuters) -As major companies look at drastic ways to cut carbon emissions from corporate travel, airlines are bracing for a major hit to business-class travel, a key revenue driver, industry executives and experts say. Several companies, such as HSBC, Zurich Insurance, Bain & Company and S&P Global, have already announced plans to quickly cut business travel emissions by as much as 70%. Flights account for about 90% of business travel emissions. The airline industry last week committed to reach “net zero” emissions by 2050 https://www.reuters.com/business/aerospace-defense/airlines-accelerate-climate-pledge-industry-talks-2021-10-04 at a meeting in Boston, decades beyond the corporate travel emissions cut targets. “If we are getting to net zero carbon emissions by 2050 everybody has got to play their part here,” said Air New Zealand Chief Executive Greg Foran.

Source: MetroXpress October 10, 2021 22:52 UTC