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illuminem summarizes for you the essential news of the day. Read the full piece on World Economic Forum or enjoy below:
🗞️ Driving the news: Carbon pricing is transforming business travel by embedding sustainability into its framework
• By applying fees to air travel emissions and reinvesting those funds into technologies like Sustainable Aviation Fuel (SAF), companies can accelerate decarbonization in aviation
• This approach combines economic incentives with climate action, enabling organizations of all sizes to contribute to a low-carbon future
🔭 The context: Business travelers account for 75% of profits on some flights, positioning them to influence the shift toward sustainability
• Carbon pricing, which charges for emissions, is being increasingly integrated into business strategies, with companies like Microsoft and KPMG adopting it
• Funds collected are directed toward solutions like SAF, electric vehicles, and research to address emissions and achieve net-zero goals
🌍 Why it matters for the planet: Embedding carbon pricing into travel encourages investment in low-carbon technologies, reducing aviation's significant climate impact
• It supports the global transition to sustainable energy and accelerates the adoption of affordable, low-emission technologies
• This aligns corporate growth with meaningful climate action
⏭️ What's next: The aviation industry aims for net-zero emissions by 2050, with ambitious SAF adoption targets set for 2030
• Businesses of all sizes, including SMEs, are urged to leverage carbon pricing to fund sustainability efforts
• This strategy could drive industry-wide transformation by scaling low-carbon innovations and making them broadly accessible
💬 One quote: “Emissions-based carbon pricing enables us to combine economics, sustainability, and technology... while also helping accelerate and prepare for a low-carbon future.” – Lucian Alexandru, Sanofi
📈 One stat: 24% of global emissions are covered by carbon pricing, generating over $100 billion in revenues annually (World Bank)
Click for more news covering the latest on corporate sustainability and sustainable tourism
