Preferred Travel Group Unveils Climate Action Plan to Achieve Net Zero by 2050, Setting New Sustainability Standards for the Global Tourism Industry

Published on December 5, 2024

In a bold move toward environmental sustainability, Preferred Travel Group has officially launched its Climate Action Plan, which aims to significantly reduce carbon emissions and help drive meaningful change across the travel and tourism industry. The initiative, developed in collaboration with the Travel Foundation, focuses on tackling the climate crisis by setting ambitious targets and establishing clear pathways for the company’s decarbonization efforts.

Lindsey Ueberroth, CEO of Preferred Travel Group, expressed pride in the company’s new commitment: “As someone who has witnessed firsthand the transformative power of travel, I have always believed in its ability to connect people and cultures. With this privilege comes the responsibility to ensure that travel contributes positively to our planet. Our Climate Action Plan demonstrates that we are taking concrete steps toward building a more sustainable future. This is a commitment we are wholeheartedly invested in, and we invite our industry partners and guests to join us on this critical journey.”

The plan sets clear targets: halving the company’s carbon emissions by 2030 and achieving Net Zero emissions by no later than 2050. In line with global efforts to address the climate crisis, the initiative is designed to align with the Paris Agreement and support the goals of the Glasgow Declaration on Climate Action in Tourism, a key milestone in addressing the sustainability challenges facing the global tourism industry.

The five core pathways of the Climate Action Plan – Measure, Decarbonize, Regenerate, Collaborate, and Finance – provide a comprehensive and balanced approach to tackling climate change. Through these pathways, Preferred Travel Group aims not only to reduce its own carbon footprint but also to collaborate with partners and stakeholders to inspire industry-wide change.

Building a Sustainable Future: Key Objectives and Action Steps

The development of the Climate Action Plan involved extensive collaboration with experts from the Travel Foundation and ecollective, a UK-based carbon consultancy, as well as insights from Preferred Travel Group’s internal stakeholders. The first step in the process was to conduct a baseline emissions inventory, which identified the greenhouse gas (GHG) emissions across three key areas: Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (all other indirect emissions such as business travel, commuting, and supplier activities).

Using this data, Preferred Travel Group has set clear, measurable objectives that support global climate frameworks. Key targets include:

• Reducing emissions by 50% by 2030 to align with international efforts to limit global temperature rise to 1.5°C.
• Achieving Net Zero by 2050, ensuring that the company becomes carbon neutral by mid-century.
• Adopting the five pathways of the Glasgow Declaration: these pathways focus on key actions, including decarbonizing operations, regenerating ecosystems, fostering industry-wide collaboration, and ensuring adequate financing for climate initiatives.

The plan also aims to integrate climate action into every part of Preferred Travel Group’s operations, from employee engagement to the development of sustainable travel policies. Every decision, from business travel to event planning, will now be assessed through a climate-conscious lens, ensuring that sustainability is a core component of the company’s overall strategy.

A Commitment to Industry Leadership and Collaboration

As part of the initiative, Preferred Travel Group is encouraging industry partners, stakeholders, and guests to join in these efforts. The company’s ability to leverage its extensive network of hotels, suppliers, and tourism partners will be crucial in scaling the impact of its Climate Action Plan. According to Nina Boys, Vice President of Sustainability at Preferred Travel Group: “The company is well-positioned to reduce emissions in the pursuit of ambitious climate targets while also leveraging our larger sphere of influence to scale positive impact in the years ahead.”

One of the first steps in this journey will be prioritizing decarbonization within Preferred Travel Group’s internal operations, including refining travel and event policies to minimize emissions across its business activities. In addition, the company will enhance its emissions tracking and reporting systems, focusing particularly on business travel and events, which contribute significantly to Scope 3 emissions.

Associate engagement is central to this plan, with Preferred Travel Group investing in training programs, workshops, and resources to help employees adopt sustainable practices. These initiatives are designed to empower the entire workforce to make climate-conscious decisions, ensuring that every associate contributes to the company’s sustainability goals.

The Path Ahead: Milestones for 2025 and Beyond

In 2025, Preferred Travel Group will focus on further implementing its Climate Action Plan by refining policies, creating new sustainability initiatives, and continuing to engage with associates and external partners. The company’s sustainability team will work closely with a newly formed Climate Task Force and Climate Steering Committee to ensure that every action taken moves the company closer to its climate goals. This team will oversee progress and drive innovation, ensuring that the Climate Action Plan is continuously updated to reflect new developments in the sustainability landscape.

By taking these strategic actions, Preferred Travel Group is positioning itself as a leader in the travel and tourism sector’s transition to a low-carbon future. The company’s efforts to reduce its carbon footprint will have a far-reaching impact on the industry, demonstrating that sustainability and growth can go hand in hand. The Climate Action Plan is not just about reducing emissions – it’s about transforming the way the entire travel industry approaches sustainability and climate responsibility.