AI business travel data tool PredictX has launched an internal carbon pricing feature within its Sustainability Module for clients who want to introduce carbon taxes or budgets to their programs, the company announced.
The feature lets users determine a price for carbon—either user-defined by currency, amount and date range or with parameters set by PredictX—and map that to air, hotel and ground travel. The Sustainability Module provides carbon calculations via travel data in the PredictX platform, which includes data from travel management companies, expense systems, credit cards, online booking tools, global distribution systems, suppliers, HR systems and the general ledger.
PredictX noted it developed the tool to meet demand from organizations to add carbon taxes or budgets.
"For many organizations, it’s become evident that calculating and offsetting carbon emissions from business travel is not enough to drive change," PredictX CEO Keesup Choe said in a statement. "They are therefore starting to introduce internal carbon pricing strategies to accelerate progress towards meeting targets. However, most companies are managing this process internally, which is time consuming. We saw an opportunity to support our customers by integrating carbon pricing within our overall sustainability analytics solutions enabling them to benchmark the true environmental and financial impact of their travel."
A Global Business Travel Association Foundation benchmarking study released earlier this week showed only 7 percent of companies have introduced either carbon budgets or fees, but an additional 17 percent have plans to implement a carbon fee, and 20 percent have plans to implement a carbon budget.