OVERVIEW: COCO+ brings a business travel solution to market which combines a slick user experience for travellers with an ethical commercial engine that allows businesses to tackle their travel emissions without any additional cost.
COCO+ removes the travel emissions from the full trip verifiably through third-party validated CO₂ removal projects, enabling businesses to travel net zero.
KEY FACTS: Founders: CEO Neil Fincham-Dukes & COO Phil Brown
Launch date: April 4 2022
Experience: Serial hospitality entrepreneurs
Geographic reach: Global
Team: Lead by Aisha Battersby, Travel Operations Director
CREDENTIALS: The company has partnered with Climate Care for offsetting providing GOLD standard certification.
PROPRIETARY PROPOSITION: COCO+ pays for the carbon offsetting of its customers emission on their behalf through upfront bulk buying of carbon credit and this is built into the commercial model. They are also a pending B Corp.
TARGET MARKET: The company targets all business that have an ambition to reach net zero, most specifically SMEs and businesses that have an unmanaged travel programme.
COMMERCIAL MODEL: COCO+ operates a transaction fee-based model with carbon offset built in.
BLACK BOX VERDICT: COCO+ is an exciting new addition to the TMC landscape, offering all business travel at net zero with credible offset certification. Through the bulk buying of carbon credits, it is able to offer an affordable solution in an impactful and uncomplicated way.
The additional element of the sister service COCO+ Fuel, a corporate Fuel card service, makes for a powerful proposition for companies striving to be carbon negative and it is the first platform of its kind. I look forward to watching this business make a big impression on the business travel community.