PredictX has enhanced its sustainability analytics solutions with a new carbon pricing tool.
The Internal Carbon Pricing tool will help corporates achieve their carbon reduction targets by providing insights into the financial impact of carbon emissions to their business.
It has been developed to meet demand for organisations who are looking to introduce carbon taxes or budgets to drive reduction strategies and stimulate changes in behaviour.
By putting a monetary value on carbon emissions – usually a flat fee for every tonne of carbon generated by the travel programme – it will help companies encourage more sustainable travel choices and raise awareness of the true cost of travel after funding offsetting initiatives.
Users will be able to define the carbon price themselves via an automated portal. The currency, amount and date range can be set and mapped to travel activities. These include air, hotel and ground transportation. Alternatively, PredictX can set the parameters on behalf of the user.
It has been integrated as an additional feature within PredictX’s Sustainability Module.
Keesup Choe, CEO at PredictX, said: “For many organisations, it’s become evident that calculating and offsetting carbon emissions from business travel is not enough to drive change. 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.”
