At The Travel Corporation (TTC) and our portfolio of award-winning travel brands, the health and wellbeing of the world we have the great privilege of exploring is paramount. The fact that that which offers us so much – our planet – must be taken care of through action, is clear to us.

This action began in 2008, when we established our TreadRight Foundation to offer financial support for projects that align with the planet, its people and its wildlife. Our efforts have evolved over the years, and in September 2020 we launched our new sustainability strategy based on 11 measurable goals. How We Tread Right* (HWTR) addresses TTC and our brands’ impact on climate, food, waste, experiences, diversity and wildlife.

In 2021, we became a launch signatory of the Glasgow Declaration, launched at COP26 and obliging us to commit to net zero. In November 2022 to reflect our path to net zero, we reset our Climate Action Plan with the approval of our science-based targets by the Science Based Targets initiative (SBTi) and the launch of our Carbon Fund. Our plan is not marked by one quick fix, because we do not believe there is only one. It is marked with a need to act now coupled with our commitment to learn and adapt as technology and innovation help us in our transition to a low-carbon business, both at our facilities as well as on our trips. Our plan builds on progress made to date and evaluates how we become a part of the global effort to reach net-zero emissions by mid-century, as outlined by the International Panel on Climate Change.

*This strategy, the strategy’s timeline, and our Climate Action Plan is in the process of being updated following The Travel Corporation’s acquisition by Apollo Global Management.

1. Measure: UNDERSTANDING OUR IMPACT

The Travel Corporation has a significant direct carbon footprint from our owned assets (Scope 1 + 2 emissions). This represents what we call our “Business Emissions” and includes emissions from our offices, Uniworld ships, accommodations/facilities and vehicles.

The Travel Corporation brands operate more than 1,500 itineraries worldwide, an operation that has a carbon footprint of its own, and what we refer to as our “Trip Emissions.” In 2020, TTC worked with a third-party consultant to develop a customized “Trip Carbon Calculator” to measure the average carbon footprint of our trips, and this tool has since been peer reviewed to ensure its reliability. In 2022 it was updated to reflect up-to-date emission factors and provide a dashboard for our Travel Experience teams so they may have a greater understanding of their trip’s carbon footprint and how it can be reduced. Our tool was developed in accordance with the Greenhouse Gas Protocol and uses best practices available to date.

However, we recognize that measuring trip emissions is an evolving process and a journey that many of our peers are on as well. To that end, we commit to collaborating with the industry and remaining transparent regarding our methodology, which is publicly available here. We will review and update the carbon footprint of our trips every two years using an updated Trip Carbon Calculator with the latest emission factors.

2. Reduce: building on ongoing efforts

In 2022 TTC committed to reach net zero GHG emissions across the value chain by 2050 from a 2019 baseline year. The net zero targets have been verified by the Science Based Target initiative and include near-term and long-term targets, as follows:

Net Zero Target:

♦ Reach net zero GHG emissions across the value chain by 2050 from a 2019 baseline year

Near-Term Targets:

♦ Reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year*

♦ Reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 27.5% within the same timeframe

Long-Term Target:

♦ Reduce absolute Scope 1, 2 and 3 emissions by 90% by 2050 from a 2019 base year*

*The target boundary includes land-related emissions and removals from bioenergy feedstocks

To achieve these goals, our decarbonization plan identifies four key areas of the business we will focus our carbon reduction efforts on. The plan will be financed via a dedicated Carbon Fund, for which each brand will contribute based on their classification as a city tour brand, a day tour brand, or a low, medium or high emitter. We will publicly report on this Fund in our annual Impact Report. Our decarbonization plan is as follows:

♦ Generate and utilize renewable energy across all offices and facilities

♦ Reduce fuel emissions from our Uniworld ships

♦ Secure zero emission vehicles for our Tour Brands

♦ Reduce the carbon footprint of our trips in collaboration with our supply chain and destinations

Read about how we’re delivering against this plan in our annual Impact Report.

3. Restore: SUPPORTING PROMISING SOLUTIONS

We know that carbon removal solutions that store excess carbon from our atmosphere will be crucial to mitigating climate change and we are committed to assisting these science-based solutions to accelerate and scale as quickly as possible. We also recognize the growing biodiversity crisis as its intrinsically linked to the climate crisis. Through our TreadRight Foundation we are proud to provide grants to promising nature-based solutions and conservation efforts that protect our biodiversity and restore our planet. Learn more about the projects we are supporting here.

4. Evolve: WE CANNOT DO THIS ALONE

We’re not on this journey alone and we’re invested in collaborations with likeminded organizations and businesses that are taking urgent climate action. Through advocacy and support we are involved with World Travel & Tourism Council and The Future of Tourism Coalition to address roadmaps to achieve net zero by 2050 for the industry and in-destinations.