American Express has pledged to achieve net-zero global carbon emissions by 2035, 15 years ahead of the climate neutrality deadline set by the landmark Paris Agreement.
The payments giant, which says it has been carbon-neutral across its own operations since 2018, will expand that commitment throughout its supply chain, working with its major suppliers to reduce their emissions. Over the next two years, the company will set specific reduction targets based on guidelines set by the Science Based Targets initiative, which aims to limit global warming to 1.5 degrees Celsius.
As part of its commitment, Amex also will join the Race to Zero, a global campaign established by the United Nations Framework Convention on Climate Change and is supporting the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures. The company also will provide at least $10 million in funding to organizations and initiatives dedicated to combatting climate change through 2025.
American Express Global Business Travel—the former corporate travel management division of Amex, which was spun off in 2014—in recent years has made significant sustainability progress of its own. The travel management company also says it is carbon-neutral and earlier this year rolled out a carbon offsetting program for its corporate clients. In April, Amex GBT created the role of global sustainability vice president. Other major TMCs including BCD Travel and Corporate Travel Management, as well as such suppliers as Alaska Airlines, in recent months also have announced sustainability-focused initiatives.