Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .


Is sustainability the secret to a brighter future?

Is sustainability the secret to a brighter future - Global Banking | Finance

By Matt Clementson, Enterprise Head of Sales UKI, SAP Concur

Matt Clementson Enterprise Head of Sales UKI SAP Concur - Global Banking | Finance

Matt Clementson, Enterprise Head of Sales UKI, SAP Concur

Now that business travel has resumed, sustainability is top of mind for travel managers. As demand for higher levels of sustainability grows, businesses will be further interrogated about sustainability policies from third parties, management and employees to supply chain partners and external stakeholders. Fortunately, UK businesses have already made great strides in their sustainability policies, especially with green business travel programmes.

In fact, SAP Concur’s latest research revealed that UK businesses are further along their sustainability journey than their European counterparts, with 99% considering sustainability in their travel policy. The sustainability agenda is being driven by a number of different groups within UK businesses including senior leadership (70%), employees (53%) and those responsible for corporate travel (48%).

Now that businesses are working to rethink and rebuild travel programmes for a sustainable, post-pandemic world, it’s a great time for travel managers to establish new practices and policies that embrace sustainability, duty of care and convenience.

Enabling the road to sustainability

There are many barriers to overcome on the route to sustainability. From prioritising fuel-efficient flights to opting for virtual meetings, managers and employees are having to rethink travel habits and look at travel through a sustainability lens.

UK businesses are also working hard to increase understanding of business travel sustainability amongst employees, but it isn’t just a sustainable mindset that exists within these businesses -they are taking active steps to ensure the sustainability of their corporate travel programmes. When it comes to considering the environmental sustainability of third-party supplies in the context of business travel, 74% of UK organisations are doing a good job compared to 64% of those in Europe.

Internal communication campaigns (70%), regular communication with business travellers for the duration of their trip (68%) and formalised training and education programmes (64%) are amongst some of the tactics that organisations are using to drive understanding of sustainability policies.

Technological solutions for greener business travel

As part of the drive to sustainability, in the future we will see an increase in purposeful travel, where business travellers will only travel if it is essential. Businesses will be taking into account the method of transport they are using and ensure that it is the most sustainable option. Moving forward, businesses should focus on continuing their ongoing programme to support their travelling employees in making greener choices – while supported by the right tools and technologies to help them make informed decisions.

Technology tools that facilitate the measurement and implementation of more sustainable programmes will be vital to organisations in achieving this. SAP Concur offers Thrust Carbon to customers, a useful tool that gives our customers visibility of the components for their journey. SAP Concur data is applied to all modes of transports, including air and travel, as well as accommodation. It then provides impact support for customers, allowing them to implement regulations based on the results.

This can be useful for travel managers and business travellers to evaluate travel options, helping them to gauge whether a journey is completely essential. This tool can provide alternative booking arrangements for transport or hotels if it affects carbon footprint, employee wellbeing or company budget.

There are many attributes to take into consideration for tracking emissions and using a booking tool will give employees will have greater visibility and can make better informed decisions about their travel options, as they can see how much impact their travel will have before they book any trips.

As we find out footing in this new normal post-pandemic world, we will see an increase in purposeful travel. There has always been an underlying reason for travel, and in some cases, it will make sense to meet with people digitally, but this will not be the case for everything. Employees will choose eco-friendly routes to travel by, worked out by their booking tools, which will help them to manage their CO2 emissions accordingly. 

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post