2022 U.S.-Booked
Air Volume: $119M
Primary U.S. Airline: American
Consolidated U.S. TMC: Amex GBT
Bank of America’s U.S.-booked air
travel volume rebounded to $119 million in 2022, after dropping to a $15
million pandemic low in 2021 and
a high of $224 million in 2019. As travel returns, however, Bank of
America is dedicating its resources to traveling more sustainably. The company
in 2022 integrated more sustainability criteria into its hotel and meetings
requests for proposals, but on a larger front the company has mobilized $2
billion in sustainable financing for the production of sustainable aviation
fuel and has committed to utilizing SAF for at least 20 percent of its jet fuel
use, including use of corporate jets.
The company partnered with American
Airlines to support the purchase of one million gallons of SAF from 2021 to
2023 and, this year, joined Amex GBT, Shell Aviation and Avelia to test its
blockchain-based book-and-claim platform that tracks SAF credits and ensures
they are claimed only once. The
company is exploring the possibility of assessing an internal fee on commercial
air tickets to help pay for SAF acquisition. While current Bank of America SAF
is centrally purchased, such a premium on individual air tickets, if
implemented, could help spread awareness of the environmental effects of
business travel.
To date, the company has concentrated
on supplier and industry sustainability solutions and has not adjusted its
travel policy. However, the travel team plans to make more sustainability data
visible to employees so they can make informed decisions.