PredictX unveils carbon pricing tool

Travel technology specialist PredictX has launched a carbon pricing tool designed to help corporate travel managers meet emissions reduction goals.

The tool enables users to put a monetary value on carbon emissions linked to business travel activities, with the ability to set the currency, budget and date range, according to the company.

This ‘price’ is then mapped to travel activities including air and ground transportation and hotel stays, the company said.

The ‘Internal Carbon Pricing tool’ is integrated into the PredictX platform as a feature of its existing Sustainability Module, which uses an AI-powered measurement and “industry-leading methodology” to provide carbon calculations, the company said.

In a statement, the company added that its platform collects data from “more than 200 travel and expense sources” such as TMCs, expense systems, credit cards, online booking tools, suppliers and HR systems.

PredictX CEO Keesup Choe said the new tool has been developed to meet demand from corporates looking to introduce internal carbon pricing strategies to “accelerate progress” towards meeting reduction targets.

“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,” he said.