As major companies look at drastic ways to cut carbon emissions from corporate travel, airlines are bracing for a major hit to business-class travel, a key revenue driver, industry executives and experts say.
Several companies, such as HSBC, Zurich Insurance, Bain & Company and S&P Global, have already announced plans to quickly cut business travel emissions by as much as 70%.
Some are considering a carbon budget as they come under growing pressure from environmental advocates and investors to reduce indirect emissions that contribute to climate change.