Business Travel & Carbon Reporting: How the Fortune 150 Are (or Aren’t) Tracking Emissions

As global regulations and investor expectations sharpen their focus on environmental impact, carbon reporting is no longer optional—especially for the world’s largest companies. But where does business travel fit into the equation?

Areka’s latest research examines how the Fortune 150 report on CO₂ emissions—specifically looking at the often-overlooked category of business travel within Scope 3 emissions.

What We Found:

🔎 Only 37% of Fortune 150 companies report business travel emissions.
While 62% of companies disclose Scope 1, 2, and 3 emissions, fewer than 4 in 10 report on emissions from employee travel. This varies significantly by industry and geography.

🌍 Business travel makes up just 0.26% of total emissions—a relatively small slice, but one that aligns closely with how much companies typically spend on travel (relative to revenue).

🏭 Industries leading the way:
Tech, Media & Telecom, and Automotive sectors report more frequently and with greater detail. In contrast, sectors like Manufacturing report little to nothing.

🎯 Net-zero is the norm—but not for business travel.
60% of companies have a net-zero target (most by 2050), and 51% have specific emissions reduction goals. Yet, only 4 out of 150 companies set targets specific to business travel.

📉 Scope 3 remains the blind spot.
Although Scope 3 emissions account for over 90% of total emissions in many cases, only 35% of companies set reduction targets that include this category—and even fewer mention business travel.

Why It Matters:
With new regulations like the EU’s CSRD and the SEC’s Climate Disclosure Rule pushing companies toward more complete reporting, emissions from business travel—however small—are becoming harder to ignore.

Join us in early September as we release the full study and additional results—available on our website and through an upcoming webinar.