Macquarie Group wins CTC Australasia Corporate Travel Programme of the Year 2022

23 November, 2022

Macquarie Group, the Australian global financial services group, was recognised for the environmental credentials of its corporate travel programme at CTC - Corporate Travel Community's Australasia Corporate Travel Summit & Sustainability Awards in Sydney.

Founded over 50 years ago, Macquarie employs more than 17,000 staff across over 3o markets, is the world's largest infrastructure asset manager and Australia's top ranked mergers and acquisitions adviser, with more than AUD737 billion in assets under management.

The Sydney-headquartered company was presented the CTC Australasia Corporate Travel Programme of the Year 2022 award as part of the agenda on the second day of the Nov-2022 event at the Sheraton Grand Sydney Hyde Park, which focussed heavily on sustainability.

Dr Benson Tang, executive director of CTC - Corporate Travel Community acknowledged that for well over a decade Macquarie has been reporting and offsetting carbon emissions related to its global air travel.

In early 2022, Macquarie expanded its definition of emissions relating to business travel to include air travel, ground transportation, hotels and food and beverage - and offset the expanded set. Additionally, the air travel emission calculation methodology has also matured to be more comprehensive and now reflects the actual class of ticket flown.

Earlier this month Macquarie was one of five Australian companies joining the Qantas Sustainable Aviation Fuel (SAF) Coalition, to show demand exists for a local production. SAF is considered to be the key driver towards decarbonisation of the aviation industry.

The last two years have turned the corporate travel industry on its head. Spearheaded by the COVID-19 pandemic, which has given rise to the 'Zoom-boom' and forced a complete overhaul of all company health and travel policies.

While airlines largely believe that domestic corporate demand could regain its pre-pandemic strength before 2024, they also acknowledge that the overall recovery from the COVID-19 crisis remains choppy and uncertain.

Beyond COVID-19, corporate customers are also changing their response to the broader demands for responsible operations, of ESG and sustainability, and ultimately of working to reduce the impact on the planet. Corporate customers hold a much more aggressive net-zero trajectory than airlines - most of which are targeting net zero by 2050.

The CTC Australasia Corporate Travel Summit & Sustainability Awards, the return of CTC in-person events in Australia, provided a much-needed platform for this conversation, with hundreds of corporate travel executives gathering in Sydney to share the latest developments, best practices and trend analysis to help guide the industry through its next revolution.