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The opportunity
Climate Miles focuses on those flights that are freely funded by frequent flyer points which incentivise holders to fly more than they would otherwise have done without frequent flyer points and, hence, may be deemed as ‘unnecessary’.
The aim is to redirect the value of frequent flyer loyalty points towards low / zero carbon investment alternatives – refocusing the incentive to fly for free / cheap with frequent flyer points towards climate beneficial investment.
The Climate Miles concept is not an offset. It simply redirects economic value from a cheap / free carbon intensive activity (flying using loyalty points) towards a low / zero carbon activity (investment), whilst still retaining loyalty (holder owns part / all of the returns of the fund).
The process is simple:
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Allow customers to retire frequent flyer points for Climate Miles (part or in full)
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Climate Miles will represent airline capital that will be invested into a low carbon / clean technology / adaptation / microfinance fund
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Climate Miles provide a return on investment that can be spread between the frequent flyer point’s holder, the airline and / or charity.
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