HRS Partners with SQUAKE, Integrating Technologies to Provide Carbon Compensation Options for Corporate Lodging Programs

Carbon Compensation Technology Complements HRS’ Award-Winning Green Stay Initiative

Cologne, Germany – 27 June 2023 – HRS, the leading global corporate lodging and payment technology platform, announced its latest partnership to support corporate lodging programs in their quest to achieve Net Zero carbon emissions. HRS is partnering with SQUAKE, the innovative solution that powers accurate carbon calculations and provides access to multiple high-quality compensation projects, for all travel and logistics-related emissions.

HRS’ award-winning Green Stay Initiative is already playing an instrumental role in demonstrating how technology can help alter the hotel booking behavior of business travelers as corporations strive to use more sustainable hotel properties. More than 600 hotel brands worldwide participate in the GSI program; millions of hotel room nights will be booked at GSI-rated hotels this year. A broad range of Fortune 500 companies will leverage GSI in upcoming 2024 hotel negotiations, with a growing number mandating that hotels convey their footprint metrics via GSI (see this Siemens example) as a minimum requirement to win contracted volume.

Advanced Technologies Enable Compensation in the Hotel Procurement Process

As corporations enhance plans to reduce emissions in accordance with Paris Agreement targets, more are prioritizing hotel properties that illustrate their sustainable practices in procurement exercises. Increased volume in sustainable hotels alone, however, will not get companies to their Net-Zero goals. In addition to halving emissions by 2030, corporations also need to incorporate compensation through high-quality projects for the share of emissions they cannot reduce in the short term.

This is where SQUAKE’s automation fits neatly alongside HRS’ Green Stay Initiative. With the Green Stay data and SQUAKE’s technology, HRS will enable compensation options for corporates and hotel suppliers to support on their journey towards Net-Zero. Metrics across the program will be tracked and compiled monthly to ensure accurate accounting and reporting of emissions reduced and compensated.

“On the path to Net-Zero, the vast majority of companies will use multiple tactics and technologies to get there. SQUAKE’s unmatched combination of automation and carefully qualified portfolio of compensation partners fits the complementary scenarios many clients have asked for,” said Martin Biermann, Chief Product Officer for HRS. “Moreover, their technology fits neatly in the booking cycle. We’re excited to work with SQUAKE.”

Multiple Benefits for HRS Clients & Their Travelers

HRS clients will gain from multiple benefits:

• Enhanced Sustainability: The partnership with SQUAKE empowers lodging program leaders and their travelers to actively participate in compensating for the share of emissions that can’t be reduced in the short term, and to do it the right way.
• Streamlined End-to-End Solutions: With this end-to-end emissions compensation offering across hotel and payment solutions, customers will be able to integrate yet another important step into their sustainability strategy and   efforts to take commensurate actions based upon their emissions.
• Transparent Reporting: HRS and SQUAKE will ensure that customers have visibility into their contributions and the positive environmental impact they make. HRS’ reporting package recently won a prestigious award for its sustainable data capabilities.
• Meeting Sustainability Targets: Governments, regulatory bodies, and industry standards increasingly require companies to meet specific sustainability targets, such as reducing greenhouse gas emissions. The EU’s Corporate Sustainability Reporting Directive (CSRD), taking effect in 2024, is just one example of this. By offering emissions reduction and compensation options, HRS helps customers fulfill their environmental obligations and stay in compliance with relevant regulations.

“This partnership with HRS holds immense potential for making business travel more sustainable on multiple continents,” said Philipp von Lamezan, CEO of SQUAKE. “Our companies are aligned on an “automation first” mindset when it comes to developing solutions to help corporations meet this moment. We’re looking forward to playing our role with HRS’ clients to help move them all closer to their Net-Zero goal.”

Corporate hotel program leaders, hotel executives and media can learn more about the impact of sustainability-related trends in lodging procurement via this recent report from HRS. The company will also showcase the Green Stay Initiative and the new partnership with SQUAKE at stand # G51 at the upcoming Business Travel Show Europe in London on 29-30 June.

About HRS

HRS is reinventing how businesses and governments work, stay and pay in today’s evolving global marketplace. Our technology brings together hotel procurement, booking, payment and reconciliation data to drive newfound transparency and savings for program management while making everyday business travel better for employees. HRS’ unique platform approach to corporate lodging elevates hotel automation to new heights, while the company’s award-winning Green Stay Initiative technology helps companies achieve their climate targets. Find out more about why one-third of the Fortune 500 work with us today at www.hrs.com/enterprise and follow HRS on LinkedIn.

ABOUT SQUAKE

Fast. Scalable. Secure. SQUAKE is the industry solution for sustainable travel and transport, today. SQUAKE offers a single API plug-in to power precise carbon calculations for all types of travel activity (flights, car rides, hotel stays) according to national and international standards. It automates carbon reduction and/or compensation throughout the purchase flow, from vendor selection (SAF, DAC, ecological restoration), to inventory management, invoicing and credit retirement. Learn more at www.squake.earth.