The two bodies will develop the first unified approach for calculating flight emissions, allowing passengers to estimate their carbon footprint when they fly.
Travalyst was founded by Prince Harry in 2019 and is backed by brands including Booking.com, Travelport, Expedia and Tripadvisor, although no airlines are involved.
Sally Davey, Travalyst chief executive, said: “This is the first time that airlines and the travel technology sector have come together in this way.