It has submitted its targets for reducing emissions from its aircraft, cruise ships and hotels to non-governmental organisation Science Based Targets initiative (SBTi) for validation.

Accreditation of these targets is expected by the end of the year and will confirm the ambitious 2030 emission reduction targets set by Tui are based on the latest findings of climate science and are in line with the goals of the Paris Agreement.

The group has set itself the goal of achieving net-zero emissions across its operations by 2050, at the latest. A key step towards this are the "emissions roadmaps" for its airline, cruise and hotel business areas – which represent 99% of its emissions.

For each of the three business segments, studies have been carried out and action plans have been developed to realise significant reductions in emissions by 2030.

"We want to set the standard for sustainability in the market and live up to our commitment as market leader," said Sebastian Ebel, future Tui Group chief executive.

"Our focus on emissions is clear: We are committed to avoiding and reducing emissions rather than offsetting them. Our airlines are already among the most carbon-efficient in the world.

"What is clear, is that we want to and we will speed up and do more. I am convinced that sustainable transformation is not a cost factor, but that sustainability pays off – for society, for the environment and for business."