The adventure specialist is retiring its long-standing carbon offset programme and Climate Active certification, and will instead directly invest in emissions reduction through a dedicated Climate Impact Fund.
"The truth was that after working in climate for 20 years, our approach wasn’t achieving the real-world impact that we wanted, or that the Earth needs," said chief executive James Thornton.
Under the revised framework, Intrepid is targeting a 21% absolute reduction in direct and indirect emissions (Scope 1 and 2) by 2030, alongside an 8% reduction in lifecycle carbon intensity per customer per day across Scope 3 emissions, which comprises all suppliers – including flights.
The Climate Impact Fund will support initiatives including transitioning offices and accommodation to renewable energy, electrifying vehicle fleets, sourcing lower-carbon fuels and supporting suppliers to decarbonise.
Flights slashed in eco-friendly bid
Product development remains a key lever in reducing emissions, with the company removing internal flights from 135 departures in 2025 and committing to launching no new itineraries featuring internal flights.
Operational changes are also under way, with the proportion of country offices offering electric vehicle airport transfers increasing from 39% to 74%.
Despite the positive trajectory, Intrepid acknowledged ongoing external challenges – including the current Middle East crisis – which could impact international flight routes and wider travel demand.
However, the operator said it would continue "to navigate those impacts responsibly" while maintaining its long-term growth and sustainability ambitions.
'On track' to exceed Aus $1bn in bookings
This strategy reset comes against a backdrop of strong financial performance. Intrepid reported bookings of Aus $873.3 million in 2025, up by 26% year-on-year, with revenue rising by 29% to Aus $809.3 million.
Intrepid chair Darrell Wade said the business was "well ahead" of its 2030 targets, having grown by "nearly 30%" during the year while also achieving record profits of Aus $29 million.
These results were achieved despite the "challenging macroeconomic environment," with Intrepid noting natural disasters in key destinations and heightened political uncertainty in the US market as the year's major barriers to travel.
Nevertheless, the operator is now on track to exceed Aus $1 billion in bookings for the first time in 2026, a milestone Wade said would unlock "further investment in staff development and local communities".
Growth has been supported by expansion across key international markets, including targeted acquisitions in non-English-speaking Europe such as Netherlands-based Sawadee Reizen, and the opening of new offices in Denmark, Chile and Uganda, bringing its global network to 31 country offices.
Intrepid has also bolstered its US presence with a new sales and marketing office in Seattle and an operational hub in Denver, while investing in technology, revenue management and procurement as part of a wider "platform for success".