The Mercedes-AMG Petronas Formula One Team has announced the expansion of its carbon removals portfolio.
The team has introduced seven new projects across six technology types, including solutions in direct air capture, biomass storage, bioenergy with carbon capture and storage, biochar, ocean alkalinity enhancement and enhanced rock weathering.
It added that the projects are designed to maximise synergies with the F1 race calendar, with actions in Brazil, Canada, the US and the UK, alongside projects in Denmark and India.
In total, it is investing approximately 18,900 tCO2e of nature-based, hybrid and engineered projects, as it seeks to meet its target of Race Team Control Net Zero by 2030.
The expanded, multi-year portfolio will be curated and delivered in partnership with CUR8, a carbon removal marketplace that assesses and verifies carbon removal projects to ensure project delivery.
Tackling residual emissions
The team announced the expansion during the Economist Impact Sustainability Week, where Alice Ashpitel, its head of sustainability, commented, “Emissions reduction remains our priority, and high-quality carbon removals are essential for tackling the residual emissions that remain.
“By investing early across a diverse set of technologies and regions, we’re contributing to upscaling durable climate solutions while supporting the communities and environments in which we race. As a team, we are determined to engineer change on and off the track, so I’m proud to see our ambitious portfolio aiming to deliver meaningful impact far beyond our world.”
The team said that its partners, including Signify, UBS and Nasdaq, are aligned with its commitment to ‘high-integrity climate solutions’, also acknowledging the efforts of Meta AI and Microsoft in accelerating the carbon removals market.
It added that carbon removals form part of its broader sustainability strategy, with its approach guided by the Oxford Offsetting Principles, which set out guidance on the use of carbon offsets and removals in net zero strategies. Read more here.
