Mercedes F1 Team Unveils Investments In Carbon Removal Initiatives

Mercedes F1 Team Unveils Investments In Carbon Removal Initiatives - Carbon Herald

Mercedes-AMG PETRONAS F1 Team has announced a new investment round in innovative carbon removal initiatives, with a first project facilitated by Frontier, aiming to position themselves as one of the world’s most sustainable sports teams.

The move is part of their boarder commitment to sustainability, which includes a 75% emissions reduction target by 2030 and Science-Based Targets initiative (SBTi) aligned goals for our entire supply chain to achieve net zero by 2040.

While emissions reduction remains the primary focus, we acknowledge that some sectors will still have residual emissions requiring high-quality, lasting carbon removals, Mercedes said in a statement on its website.

Following the Oxford Offsetting Principles, the world-class race team looks to invest in high-quality projects with long durability and low risk of carbon release.

Mercedes’ initial investment in permanent, technology-based carbon removal solutions is an upfront purchase, facilitated by Frontier, helping scale promising startups by providing guaranteed demand and development.

Relevant: Frontier Buys $48.6M Worth Of Bioenergy With CCS Credits From Stockholm Exergi

Through this agreement, which involves technologies like direct air capture (DAC), enhanced weathering, and biomass sequestration, they aim to accelerate carbon removal technologies that store carbon permanently, do not compete for arable land, and have a path to affordability.

These carbon removal credits are expected to contribute to their permanent removals by 2027.

Additionally, Mercedes have committed to a three-year soil carbon removal project in Leicestershire, the UK, generating credits to offset a portion of our residual emissions.

By purchasing nature-based carbon removal credits from Respira International, they are enhancing soil health, boosting productivity, and nurturing biodiversity.

This agreement represents a new carbon accounting methodology, upholding the highest levels of credibility and trust.

“Innovation is at the heart of everything we do, both on and off the track. These new projects reflect our commitment to pioneering solutions that not only mitigate our environmental impact but also drive broader change,” Alice Ashpitel, Head of Sustainability for Mercedes F1 Team, said in a comment.

Read more: Respira To Buy Up To 50,000 Carbon Credits From Capture6

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