Formula 1 renewable energy shift drives 26% drop in carbon footprint
Often referred to as 'the pinnacle of motorsport', the racecar organisation, which hosts an annual championship featuring the best drivers in the world, has seen its carbon emissions drop 26 per cent since 2018.
At the end of the 2024 season, the sport's carbon footprint fell to 168,720 tonnes of carbon dioxide equivalent from 228,793. F1 said on Wednesday (Jul 23) that it's halfway towards achieving its minimum 50 per cent reduction target, as set out in its 'net zero by 2030' commitment.
'It's the culmination of a lot of work,' said Ellen Jones, head of environmental, social and governance at F1. 'We have changed the way we operate, changed the way we work' with the racing teams and promoters, as well as Formula 1's management and regulator, she said.
A major factor in the reductions has been a years-long shift to renewable energy, Jones said. Investment in sustainable aviation fuel for travel and freight use, and other alternative energy sources, including solar and biofuels, contributed to the decline.
Next year, F1 has set a target for the cars to have new hybrid engines and be powered entirely by advanced sustainable fuel.
A NEWSLETTER FOR YOU
Friday, 12.30 pm ESG Insights
An exclusive weekly report on the latest environmental, social and governance issues.
Sign Up
Sign Up
The sport has achieved carbon reductions across the four major categories that it tracks: factories and facilities, down 59 per cent since 2018; logistics, down 9 per cent; event operations, down 12 per cent on a per-race basis; and travel, down 25 per cent.
An increase in using remote operations and changes to the race schedule have also resulted in lower greenhouse gas emissions. Having remote broadcast operations has allowed about 140 personnel to avoid having to travel to the race location each weekend. And changing the date of the Japanese Grand Prix to align with other races last year in the Asia-Pacific region also contributed to lower emissions.
In 2026, the date of the Monaco Grand Prix will be moved to align with other European events and eliminate an additional transatlantic crossing.
F1 said its climate commitment is 'set in accordance with the science' from the Intergovernmental Panel on Climate Change and aligns with the panel's definition of net zero emissions. The racing series' goal is to reduce absolute emissions by a minimum of 50 per cent from a 2018 baseline, which was calculated using guidance set by the Greenhouse Gas Protocol.
F1 has faced criticism from activists who say the sport is harmful to the environment. In 2022, demonstrators with Just Stop Oil sat on the track during the 2022 British Grand Prix, disrupting the race. The construction of Madrid's Grand Prix street circuit also has prompted backlash.
The Brazilian leg of the F1 schedule takes place in November, days before the 2025 United Nations Climate Change Conference, which will be hosted in the South American country. BLOOMBERG
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
an hour ago
- Business Times
Europe: Automakers propel shares to two-week highs on US-EU trade deal optimism
EUROPEAN shares closed near two-week highs on Wednesday, led by automakers, as investors anticipated a possible agreement between the United States and European Union to soften the blow of growth-denting tariffs. Futures tracking the pan-European Stoxx 600 index got a further boost and were last up 2.1 per cent as EU diplomats said the bloc and Washington were headed for a potential trade deal including a 15 per cent US baseline tariff on European imports - half the level US President Donald Trump had threatened. Negotiations between the two economies have lagged in recent weeks, and investors are keen for an agreement before the Aug 1 deadline. The European Commission is planning to unveil counter-tariffs if the talks fail. The benchmark Stoxx index closed 1.08 per cent higher at 550.22 and logged its biggest one-day gain in nearly a month, after Japan struck a trade deal with the US, sparking a rally in automobile stocks earlier in the day. 'One of the premises underlying global markets is that once tariffs are implemented, they will not be as negative as feared,' said Steve Sosnick, chief market analyst at Interactive Brokers. 'From the European point of view, it's understandable why that would be perceived as good news, because it's reasonable to think that there will be some sort of negotiation between the US and the EU to arrive at a deal'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Most of the major bourses in the region, including Germany's DAX, France's CAC 40 along with main stock indexes in Italy, rallied more than 1.3 per cent. European automobile stocks surged 3.7 per cent and logged its biggest daily rise in close to a month, tracking a steep rally by some Asian rivals. European carmakers such as Stellantis, Mercedes-Benz, Volkswagen and Porsche gained between 6.1 per cent and 7.3 per cent. Earnings were also on the radar, with technology stocks bogged down by a 4.1 per cent slide in SAP as investors were disappointed the software company held off on increasing full-year targets after reporting higher quarterly sales and earnings. ASM International dropped the most on the benchmark index, down 10.4 per cent, after the computer chip equipment maker reported second-quarter bookings below market expectations. UniCredit rose 3.6 per cent after the Italian lender posted higher-than-expected quarterly profit and raised its fiscal-year outlook, a day after a clash with the government prompted Italy's second biggest bank to ditch its takeover bid for rival Banco BPM. Nokia, meanwhile, slumped 7.6 per cent after the Finnish group lowered its guidance for 2025 comparable operating profit, while SSAB's slid 9 per cent after earnings fell more than expected in the second quarter. Spanish stocks were limited by a 4.7 per cent drop in Iberdrola after the utilities company raised 5 billion euros (S$7.5 billion) to help pay for a big rise in investments in power grids in Britain and the United States. REUTERS
Straits Times
3 hours ago
- Straits Times
US, EU trade talks boosted by Trump's agreement with Japan
FILE PHOTO: Stacked containers and cranes are shown at the Port of Los Angeles in Los Angeles, California, U.S., November 22, 2021. REUTERS/Mike Blake/File Photo BRUSSELS/WASHINGTON - The European Union and the U.S. are heading for a potential trade deal that includes a 15% U.S. baseline tariff on EU goods and possible exemptions, two European diplomats said on Wednesday, potentially moving President Donald Trump closer to securing another major trade agreement hours after he unveiled one with Japan. European negotiators were hoping to reach an agreement to dodge the 30% tariff rate Trump has said he would impose on imports from the 27-nation bloc on August 1. The rate, which could also extend to cars, would mirror the framework agreement the U.S. has struck with Japan, which Trump announced late on Tuesday. The deal could include exemptions for some EU goods, the diplomats said. As talks continued, the European Commission said it would press on with potential counter-measures in case a deal was not reached. EU member states were set to vote on 93 billion euros of counter-tariffs on U.S. goods on Thursday, European diplomats said. A broad majority of members support using anti-coercion instruments if there is no deal, they said. Trump was hoping for a boost from the complicated deal reached with Japan, the largest foreign investor in the U.S., which included a $550 investment and loan pledges from Japan and its commitment to buy 100 Boeing airplanes and boost purchases of U.S. agricultural products. Tariffs on Japan's auto sector will drop from 27.5% to 15% as part of the agreement, reviving hopes for a similar deal for EU cars. Top stories Swipe. Select. Stay informed. Singapore Judge asks prosecution for more information on Kpods in first case involving etomidate-laced vapes World In landmark opinion, World Court says countries must address climate change threat Singapore 5 teens arrested for threatening boy with knife, 2 charged with causing hurt Singapore Male victim of fatal Toa Payoh fire was known to keep many things, say residents Sport Bukayo Saka the difference as Arsenal beat AC Milan at National Stadium Singapore HDB launches 10,209 BTO and balance flats, as priority scheme for singles kicks in Singapore Over 1.15 million Singaporeans aged 21 to 59 have claimed SG60 vouchers Singapore Cyclist charged after allegedly hitting elderly pedestrian, killing him Asian and European stock markets rallied as investors cheered that agreement, but U.S. stocks showed a more modest rise and earnings reports were gloomy. U.S. businesses making everything from chips to steel reported downbeat results on Wednesday, revealing how the Trump administration's chaotic trade policy has hurt profits, added to costs, upended supply chains and weighed on consumer confidence. Trump said late on Tuesday that other countries would be coming for talks this week and governments were scrambling to close trade deals before next week's deadline that the White House has repeatedly pushed back under pressure from markets and intense lobbying by industry. AUTO TARIFFS Automobile stocks led the climb of European shares after the Japan deal spurred hopes that the U.S. was budging over tariffs on EU cars. EU officials have previously said Washington has shown little sign of doing so. U.S. Treasury Secretary Scott Bessent said in an interview with Bloomberg Television that Japan received the 15% rate on auto tariffs "because they were willing to provide this innovative financing mechanism" that he did not think other countries could replicate. Trump, however, has appeared open to a range of options as the U.S. negotiates trade deals. "I will only lower tariffs if a country agrees to open its market," Trump wrote in a social media post on Wednesday. In addition to talks in Washington, the European Trade Commissioner Maros Sefcovic planned to speak with U.S. Commerce Secretary Howard Lutnick on Wednesday from Brussels. REUTERS
Straits Times
4 hours ago
- Straits Times
Chinese engines, shipped as ‘cooling units', power Russian drones used in Ukraine
Find out what's new on ST website and app. Ukrainian Foreign Minister Andrii Sybiha and visiting Israeli Foreign Minister Gideon Saar viewing a Russian "Geran" drone - a copy of an Iranian-made Shahed-136 - in Kyiv, Ukraine, on July 23. LONDON - Chinese-made engines are being covertly shipped via front companies to a state-owned drone manufacturer in Russia, labelled as 'industrial refrigeration units' to avoid detection in the wake of Western sanctions, according to three European security officials and documents reviewed by Reuters. The shipments have allowed Russian weapons-maker IEMZ Kupol to increase its production of the Garpiya-A1 attack drone, despite the US and EU sanctions imposed in October designed to disrupt its supply chain, according to the sources and documents, which included contracts, invoices and customs paperwork. An internal Kupol document, reviewed by Reuters, showed it signed a contract with the Russian defence ministry to produce more than 6,000 Garpiya this year, up from 2,000 in 2024. The document stated that more than 1,500 drones had already been delivered by April. The long-range drone is being deployed to attack civilian and military targets deep within Ukrainian territory, with around 500 being used by Russia a month, the Ukrainian military intelligence agency said in a statement to Reuters. The European security officials asked that neither they nor their organisation be identified due to the sensitivity of the information. They also requested some specific details in the documents be withheld, such as their dates and the cost of contracts. In September, Reuters reported that Kupol was producing the Garpiya using Chinese technology, including L550E engines made by Xiamen Limbach Aviation Engine Co. A month after the Reuters' report, the European Union and the US sanctioned several companies involved in producing the drones, including Xiamen. In the wake of the sanctions, a new Chinese firm called Beijing Xichao International Technology and Trade has started supplying the L550E engines to Kupol, according to invoices, a Kupol internal letter and transportation documents reviewed by Reuters. The increase in production of Garpiya as well as the new intermediaries supplying parts for the drones are reported by Reuters for the first time. The news agency could not determine how Xichao obtained the engines from the maker Xiamen Limbach. Xiamen Limbach did not respond to a request for comment and Reuters was unable to reach Xichao. IEMZ Kupol, Russia's trade and industry ministry and the defence ministry also did not respond to a request for comment. In a statement to Reuters, China's foreign ministry said it was unaware of the export of parts for the Garpiya and it has controlled foreign sales of dual-use goods in line with China's own laws and international obligations. 'China has always opposed unilateral sanctions that lack basis in international law and are not authorised by the UN Security Council,' the statement said. The European Commission did not immediately respond to a request for comment. Both the US and EU have repeatedly imposed sanctions on companies in third-party countries, including China, alleged to have provided dual-use technology to Russia. Kupol has been sanctioned since December 2022 by the EU and December 2023 by the US for its involvement in Russia's defence sector. Diplomatic warnings European Commission President Ursula von der Leyen is due to travel to China for a summit with Chinese President Xi Jinping and Premier Li Qiang on July 24, amid tensions over Beijing's support for Russia's war effort. The European Union's top diplomat Kaja Kallas told Chinese Foreign Minister Wang Yi on July 2 that Chinese firms' support for Russia in the war posed a threat to European security and she urged China to cease trade that sustains Russia's military machine, the EU said in a statement. Meia Nouwens, senior fellow for Chinese security and defence policy at the London-based International Institute for Strategic Studies (IISS), said China's prime concern was to help sustain Russia's war effort to ensure the United States remained focused on Ukraine. 'This does not help China and Europe come closer together, diplomatically,' she said. China says it imposes strict controls on the export of drones and their parts and has never provided either side of the war in Ukraine with lethal weapons. A person familiar with Beijing's thinking on the issue said that China produces around 75 per cent of world's drones, with the majority not for military purposes; if Russia was using them as weapons, then the same was also true of Ukraine, the person added. Ahead of the July 24 summit, one European official said the EU was not asking China to cut economic ties with Russia but to strengthen customs and financial controls to reduce the flow of specific dual-use goods. The Garpiya, which means harpy in Russian, is based on the Iranian-made Shahed drones but relies on Chinese technology, the three European sources said. The Ukrainian military intelligence agency said the Chinese-made components in the drone included the engine, control systems, and navigation equipment. The engines were shipped by Xichao to a Russian front company identified as SMP-138, which then forwarded them to a second Russian firm LIBSS, according to another internal Kupol document, seen by Reuters. Mr Abram Goldman, registered as the owner of SMP-138, did not respond to an emailed request for comment. LIBSS also did not respond to Reuters' questions. A contract for LIBSS to supply Kupol with the engines, reviewed by Reuters, stated they would be described as cooling units in shipping documents because of their sensitivity. The delivery route was from Beijing to Moscow then to Izhevsk, where Kupol has manufacturing facilities. Describing them as cooling units allowed the goods to be exported to Russia without alerting Chinese authorities, the three security officials said. Transportation documents reviewed by Reuters showed that Sichuan Airlines and China Southern Airlines, China's largest carrier, had transported components for the drones to sanctioned Russian companies since October. China Southern did not respond to Reuters' questions and Sichuan could not be reached for comment. REUTERS
