world

Mercedes F1 invests in Sustainable Aviation Fuel to become SBTi-verified

Mercedes F1 invests in Sustainable Aviation Fuel to become SBTi-verified

The Mercedes-AMG PETRONAS F1 Team has announced that it has become the very first international sports team that has committed to funding Sustainable Aviation Fuel to reduce CO2 emissions and meet its vision of becoming SBTi-verified Net Zero by the year 2030.

The firm considers sustainability as its core operation, said Mercedes, adding that as a Formula One team competing on several continents, it has been working determinedly to understand the environmental impact that the firm holds and the things it can follow in creating changes.

As Formula One runs at the vanguard of automotive technology, the firm is responsible for ensuring that it is at the cutting edge of modernization in sustainable technologies.

For those unaware, SAF (Sustainable Aviation Fuel) is renewable or waste-derived aviation fuel, an evolving technology established by the International Civil Aviation Organization for working as an organization to play a significant role in lowering future international aviation emissions.

With aviation reporting for over a quarter of the firm's estimated carbon footprint, the multi-million-dollar capital in SAF is expected to augment the overall environmental impact. The industry-leading expertise further supports the journey towards Net Zero.

SAF is further said to be a significant component of the team's sustainability strategy, showcasing the firm's desire to bring change within Formula One for more sustainable racing.

The SAF purchase will be used for the indirect Scope 3 aviation emissions, which are eliminated from the cost cap of Formula One, such as flights to Grand Prix sites and other business air travel.

By acquiring SAF claims, the firm will achieve around a 50% reduction in the race team personnel air travel footprint and is expected to continue to counteract the outstanding aviation carbon releases with Gold Standard offsets as the firm works with the industry to scale SAF availability.

Source Credit - https://www.automobilsport.com/race-categories--24,240307,Mercedes-AMG-PETRONAS-Formula-One-Team-becomes-first-global-sports-team-to-invest-in-Sustainable-Aviation-Fuel,news.htm

About the author

Anjali Mishra

Anjali Mishra

A postgraduate in Criminal Law, Anjali Mishra uses her analytical skills to understand and write about all things market. Anjali holds a keen interest in writing insightful articles on healthcare, business, finance, and emerging technologies for AlpenHornNews and numerous other portals. Coming from outside the economical milieu, Anjali aims to write in a way that helps readers with non-technical knowledge understand technical concepts with ease.