The Mercedes-AMG PETRONAS F1 Team has initiated a new investment programme in carbon removal projects to support their sustainability goals. This comes amidst controversy as a coalition of nonprofits opposes carbon offsets, while Johnson Controls secures a spot on the Financial Times Europe Climate Leaders list for their emission reductions.
Mercedes-AMG PETRONAS F1 Team has launched a new investment initiative in carbon removal projects as part of their broader sustainability commitment. This move aligns with their goals of reducing emissions by 75% by 2030 and achieving net zero emissions by 2040 through the Science-Based Targets initiative (SBTi).
The team’s initial project involves an upfront purchase of carbon removal credits facilitated by Frontier, focusing on long-term technologies like direct air capture, enhanced weathering, and biomass sequestration. These technologies aim to store carbon permanently without using arable land, contributing to net zero targets by 2027.
Additionally, the team has engaged in a three-year soil carbon removal project in Leicestershire, UK, in collaboration with Respira International. This project is designed to enhance soil health, productivity, and biodiversity while generating carbon credits to offset their emissions.
Alice Ashpitel, Head of Sustainability for Mercedes F1 Team, emphasized the team’s commitment to innovative solutions for mitigating environmental impact and driving broader change.
Separately, a coalition of over 80 nonprofits, including ClientEarth, Oxfam, and Greenpeace, has voiced opposition to carbon offsets. They argue that such credits could undermine genuine emission reductions and slow global efforts to combat climate change. They demand that climate frameworks should exclude offsetting in favor of direct emissions reductions.
In related news, Johnson Controls has been named to the Financial Times Europe Climate Leaders list for the fourth consecutive year. The company has significantly reduced its Scope 1 and 2 emissions by 44% since 2017 and Scope 3 emissions by 27%. Johnson Controls continues to invest heavily in climate-related technologies, aiming for net zero emissions through energy efficiency, electrification, and digital optimization.
Katie McGinty, Vice President of Sustainability at Johnson Controls, highlighted the successful implementation of these technologies as a critical factor in reducing emissions and promoting meaningful climate action.
