The Mercedes-AMG PETRONAS F1 Team recently joined forces with a nature-based carbon developer to support high-quality carbon removal projects across the Southeastern United States.
The team’s work with Chestnut Carbon will help deliver impactful climate projects that scale the rejuvenation of marginal land, the organizations said in a press release announcing the partnership. The first project, part of Chestnut’s larger Sustainable Restoration Project, equates to the restoration of approximately 500 acres of degraded agricultural acreage into vibrant biodiverse forests through the planting of over 260,000 native trees.
“We are determined to lead by example in the pursuit of sustainability. We’re excited about the growth of our sport in the United States and committed to supporting projects there as we work toward our goals,” said Toto Wolff, team principal and CEO, Mercedes-AMG PETRONAS F1 Team. “This collaboration is an important step in our strategy to address residual emissions in our carbon footprint. It underscores our commitment to become one of the most sustainable global sports teams.”
Although emissions reduction remains the team’s primary focus, it recognizes that some areas within its carbon footprint may have residual emissions that require removals of the highest quality, in line with the Oxford Offsetting Principles.
By investing in Chestnut Carbon now, Mercedes-AMG PETRONAS F1 Team is securing nature-based carbon removal credits to compensate for future residual emissions and encouraging the growth of this key sector.
“Working with Chestnut Carbon is another step in our mission to drive sustainability and environmental responsibility within the motorsport industry,” said Alice Ashpitel, head of sustainability, Mercedes-AMG PETRONAS F1 Team. “Our collaboration allows us to support projects that not only sequester carbon but also enhance biodiversity, improve air and water quality, and provide economic benefits to local communities. These efforts are integral to our goal of fostering ecological protection and our commitment to protect and enhance local habitats. This latest investment forms a key part of our broader portfolio of nature and tech-based carbon removal initiatives.”
The forward purchase of credits, set to be delivered between 2027 and 2030, equates to 5,500 tons of CO2. Although a small part of the team’s total footprint, officials call it an important step in its overall emissions reduction, with a target of Race Team Control Net Zero by 2030.
Chestnut Carbon’s projects focus on land previously used for monocrops and methane-heavy cattle production. To date, it has planted more than 10 million trees, with a diverse mix of native pine and over 18 different hardwood species that will capture and remove over 1 million tons of carbon by 2040.
In addition to restoring degraded crop and pasture lands to healthy forests, the projects will also improve the air, water and biodiversity of the region and will bring economic benefits to rural communities by sourcing seedlings locally, hiring resident experts and employing local people for planting activities, the release stated.
The initiative is the latest addition to Mercedes-AMG PETRONAS F1 Team’s portfolio of nature and tech-based carbon removal projects. By collaborating with Chestnut Carbon, the team has chosen to invest in a project that is registered with the Gold Standard for Global Goals. This standard sits under one of the most rigorous forest carbon methodologies, with highly conservative carbon accounting, third-party auditing and unassailable additionality, according to officials.
Mercedes-AMG PETRONAS F1 Team’s latest Sustainability Report was published in July 2024. To view and for further information on the team’s ambitions, please visit the Sustainability section of its website.