Driving to Survive: F1 Impact Report - ESG

The 2023 Formula 1 Impact Report is a comprehensive document detailing how F1 is successfully delivering its sustainability strategy and diversity and inclusion aims through multiple Environmental, Social and Governance (ESG) activities. It includes data on F1’s 2022 carbon footprint that shows the sport is on target to meet the goals set out in its 2019 sustainability strategy.

Formula 1, the pinnacle of motorsport, has unveiled its inaugural Impact Report, marking a significant stride towards environmental sustainability and fostering diversity within the sport. This comprehensive document, released by the Federation Internationale de l'Automobile (FIA), provides a detailed overview of Formula 1's progress in achieving its sustainability goals and promoting inclusivity.

Sustainability Milestones

Central to Formula 1's vision is the commitment to achieve Net Zero Carbon by 2030, leaving a positive legacy wherever it races. The report reveals promising advancements in this area, with a notable 13% reduction in the sport's carbon footprint in 2022 compared to 2018. Formula 1's sustainability strategy, launched in 2019, outlines ambitious targets to cut emissions and embrace renewable energy sources.

Key Initiatives

Formula 1 is driving change through various initiatives, including:

1. Transition to Renewable Energy: Offices and team facilities are embracing renewable energy sources, contributing to the reduction of carbon emissions.

2. Sustainable Aviation Fuel: Efforts are underway to develop sustainable alternatives for necessary travel and logistics, mitigating the sport's carbon footprint.

3. Promoter Sites: Over 75% of promoters used renewable energy sources during Grands Prix in 2023, highlighting a concerted effort to adopt sustainable practices across the board.

Inclusion Efforts

In tandem with its sustainability goals, Formula 1 is actively working towards creating a more diverse and inclusive environment within the sport. Initiatives such as the F1 ACADEMY for female racers and engineering scholarships aim to nurture talent from underrepresented groups, paving the way for a more inclusive motorsport landscape.

Looking Ahead

While celebrating the achievements outlined in the Impact Report, Formula 1 acknowledges that there's still work to be done. The commitment to becoming Net Zero Carbon by 2030 remains steadfast, with ongoing projects and collaborations aimed at further reducing the sport's environmental impact.

Conclusion

Formula 1's inaugural Impact Report serves as a testament to its dedication to sustainability and inclusion. As the sport continues its journey towards Net Zero Carbon, it reaffirms its role as a catalyst for positive change, inspiring not only the motorsport community but also industries worldwide to embrace sustainability and diversity.

The full report can be found here - https://shorturl.at/ijGIY

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