Formula 1 invests in SAF with air cargo partner DHL
Formula 1 has made its first investment in sustainable aviation fuel (SAF) through a book and claim deal with its air cargo partner, DHL. This investment, which covers a volume of SAF equivalent to 20% of the fuel needed for cargo flights to and from flyaway races since the Australian Grand Prix in late March 2024, is part of the championship s efforts to reach net zero emissions by 2030. The deal does not involve a direct purchase of SAF for flights operated to and from Formula 1 races but allows the company to claim carbon reductions from the use of SAF on any of DHL s flights, up to the amount covered by its investment. Ellen Jones, head of ESG for Formula 1, emphasized that SAF is a crucial step in reducing carbon emissions both on and off the track. The investment is made possible through coordinated actions across the sport. According to DHL, Formula 1 s investment will save more than 4,500 tonnes of carbon dioxide equivalent (tCO2e) over the 2024 racing season, compared to the tCO2e of conventional jet fuel. The use of book and claim deals has become popular for companies investing in SAF, as the aviation industry struggles to produce SAF in the required volumes and at the needed price. While SAF can offer up to 80% emissions reductions compared to conventional jet fuel, its impact on carbon reductions per flight is significantly lower when used in small blends. Formula 1 s SAF investment is just one part of its net zero strategy, which also includes redesigning cargo containers to fit onto more efficient Boeing 777 freighters and using biofuel-powered trucks to deliver cargo for the nine European Grands Prix in the championship calendar. GlobalData offers comprehensive company profiles powered by their market research, which can help businesses make informed decisions. They offer a free sample to download by submitting a form. In summary, Formula 1 s investment in SAF through a book and claim deal with DHL is a significant step towards achieving net
Source: airport-technology.comPublished on 2024-09-20
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