McLaren Motor Racing Team competes in the IndyCar Series and Formula One. Its emissions are enormous, coming from motor racing and air travel. Also, the latter contributes a lot of carbon emissions since Formula One races happen in 22 countries in 2024.
The team agreed to buy carbon credits from reforestation projects in the Amazon and CO2 removal programs in the US and Britain. Also, its goal is to achieve net zero emissions by 2040. According to sportsbook pay per head experts, McLaren was to purchase carbon removal credits from Mombak. The latter conducts reforestation initiatives in the Amazon. In addition, it buys credits from UNDO, which removes carbon dioxide via rock weathering.
According to bookie PPH sources, McLaren partnered with the Great Barrier Reef Foundation, a non-profit organization based in Australia. Its goal is to restore coral reefs. In addition, Australian Oscar Piastri drives for McLaren in the F1 circuit.
McLaren hopes to reduce its CO2 emissions by 90 percent by 2040. Also, it will implement carbon offsetting and other initiatives for the remaining ten percent. However, the team did not disclose its budget for its Climate Contribution Program.
McLaren Motor Racing Team Aims for Net Zero
Mombak said the deal would provide McLaren with emission removals from 2023 to 2025. Also, the rate for its service is over $50 for every metric ton. It is more expensive than the traditional rate at the carbon credit market.
Companies can trade carbon credits that allow the owner to offset its greenhouse gas emissions. Also, each credit is equal to a ton of carbon dioxide. Mombak purchases degraded land from ranchers and farmers to replant trees in the Amazon. In addition, AXA and Bain Capital support Mombak.
The company recently raised $100 million to fund carbon removal projects in the rainforest. It hopes that the deal with McLaren can help improve the carbon removal industry in Brazil.
You can be an online bookie and accept wagers on Formula One and other auto-racing events. The best way to do so is with a pay per head solution.