The Mercedes-AMG Petronas F1 Team has announced a partnership with the nature-based carbon developer, Chestnut Carbon, to promote high-quality carbon removal initiatives in the Southeastern US.
The collaboration between the Mercedes-AMG PETRONAS F1 Team and Chestnut Carbon will contribute to the delivery of significant climate projects that scale the rejuvenation of marginal land. The initial project, part of Chestnut’s wider Sustainable Restoration Project, involves restoring around 200 hectares of degraded agricultural land into lively biodiverse forests by the planting of over 260,000 native trees.
While emissions reduction remains the team’s primary goal, the unit acknowledges that some sections of their carbon footprint may have residual emissions that will necessitate the highest quality reductions, in accordance with the Oxford Offsetting Principles.
By investing in Chestnut Carbon now, Mercedes-AMG PETRONAS F1 Team secures nature-based carbon removal credits to make up for future residual emissions while also promoting the growth of this important sector.
This forward purchase of credits, which is scheduled to be distributed between 2027 and 2030, corresponds to 5,500 tonnes of CO2. Although this is a minor portion of the team’s total footprint, it is a vital step towards reducing overall emissions, with the goal of Race Team Control becoming net zero by 2030.
Chestnut Carbon’s efforts focus on land that was formerly used for monocrops and high-methane cattle production. Presently, Chestnut Carbon has grown over 10 million trees, including a wide mix of native pine and over 18 distinct hardwood species, which will capture and eliminate over one million tonnes of CO2 by 2040.
The projects will not only restore degraded crop and pasture lands to healthy forests, but they will also boost the region’s air, water, and biodiversity. Additionally, by sourcing seedlings locally, hiring local experts, and hiring locals for planting activities, the projects will aid rural communities economically.
Toto Wolff, Team Principal and CEO, Mercedes-AMG PETRONAS F1 Team, said, “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 towards our goals. 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.”
Alice Ashpitel, Head of Sustainability, Mercedes-AMG PETRONAS F1 Team, said, “Working with Chestnut Carbon is another step in our mission to drive sustainability and environmental responsibility within the motorsport industry. 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.”
Ben Dell, CEO, Chestnut Carbon and Managing Partner, Kimmeridge, commented, “We are excited to be working with the Mercedes-AMG PETRONAS F1 Team to advance their carbon removal efforts using high-quality nature-based solutions. Our commitment to the long-term success and sustainability of these projects is unwavering, which is why we prioritise the permanence of our initiatives. This commitment is reflected in our ownership of the land and our 100-year project design. Additionally, we have developed a comprehensive Community Engagement plan to ensure transparent communication and positive relationships with local stakeholders, reinforcing our dedication to both environmental stewardship and community support.”