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Few fans would associate Formula 1 racing<\/a> with sustainability, but perhaps incongruously for a sport that glorifies combustion, the league has a goal to reach net-zero carbon emissions by 2030.<\/p>\n For F1 teams, it\u2019s not as simple as burning sustainable fuels in their race cars\u2019 engines. In fact, the cars are responsible for less than 1% of a team\u2019s carbon footprint. The vast majority comes from everything else, including race-oriented logistics, business travel, office space, computers and so on.<\/p>\n To offset some of the more challenging sources, the Mercedes-AMG Petronas team is buying 5,500 metric tons worth of carbon credits from Chestnut Carbon, which plants forests on degraded farmland in the southeastern U.S.<\/p>\n The credits are slated to be delivered in 2027 through 2030. In total, they represent about 10% of the team\u2019s emissions in 2023. Mercedes-AMG Petronas aims to reduce emissions by 75% by 2030 and hit net-zero carbon emissions in 2040.<\/p>\n Though Mercedes-AMG Petronas\u2019 new carbon credit purchase is small, the team also has inked a deal with Frontier, the advanced market commitment organization backed by Stripe, Google, Meta, Shopify, and others.<\/p>\n Chestnut Carbon recently closed a deal<\/a> with Microsoft for 7 million metric tons of carbon credits, and it raised $160 million in a Series B<\/a> round to expand its operations. The startup is aiming to deliver 100 million carbon credits by 2030.<\/p>\n<\/div>\n