Motorsport racing championship Formula 1 has made its first investment into sustainable aviation fuel (SAF) through a ‘book and claim’ deal with its air cargo partner DHL.
Part of the championship’s efforts to reach net zero by 2030, the newly signed deal covers a volume of SAF equivalent to 20% of the fuel needed for cargo flights to and from flyaway races in the Formula 1 calendar since the Australian Grand Prix in late March 2024.
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The investment is not a direct purchase of SAF for flights operated to and from Formula 1 races, but instead uses the ‘book and claim’ system to allow 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, said: “SAF is just the latest step for the business, and underscores how alternative fuels both on and off track can materially reduce carbon emissions.
“This delivery of our sustainability strategy is only made possible through coordinated actions across our sport.”
According to DHL, Formula 1’s investment will allow it save more than 4,500 tonnes of carbon dioxide equivalent (tCO2e) over the 2024 racing season, compared to the tCO2e of conventional jet fuel.
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By GlobalDataUse of ‘book and claim’ deals has a become a popular way for companies to invest into SAF and claims the emissions reductions gained from using the fuel as the aviation industry attempts to build up the global SAF supply chain.
Currently, the industry has struggled to produce SAF in the volumes, and at the price, needed to fuel air travel at a wide scale, with most airlines instead opting to use SAF in small blends of less than 5% with conventional jet fuel.
While use of SAF can offer up to 80% emissions reductions compared to the lifecycle of conventional jet fuel, the use of SAF in small blends means its impact on carbon reductions per flight is significantly lower.
However, Formula 1 said its SAF investment is just one part of its net zero strategy, working alongside schemes such as the redesigning of cargo containers to fit onto more efficient Boeing 777 freighters and the use of biofuel-powered trucks to deliver cargo for the nine European Grands Prix in the championship calendar.
