Nissan Formula E partners seek transparent and accountable carbon offsets
The Nissan Formula E Team is to work with biotech company Vaxa Technologies to offset its carbon emissions generated during Season 9 of the Formula E World Championship.
The team is working with partner Coral, which specializes in reliably offsetting carbon emissions, to purchase offsets from Vaxa Technologies. The biotech company produces Icelandic ultra spirulina (IUS) in a verified carbon-negative process, which converts clean energy to food (E2F) by leveraging resources from the adjacent geothermal plant.
Offsetting Season 9’s emissions is the first of several steps laid out in a partnership signed by Nissan and Coral in late 2023. Coral will also help the team assess, monitor, reduce and offset its emissions for Season 10, using technology that employs a combination of tools including AI and blockchain. Coral claims its platform provides complete transparency and auditability for each credit that the Nissan Formula E Team acquires, ensuring that all its emissions are offset and fully evaluated in accordance with global emissions monitoring standards.
The Nissan team was also recently awarded FIA 3 Star Environmental Accreditation for a second year, further highlighting the team’s pledge to reduce its CO2e emissions.
Tommaso Volpe, managing director and team principal of the Nissan Formula E Team, commented, “Since partnering with Coral, we have wanted to be completely transparent about the actions we need to take to minimize the environmental impact of Nissan Formula E Team. Thanks to their technology, we were able to precisely calculate our carbon footprint from Season 9, while we can have absolute confidence that we’re offsetting all of our emissions with high-quality credits, investing in a fully verified project through a reliable platform.
“The Vaxa Impact project provides an innovative solution for one of the main contributors to climate change – animal agriculture – and we’re delighted to be investing in them. Their work also goes beyond sustainability, as their programs aim to close the gap in nutrition deficiencies for those in developing countries. This marks another great step toward Nissan Formula E Team’s carbon neutrality goals.”
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