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Sustainability is playing an increasingly important role in the sports industry.
On Wednesday, Dec. 22, Formula E published its annual sustainability report following the eco-friendly championship’s seventh season.
- Formula E became the first sport in the world to join the Science Based Targets initiative and the Business Ambition for 1.5°C commitment and plans to reduce its emissions by 45% by 2030.
- The new Gen3 racing car was unveiled by Formula E and the FIA for Season 9. It will be the world’s most efficient racing car with 40% of the energy in a race coming from regeneration and will be certified net-zero carbon.
- Formula E is also the first global sports organization to partner with UNICEF on climate change.
Formula E is quickly growing in popularity. Race viewership increased by 125% in key overseas markets with 25% year-over-year growth in domestic markets.
A Lucrative Investment
Being a leader in sustainability could ultimately be a lucrative advantage. Fund flows (the net transfer of money into and out of funds) for sustainability-based investments increased 40% in 2021 to $330 billion — indicating increased interest in all things “carbon-friendly.”
If you’re interested in learning more about the evolving role of sustainability in sports, check out our Insights report on the topic.
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