Formula 1® proves that it can also face the challenge of sustainability while keeping the magic alive in each spectacle. Banco Santander is a proud contributor to that goal as Scuderia Ferrari's sponsor. Together with Formula One Management (FOM) we find in technology the best ally for this mission. Achieving a sustainable model based on Net Zero carbon emissions requires innovation. This team works in that direction and, ultimately, to promote the change that the planet deserves.
In the 1950s, the first electric car was already circulating in Spain. It was the idea of an engineer from Seville who sought to create a more efficient car that did not need fuel to run. Today, his great-grandson is studying Automotive Engineering, dreaming that one day, Formula 1® could be as efficient as the car his great-grandfather created.
This dream is getting closer every day thanks to the commitment of F1®, Ferrari and Santander to fight climate change by creating a Net Zero Carbon competition by 2030.
Formula 1® is known as the Grand Circus because the same family of drivers, engineers, organizers, logistics, etc. travel to all the Grand Prix races. Everything is assembled and disassembled at each circuit and transported to the country where the next race will be held. It’s like a circus on tour but this transportation is very energy-intensive. However, this is changing and F1® is already implementing many measures to save energy and reduce its carbon footprint. Since 2021, all broadcasts are carried out from the Media & Technology Centre (M&TC), located in the UK, a permanent production unit that has reduced the number of people and materials traveling to each circuit by 35%, as well as the CO2 emissions resulting from travel. In addition to its contribution to the planet, the remote operations model promotes a better work-life balance for the entire Ferrari family.
The Maasai community has a proverb that means "The land we live on is not inherited from our parents, but borrowed from our children". It is a sign of the great respect that the inhabitants of this community feel for their environment and for the planet. 6,000 kms away, there is a project with the same name, “Masai”, led by Fernando Moreno, a professor at the Universidad de Granada, who shares the same values. Its aim is to work with recycled materials, such as tires discarded by cars after use, to turn them into asphalt for roads, making them much more sustainable and durable.
Achieving more sustainable mobility is the goal of Banco Santander, Ferrari and FOM. The 3 companies are working together to promote projects that help decarbonization and encourage the shared use of low-cost vehicles, such as hyperloop solutions for passenger and freight transport, or renewable hydrogen for SMEs. Ideas that need to go hand in hand with technology to become reality and that have been recognized in Santander X Global Challenge | Countdown 2 Zero, the global entrepreneurship challenge that puts Santander in pole position in the fight against climate change.
Carlos Sainz and Charles Leclerc, as F1® drivers, every day face the challenge of making the competition more sustainable by piloting racing cars. But Scuderia Ferrari has an even bigger challenge: to transfer the efficiency of racing cars achieved through hybrid engines to road cars. Something unthinkable a few years ago.
It was in 2020 when Banco Santander achieved our goal of becoming carbon neutral. At that time, Elmsbrook, a small residential area in the city of Bicester, 18 km northeast of Oxford, was taking the first steps towards becoming the UK's first eco-town. Today it is a small community made up of 400 efficient houses that take care of the planet thanks to the solar panels installed on their roofs. In addition, the city is surrounded by streets with electric buses and all kinds of sustainable mobility vehicles.
Banco Santander
Banco Santander, leaders in responsible banking, are firmly committed to progress as well as inclusive and sustainable growth. Their pioneering and long-standing commitment to education, entrepreneurship, and employment through Santander Universities, which has been operating in this area for over 27 years, sets Banco Santander apart from the world's other financial institutions. Since its inception, the bank has allocated over €2.3 billion and supported more than 1.5 million students, business professionals, and entrepreneurial projects through agreements with over 1.200 universities, institutions and organisations from 26 countries.
Formula 1®
Formula 1® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. Formula One World Championship Limited is part of Formula 1® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.
*The F1 logo, FORMULA 1, F1, GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.