ALLCOT Group launches its services related to project design and implementation in terms of Nature-based Solutions (NbS).
Natural based Solutions (NbS)—conservation, restoration, and land-management actions that increase carbon storage and avoid greenhouse-gas emissions—is considered one of the key measures to curb the growth of greenhouse-gas emissions and the urgent need to slow the destruction of the natural world for the global economic recovery. In fact, as argued in a new paper produced by McKinsey in partnership with the World Economic Forum, there is no clear path to deliver climate mitigation without investing in nature to overcome the global economic recovery after COVID-19 pandemic.
Greenhouse gas emissions from agriculture, forestry and other land use contribute to about a quarter of global emissions, and it is estimated that Natural based Solutions (NbS) projects can help deliver around one-third of net emission reductions needed by 2030. The Natural based Solutions (NbS) are regarded as a powerful tool to fight against climate change, biodiversity loss and food security. Given that world is currently seeking to emerge from the current pandemic and work towards the UN Sustainable Development Goals, it is a question of prime importance that future investments in nature reach their potential by contributing to the health and well-being of people and the planet. The main characteristics are as follows:
- are focused on addressing current social challenges, enabling the achievement of local benefits for both sustainable development and effective biodiversity protection.
- are actions aimed to achieve the protection, restoration or management of natural as well as semi-natural ecosystems. NbS also challenges the sustainable management of aquatic systems and land use, such as croplands or timberlands; also including the creation of novel ecosystems in and around cities.
- are intended to underpin biodiversity, effectively responding to the real needs of local communities and indigenous people.
To sum up, company owners, investors and policy as well as decision makers are currently urging for NbS initiatives, being effective and scalable, also implying potential externalities. Private-sector commitment to climate action is gaining momentum, with companies increasingly adopting strategies aimed at reaching net-zero emissions and some pledging to invest in nature through the purchase carbon credits (or “offsets”) generated from Natural based Solutions (NbS), as part of the effort.
Counting with a well-structured, experienced and appreciated technical competent team within stakeholder engagement works, local studies, design and project’s implementation phases, ALLCOT is ready to offer its customers new solutions involving NbS. Please contact us to learn more.
Mahindra Racing first Formula E team and FIA World Championship entrant to be certified net Zero Carbon Footprint since inception
- The most sustainable team on the grid becomes the first Formula E outfit and first FIA World Championship entrant to be certified Net Zero Carbon footprint
- Pledges to the UNFCCC Sports for Climate Action Framework
As it continues its vital sustainability work at pace, Mahindra Racing is pleased to announce that it is the first Formula E team, and first FIA World Championship entrant, to be certified Net Zero Carbon footprint since inception. The certification has been approved by the ALLCOT Group for carbon emission offsetting for the entirety of the team’s existence.
The emission allowances have been marked for permanent removal from the pool of offsetting credits at the Environmental Registry on behalf of the team’s chosen REDD+ Project.
Established in 2009, ALLCOT is a leader in greenhouse gas (GHG) emissions management tools and strategies for businesses of all sizes. By neutralizing GHG emissions, Mahindra Racing is not only able to protect the environment, but also provide community benefits that enhance profitability and brand value, increase employee satisfaction, to combat the climate crisis under Article 6 of the Paris Agreement, which is aligned with the UN 2030 Agenda, and promote the United Nations Sustainable Development Goals.
The REDD+ project protects 177,899 hectares of high conservation value rainforest in the state of Pará, Brazil and will prevent net emissions of >20 million tCO2e over the project lifetime. It is a registered Code REDD+ project; is validated and verified against VCS and in 2012 attained CCBA Gold level accreditation. This project protects threatened tree species like the pau rosa (Brazilian rosewood), provides jobs in forest management and monitoring, supports education in agro-forestry techniques to enable the community to grow cash crops, protects at risk animals like the Giant Anteater, Golden Parakeet and Ka’apor Capuchin Monkey and provides secured land tenure to villages committed to conservation.
In addition to Mahindra Racing’s Net Zero Carbon benchmark, it is also pleased to announce it has pledged to the UNFCCC Sports for Climate Action Framework alongside the FIA and Formula E. This initiative aims at supporting and guiding sports actors in achieving global climate change goals.
By committing to the framework, Mahindra Racing has pledged to five key principles; to undertake systematic efforts to promote greater environmental responsibility, to reduce overall climate impact, to educate for climate action, to promote sustainable and responsible consumption and to advocate for climate action through communication.
These new achievements add to the team’s previous sustainability endeavours including:
- Becoming the first Formula E team in history to receive Three-Star Accreditation– the highest accolade in the FIA’s framework.
- Committing to planting trees in the Araku Valley region of India thanks to its Season 6 tree planting campaign. Mahindra Racing’s efforts are in tandem with Mahindra Group’s commitment which has a commitment to plant 1 million trees every year
- Partnering with One All Sports as its team kit supplier; a natural choice due to their shared vision and dedication to the use of sustainable materials, applications and processes.
“We believe that ‘doing good’ goes beyond philanthropy and CSR, it is more than just random acts of kindness. ‘Doing good’ is a purpose, an attitude, and a way of life; it is our guide for conducting business and ourselves. As a team that is committed to finding credible, advanced and next generation mobility solutions while being kind to the planet. At Mahindra Racing, we pledge to greater ROCE, which, for us, stands for Return On Climate and Environment. This is ingrained into our ethos and a big part of the reason we are racing in Formula E. We have been on this path of reducing our impact on the planet since our birth in 2014 and six years later we are carbon neutral since inception. We are also certified with Three-Star Excellence in sustainability. To this end, our efforts are and will continue to be, in tandem with Mahindra Group’s commitment and quest to achieve group-wide carbon neutrality. We look forward to kickstarting season 7 with ROCE as our guiding principle, towards setting innovative, competitive yet sustainable mobility benchmarks for the world.”
Dilbagh Gill, CEO and Team Principal.
“It is a great achievement for Mahindra Racing to become certified net zero carbon since inception. Mahindra Racing has become a leader in sustainability across the sporting landscape and promotes sustainable business practices across their supply chain. As the first Formula E team to attain FIA Three-star Environmental Accreditation and the most recent team to sign the UNFCCC Sports for Climate Action Framework, they are the perfect partners in the fight against climate change. The first manufacturer to join the Formula E grid and now the first to commit to Gen3, we’re delighted to have a long and ongoing relationship with another organisation so aligned to our vision and values.”
Jamie Reigle, CEO, Formula E.
“We are very proud and excited to be part of the Mahindra Racing sustainability team. Mahindra’s values and beliefs echoes our own. Sustainability or good management through Sustainable Development Goals are at the heart of Mahindra’s drive. It translates into these great achievements that we hope will inspire and lead to a virtuous competition among its pairs. Regardless, it sets great precedents that we aim to continue working and exceed whenever possible”.
Alexis Leroy, CEO, ALLCOT Group.