Japanese Nissan Formula E Team has partnered with UAE based Coral, registered as Carbon One in Dubai UAE to offset carbon emissions using blockchain technology for the upcoming 2023-2024 ABB FIA Formula E World Championship.

The partnership will bring transparency and verification to carbon credit markets.

UAE based Blockchain enabled Coral offers full transparency in the carbon market, by ensuring trust, veracity, and empowers individuals and organizations to take climate action responsibly. Together, we can make a difference.

According to the press release, the relationship with Coral is the next step in Nissan Formula E Team’s pledge to reducing its carbon emissions, following its award of the FIA 3 Star Environmental Accreditation in 2022. While the auto manufacturer is pioneering electric mobility, it is also scrutinizing its environmental impact and looking to accelerate improvements in green technologies in the motorsport world.

To reinforce its commitment, Nissan Formula E Team and Coral will use a Greenhouse Gas Protocol and Science Based Standards framework to accurately assess the carbon footprint of the racing team and will implement a robust credit scheme, providing full transparency on the squad’s carbon offset.

The goal for the partnership is to combine Nissan Formula E’s vast reach with Coral’s transparent and efficient platform, in order to increase awareness of the impact of carbon credits, directly contributing to global decarbonization and a cleaner future.

Tommaso Volpe, managing director and team principal, Nissan Formula E Team: “For both Nissan and Nissan Formula E Team, sustainability is of vital importance. We have recently renewed our FIA 3 Star Environmental Accreditation and are always looking for the next step to reduce our emissions. That’s why we are delighted to team up with Coral. When it came to choosing a partner to achieve our carbon neutrality goal, we wanted to make sure the trackability of our carbon offset is as accurate as possible. Coral’s CO2 offset is met through the most advanced innovation and is achieved in a bulletproof way. We’re looking forward to developing our relationship with Coral and working together for a greener future.”

Daniele Sileri, Founder and Head of Strategy, Coral: “We welcome the partnership and participation from Nissan Formula E Team,. This is an example to individuals and corporations that everyone should be able to take meaningful action in tackling climate change.”