FORMULA E BECOMES FIRST GLOBAL SPORTS ORGANISATION TO ALIGN TO INTERNATIONAL STANDARD ON CONTRIBUTING TO CARBON NEUTRALITY

(MENAFN- Mid-East.Info) Formula E becomes first global sports organisation to align to PAS 2060 the only internationally recognised certification for contributing to carbon neutrality · World's first net zero sport since inception builds on its global-leading commitments and progress towards a carbon neutral world · The standard ensures accountable, accurate, credible and certified emissions reduction · Formula E has already reduced emissions by 24% against its Season 5 baseline London, Dubai, Riyadh: Formula E today announced its alignment to PAS 2060 – the only internationally recognised certification for contributing to carbon neutrality – to maintain its industry-leading sustainability credentials and Net Zero since Day Zero* status. Formula E is already the first sport in the world to be certified with a Net Zero Carbon* footprint since inception and to join the Science Based Targets initiative, committing to reducing the championship's emissions by 45% by 2030 (based on a Season 5 [2019] baseline). Formula E has already achieved a 24% reduction in absolute Scope 1, 2 and 3 emissions despite continuing to grow and hosting a record number of races. The PAS 2060 standard, published by the British Standards Institution (BSI), allows organisations to demonstrate that their carbon neutrality claims are both credible and verified to increase accountability and consumer confidence. The international standard provides guidance on how to quantify, reduce and offset greenhouse gas (GHG) emissions on business-related areas as advised by the United Nations' (UN) carbon reduction framework. This can include emission reduction efforts related to activities, products, services, buildings, projects, and events. Whilst companies can calculate their footprints, purchase credits and claim carbon neutrality, the PAS 2060 standard provides a framework for enhanced accuracy and certification. A robust and thorough standard is increasingly important as companies and governments work towards a net-zero world by 2050. Julia Pallé, Director of Sustainability, Formula E, said:“Through aligning to the internationally recognised standard on carbon neutrality, PAS 2060, Formula E is reinforcing its leading position across global elite sport and sustainability. As an organisation we have consistently held ourselves to the highest of standards when measuring, reducing and offsetting our emissions and this new standard reaffirms that commitment. It ensures that as we continue to grow our championship, we can also ensure that the reduction of our emissions of 45% by 2030 is sustainable, accurate and certified to the highest degree.” A link to Formula E's PAS 2060 report can be found here on the Formula E website . *In line with 2020 definition of the United Nations Climate Neutral Now initiative

The main benefits of the PAS 2060 standard are: . It is the only internationally recognised certification for contributing to carbon neutrality. . It guides companies to quantify their carbon footprint and supports subsequent emissions reduction with a 12-month review. . The inclusion of offsetting using certified credits encourages the support of climate finance projects that add both social and environmental value. . It enables companies to demonstrate a voluntary and ambitious commitment to climate action.

About Formula E and the ABB FIA Formula E World Championship:

As the world's first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world's most iconic cities providing an elite motorsport platform for the world's leading automotive manufacturers to accelerate electric vehicle innovation.

The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and planet.

About ABB:

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB's ~105,000 employees are committed to driving innovations that accelerate industrial transformation.

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