Banco Santander is part of the recent history of Formula 1. First, it was in the category as sponsor of Fernando Alonso at Ferrari, then it spent a few seasons away and later returned to continue being a sponsor of the Italians, this time without the presence of the Spanish driver in the team.
Since then it has remained present in the Scuderia Ferrari single-seater. However, its involvement goes far beyond working with the tifosi. He recently signed a collaboration agreement with the Formula 1 organization to promote and develop sustainable initiatives in the automotive sector.
The work plan will cover three years and will look into various areas such as mobility, logistics, transportation and alternatives to offset carbon emissions. During the first year, the Santander X Global Challenge | Countdown to Zero will be launched. There, F1 will be part of the jury to evaluate the most outstanding projects.
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This challenge will be divided into three categories for those interested in submitting their projects: On Track, On the Move and Balance to Zero. On Track will consist of proposals related to the future of sustainable mobility; On the Move will address environmental sustainability and transportation logistics, while Zero Balance will consist of alternatives that offset the carbon footprint.
“Santander X is helping thousands of entrepreneurs take their ideas further and faster,” said Juan Manuel Cendoya, Communications, Corporate Marketing and Research Director at Grupo Santander. “This agreement takes that support to a new level, creating opportunities for companies to join forces with one of the world’s most innovative sports and support the transition to a low-carbon economy. We are delighted with this program and wish all the entrepreneurs every success,” he continued.
The partnership with the bank will enable Formula 1 to expand its repertoire of programs with respect to the category’s goals of becoming zero net CO2 emissions by 2030. This new project is in addition to plans to introduce 100% sustainable fuel by 2026, as well as work on reducing the footprint generated by race-to-race logistics.
Written by | Ronald Ortega