Formula 1: Race for Sustainable Air Transport
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2022-08
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Abstract
This study assesses net zero CO2e technologies for air transport to determine which is the most cost-effective for use by Formula 1 by 2030. I examine four potential net zero technologies: voluntary carbon offsetting (VCO), sustainable aviation fuels (SAFs), electric aircraft, and hydrogen-powered aircraft. My analysis presents the feasibility, availability, economic risk, approval, and net zero potential of each technology and is based on a survey of academic, government, and industry literature. I found that VCOs and SAFs are technologically feasible and sufficiently available while electric aircraft and hydrogen-powered aircraft are not. The economic analysis reveals that purchasing VCOs is the most cost-effective option to reach net zero. However, Formula 1 has decided to employ SAFs instead of VCOs despite the higher costs, this is likely due to the value of the positive reputation gained from the use of SAFs relative to of VCOs.
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Grenon, S. (2022). Formula 1: Race for Sustainable Air Transport (Unpublished master's project). University of Calgary, Calgary, AB.