- The world's largest oil producer, Saudi Aramco is gearing up to assist the automotive industry achieve their sustainibilty efforts through the use of clean fuel. Most recently, they have partnered up with Formula Motorsport, to steer the use of sustainable fuels in the Formula 2 and Formula 3 motor racing championships from 2023.
- The move comes off the back of Federation Internationale de l'Automobile (FIA) World Motor Sport Council’s 2030 sustainability goal and regulatory requirement. FIA oversees motor racing events and intends to power all its racing championships with 100% sustainable fuels by 2026.
- At the same time, down in Korea, Aramco has partnered with Hyundai Motor Group to develop combustion engines that will lower emissions in cars. This is an interesting twist, given that fuel and vehicle manufacturing companies are joining hands to combat sustainability causes.
Why it matters
Industries are getting serious about tackling the threat of global warming, and this is not limited to the automotive industry. The International Renewable Energy Agency has set up an alliance of 14 companies to assist in global decarbonization efforts. The companies include some big names like Abu Dhabi’s Taqa and Italy’s Enel Green Power.
