UAE brokerage helps Lotus F1 Team target carbon neutrality
Advanced Global Trading, a “carbon credit” brokerage group based in Dubai, will help the Lotus Formula 1 Team minimise its carbon footprint and reduce emissions as it targets carbon neutrality in 2012. For those not aware, carbon credits are sort of like payments made by the so-called ‘polluter’ for charitable ‘green’ activities that improve the environment, effectively cancelling out any damage done by them. Other notable payees include SUV-maker Land Rover and the TV show 24.
The F1 team, which has its headquarters in Oxfordshire, UK has partnered with AGT help achieve its environmental plans and Corporate Social Responsibility goals in exchange for AGT’s branding on this season’s competition car, the E20.
Meanwhile at the Bahrain Grand Prix held on April 22, Kimi Raikkonen manoeuvreed his way up from an 11th place start to finish second, and Romain Grosjean finished behind him in third place. Beleaguered carmaker Lotus, which recently halted and then restarted production following a funding issue with its Malaysian owners, isn’t directly involved with the F1 team, but rather lending its name to Renault-engined racecars.