Singapore Airlines (SIA) has not only extended its sponsorship deal with Formula 1’s (F1) Singapore Grand Prix, it is also staying true to its partner F1’s commitment to be net-zero carbon by 2030 as part of its wider sustainability strategy.
“Last year, we marked a major milestone in our sustainability journey when we announced our commitment to achieve net zero carbon emissions by 2050. This requires multiple levers including investments in new aircraft, higher operational efficiency, adopting sustainable aviation fuels, and sourcing for high quality carbon offsets,” a spokesperson for Singapore’s national airlines says in an email reply to TheHomeGround Asia.
“We also support the International Air Transport Association’s (IATA) climate goals and have adopted a four-pillar strategy to reduce our carbon footprint: improved technology, operational measures, improved infrastructure, and global market-based measures,” she adds.
SIA announced its extension as the title sponsor of the race for three additional years in May, four months after F1 renewed its agreement with Singapore GP (SGP) and the Singapore Tourism Board (STB). The multi-year renewal contract lengthened the hosting of F1’s iconic night race in the Marina Bay Street Circuit of Singapore for another seven years from 2022 to 2028.
F1’s push to hit net-zero carbon by 2030 target
Through this partnership, both SGP and STB will be working with the racing league to decrease the carbon footprint of the event held in the city state and this would include the use of sustainable materials to cut down carbon emissions and increased recycling attempts to meet the sustainability goals of F1. SGP will also conduct an audit that would guide the advancement of green initiatives and encourage and engage the community for the same.
F1 announced in 2019 that it is committed to be net-zero carbon by 2030 as part of its wider sustainability strategy, and setting ambitious targets from “factory to flag” with key members of its sporting community contributing to the carbon reduction goals.
F1 is even developing a 100 per cent sustainable fuel, which will be used to power the next-generation hybrid engines in F1 from 2026. The fuel is already in development with support from key stakeholders within F1 including the FIA, Aramco – an F1 Global Partner, fuel providers in the sport, the F1 teams and manufacturers. The new fuel has been designed with a “drop-in” feature to help accelerate adoption and reduce costs for use in existing road cars, both internal combustion engines and hybrids.
SIA’s strategy to go green as F1 title sponsor, to hit zero-carbon by 2050
In its bid to achieve net zero carbon emissions by 2050 to build a better, greener, world for future generations, SIA is consciously operating a young fleet of new generation aircraft, the primary lever for airlines to immediately reduce their carbon emissions today.
The Group has one of the youngest fleets in the world with an average age of around six years and three months. The global average is 15 years.
“We have made significant investments in newer aircraft models such as Boeing’s 787 Family and 737-8, and Airbus’ A350-900 and A320 Family, which are on average around 25 per cent more fuel efficient than the older aircraft that they are replacing. By operating a young fleet of aircraft, the Group continuously and significantly reduces its carbon emissions,” SIA spokesperson says.
This strategy will continue in the future as the Group takes delivery of new generation aircraft in its order book. For instance, the A350Fs, which SIA ordered, will burn 40 per cent less fuel compared to Boeing 747-400F freighters on similar missions, reducing emissions by around 400,000 tonnes annually.
Seeing sustainable fuels as a key lever to achieve its long-term decarbonisation goals, SIA started on the sustainable aviation fuel (SAF) pilot initiative, and in partnership with the Civil Aviation Authority of Singapore (CAAS), Temasek, Changi Airport Group (CAG), and other stakeholders, SIA will operationalise the deployment of SAF in Singapore.
Apart from fuel saving, SIA uses lighter, renewable paper for the packaging of its regional economy class meals to lower fuel burn, and also reduces the amount of single-use plastics on the meal tray. Meal waste is processed into refuse-derived fuel pellets at an eco-digester.
“These reflect our belief that sustainability initiatives must focus on making a real difference,” its spokesperson says.
Nothing ventured, nothing gained: F1 Singapore Grand Prix set to see biggest turnout since 2008 debut
With the much-anticipated 2022 F1 season finally kicking off after being absent from Singapore for two years, it is no wonder rooms at hotels in Marina Bay are sold out, leaving fans with the most expensive rooms or none at all.
Country general manager of The Fullerton Hotels and Resorts Gino Tan told Today the group had seen a strong pace of bookings for the F1 period this year, exceeding that received in 2019., adding that the occupancies at The Fullerton Hotel Singapore and The Fullerton Bay Hotel Singapore are now at peak levels.
And hotels, such as The Ritz-Carlton, that have views of the night race, were all fully booked for this weekend. MN are no longer listing available rooms over the race weekend on their websites.
Even the restaurants and bars, especially those nearest the F1 venue, can expect to reap dividends from burgeoning demand during race week.
Since its debut in 2008, the Singapore F1 race has generated more than S$1.5 billion in incremental tourism receipts, and attracted more than 550,000 unique international visitors.
With this year’s event signalling to the world that Singapore has bounced back strongly from the pandemic, it looks like it will be generating more in both incremental tourism receipts and international visitors.
RELATED: Should Singapore Host International Sporting Events During the Pandemic?
Join the conversations on TheHomeGround Asia’s Facebook and Instagram, and get the latest updates via Telegram.