We’re in a race against time to stop climate change, and all of us are involved. This deal, which will directly engage hundreds of thousands of people in that fight, reflects that.— Marta Krupinska, CEO of CUR8
LONDON, UNITED KINGDOM, December 10, 2024 /
EINPresswire.com/ --
London Marathon Events (LME), the world’s leading mass-participation events organiser and the first-ever sports buyer of carbon removals, has signed its third deal with
CUR8. LME will purchase 1,935 tonnes of carbon removals from the global carbon removals market maker to support its progress to net zero.
In 2022, LME became the first sporting organisation to invest in carbon removal by investing its mandatory £26 levy for international participants into carbon removal, rather than offsetting. The levy was introduced in 2021.
This latest deal, which will remove 1,935 tonnes of CO2 from the atmosphere, affirms LME’s commitment to climate action.
A carbon removal credit represents 1 tonne of CO₂ removed from the atmosphere which is physically stored for hundreds to thousands of years. Unlike carbon offsets which pay for the avoidance of emissions or protection of natural carbon sinks (e.g. forests), carbon removal is a new asset class that is universally recognised by scientists to be critical, alongside deep decarbonisation, to stopping climate change.
CUR8 will manage a diverse portfolio of removal credits for LME that consists of six leading global projects across the spectrum of nature-based to human-engineered, such as: Carboneers, an Indian biochar initiative with strong social and community co-benefits; InPlanet, an innovative Brazilian Enhanced Rock weathering project; and 1PointFive, a global direct air capture (DAC) leader set to have the world’s first plant capable of reaching megatonne scale. Alongside this, they will use CUR8's proprietary Credit Management Platform to ensure that their portfolio delivers on London Marathon Events' sustainability goals.
LME has set the ambitious target of reaching net zero by the end of 2030, and continues to launch initiatives to reduce its carbon footprint while maintaining a world-class event experience for the 200,000 people who take part in its many events each year. These initiatives include:
- Cutting diesel fuel use by using electric vehicles and switching to Hydrotreated Vegetable Oil (HVO) for generators
- Giving participants the option to plant a tree rather than receive a finisher t-shirt
- Trialling technology to enable participants to choose the most carbon-efficient travel to events
- Encouraging suppliers and partners to take significant action to cut emissions
Hugh Brasher, CEO of London Marathon Events, said: “Our vision is to drive positive change in environmental sustainability through our own actions and inspire our stakeholders and partners to do the same. We all need to take action now and it is good to see many more major sports events organisers now investing in carbon removal through CUR8 as part of the journey to net zero.”
Marta Krupinska, CEO of CUR8, said: “We’re in a race against time to stop climate change, and all of us are involved. This deal, which will directly engage hundreds of thousands of people in that fight, reflects that. London Marathon Events has consistently shown dedication, commitment and innovation, helping to scale a carbon removals market set to be worth a trillion dollars and setting an example for sports organisations worldwide through its long-term commitment to removals. Its events attract millions of spectators from all over the world and a fast-growing number of participants want to continue to enjoy great events while minimising their climate impact. LME is making this possible.”
LME, which celebrates the 45th edition of the London Marathon in 2025, organises world-leading mass-participation events including the TCS London Marathon, Swim Serpentine, The Big Half, Vitality Westminster Mile and Vitality London 10,000.
It was the first sporting organisation worldwide to buy a carbon removals portfolio, and was one of the first companies worldwide to integrate carbon removals into its business model.
The 2023 TCS London Marathon was the first major UK mass participation event and the largest running event in the world to be awarded Gold certification by the Council for Responsible Sport in recognition of environmental and social impact initiatives.
Victoria Pearson
Sonder London
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