McLaren buys carbon credits in quest for net zero

SAO PAULO/LONDON, Nov 30 (Reuters) – McLaren Racing has agreed to purchase carbon credits from reforestation projects in Brazil’s Amazon rainforest and CO2 removal initiatives in Britain and the U.S. as part of its bid to achieve net zero emissions by 2040, the team said on Thursday.
McLaren competes in Formula One and the IndyCar Series, with emissions coming – in addition to motor racing itself – from activities such as air travel, with Formula One set to race 24 times in 22 different countries next year.

World Bank to issue bond to boost Amazon reforestation

SAO PAULO, June 13 (Reuters) – The World Bank said on Tuesday it will issue a new bond expected to raise some $200 million to support its sustainability activities and reforestation in Brazil’s Amazon, and has chosen HSBC (HSBA.L), opens new tab to structure the transaction.

The principal-protected bond will support the World Bank’s sustainable development activities and provide financing for reforestation projects selected by Brazilian startup Mombak through the foregone coupon payments.