Jean-Baptiste Cottenceau
Director, Crowe Sustainable Metrics
Formula E, like any mechanical sport, aims to be at the cutting edge of technology. Competition ...
Optional eyebrow
Formula E, like any mechanical sport, aims to be at the cutting edge of technology. Competition is therefore a means of shaping the next electric vehicles. We expect increased energy efficiency, rapid recharging and battery re-employability. The carbon impact of a sporting event depends more on the travel of competitors and spectators. For example, some 2.1 million tonnes of CO2 was generated for the 2018 FIFA World Cup, with more than 70 percent linked to travel. We must also consider the mobility needs of our cities; because of environmental concerns, private cars are no longer a preferable solution to public transport, bicycles, carpooling, telecommuting, and so on. Technical innovations are not the only way to shift our models. Regarding competition, what about esports competitions generating impressive electricity consumption? Would a competition like the Shell Eco-marathon – one of the world’s leading student engineering competitions – present more of a real change in philosophy and therefore in model? Teams have a choice of energy types and need to innovate new ways to use the least amount of their chosen energy category. Finally, could the best contribution of Formula E be to make manufacturers and drivers drop fossil fuels, resources of an outdated age?
Director, Crowe Sustainable Metrics
Jean-Baptiste Cottenceau
Viewpoints from Crowe
Read more
The applicability of Formula E’s success in creating a culture of sustainability is universal. Whether ...
Senior Manager - Assurance and ESG Services, Crowe US
Daniela Arias
Optional eyebrow
Read more
Growing up as a member of Gen X, and someone who trained as an engineer, motor racing for me ...
COO, Crowe Spain
Luis Piacenza
Optional eyebrow
Read more
As we continue our pursuit to reduce our carbon footprint, sustainability will play an integral ...
CPA, CA Incorporated Partner, Crowe MacKay LLP
Conven Tang
Optional eyebrow
Senior Manager - Assurance and ESG Services, Crowe US
Daniela Arias
The applicability of Formula E’s success in creating a culture of sustainability is universal. Whether an organization is a UK-based cutting-edge car racing series that wants to lead through innovation and environmental stewardship, or a US-based financial institution aiming to manage organizational and portfolio risk, the course is broadly the same, though the approach may differ. Foresight, perceptiveness and the ability to manage positive and productive change are at the forefront and serve as differentiating factors in achieving success. Adopting a culture of sustainability speaks volumes about a company’s smart decision-making because it has become a global imperative. In the US, where the corporate sustainability dialogue is still in its infancy, some liken it to the advent of the digital revolution: it is coming, and it will touch and transform nearly every aspect of business, whether or not they plan and respond to it. In a world where change moves faster than the winning team at the Monaco E-Prix, it is wise to assume an organization’s key stakeholders won’t stay the same, or value the same things in the future. In responding to this global imperative, businesses must take great care to assess needs and consider what is material, both to the organization and stakeholders. The path to success will differ significantly based on industry, geography and company, but the broad steps remain the same. In embarking on this journey, a competent service provider and strategic partner will make a world of difference.
CPA, CA Incorporated Partner, Crowe MacKay LLP
Conven Tang
As we continue our pursuit to reduce our carbon footprint, sustainability will play an integral role. Formula E has shown that going green can still be profitable and, in some instances, be used to attract new talent, plus help strive for attaining higher goals. History has shown that many innovations in the automotive industry have come from motorsports. This will be no different with Formula E. We can expect technologies such as battery capacity, reduced battery size and faster charging time to be incorporated into future electric vehicles. Not only will the next generations of electric vehicles be environmentally friendly, but also operate more efficiently.
COO, Crowe Spain
Luis Piacenza
Growing up as a member of Gen X, and someone who trained as an engineer, motor racing for me was about men on the Formula One podium, spraying champagne and surrounded by models. It was an image of ultimate triumph, grouping tog ether burning fossil fuels with gender stereotypes. Times have certainly changed – for the better.
The success of Formula E is yet another sign that the chequered flag has waved for the old ways of thinking, certainly from an environmental perspective. Its
value proposition encompasses an encouraging global outlook: low carbon, gamification, and multiple-
platform communications. Most importantly, it speeds into a new direction of respect. I am not sure if mobility will be fully electric, hydrogen-based or mixed with some fossil fuels. However, technology evolution goes beyond the physical aspect of things. The clear trend is that priorities have changed, and the market is validating the attributes of everything we buy. When I started working in sustainability, a CEO warned: “That is a fashion trend; let’s wait.” I thought: “OK, baby boomer.” Decarbonisation is without doubt an exciting feature of Formula E, and favorable comparisons with F1 are obvious. The beauty of this is the intentionally disruptive design, the point where design thinking
meets sustainability, furnishing a clear signal to invest. Also, it might be the confirmation that a new generation with renewed values is reshaping the world we knew
Read more
