Formula E has unveiled its Better Futures Fund, a charitable support programme aimed at directly supporting charities and local causes in all cities where it races.
The Fund focuses on initiatives delivering environmental and social impact aligned to Formula E’s purpose and sustainability strategy, and will also play a key role in the series’ social impact strategy – Formula Equity.
It was shared that the social impact strategy, which tackles social inequalities, is geared towards nurturing resilient and diverse communities where races occur.
For Season 10, the Fund will focus on:
- Supporting underrepresented communities in race locations,
- Environmental protection, prioritising nature and air quality in urban environments,
- Community engagement and their transition to living more sustainable lifestyles.
Formula E shared that for the remainder of Season 10, a fund of $100,000 will be split across the four race locations of Berlin, Shanghai, Portland and London, with local charities receiving up to $25,000 for their respective causes.
Meanwhile, in Season 11, the charitable support programme will support separate charities in all race locations worldwide.
Jeff Dodds, CEO of Formula E, commented: “Formula E leads the world in sustainability initiatives, yet as a competitive sport we always want to do more. The Formula E Better Futures Fund will give us total control in the supporting charities and communities in the markets we bring our sport aiming to leave a deeper, lasting and more targeted impact. This will enable us to have greater ownership and flexibility on helping those most in need and towards a more sustainable and equitable future.”
Julia Pallé, VP of Sustainability at Formula E, added: “With a mission to accelerate sustainable human progress through electric racing, our new Better Futures Fund elevates our ongoing purpose to the next level. Directly aligned to our wider sustainability strategy and Formula Equity that focuses on social impact, we’re taking a more direct approach to target specific causes and communities more closely aligned to our overall vision. This will enable us to have greater ownership and flexibility on helping those most in need and towards a more sustainable and equitable future.”
