London Marathon signs landmark carbon removal deal

• The London Marathon (LME), the first buyer of carbon-clearing sporting events, has completed its third portfolio purchase from market maker CUR8
• The purchase volume this time was 1,935 tons, and the total purchase volume reached 2,938 tons.
• CUR8 is the leading carbon removal science, procurement and management platform, bringing together the world’s leading scientists and climate software to help global companies such as Coca-Cola HBC, ARUP and British Airways de-risk their net zero strategies.

The London Marathon (LME), the world’s leading organizer of mass participation events and the first buyer of carbon-removing sporting events, has signed a third agreement with CUR8. The LME will purchase 1,935 tonnes of carbon removals from the global carbon removals market maker to support its progress towards net zero emissions.

In 2022, the LME became the first sports organization to invest in carbon removal, investing its mandatory £26 levy on international players into carbon removal rather than offsets. The tax is introduced in 2021.

This latest agreement will remove 1,935 tonnes of carbon dioxide from the atmosphere and confirms the LME’s commitment to climate action.

Carbon removal credits represent 1 ton of carbon dioxide removed from the atmosphere that can be physically stored for hundreds to thousands of years. Unlike carbon offsets, which are used to avoid emissions or protect natural carbon sinks such as forests, carbon removal is a new asset class widely considered by scientists to be as critical to halting climate change as deep decarbonization.

CUR8 will manage the LME’s diverse removal credit portfolio, which includes six leading global projects ranging from 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; global direct air capture (DAC) leader 1PointFive will have the world’s first megaton scale plant. In addition to this, they will use CUR8’s proprietary credit management platform to ensure their portfolio meets the London Marathon’s sustainability goals.

The LME has set an ambitious target to achieve net zero emissions by the end of 2030 and continues to roll out initiatives to reduce its carbon footprint while maintaining a world-class event experience for the 200,000 people who attend its many events each year. These initiatives include:

• Reduce diesel use by using electric vehicles and switching to hydrogenated vegetable oil (HVO) for generators
• Give participants the option to plant a tree rather than receive a finisher T-shirt
• Trial technology enables participants to choose the most energy-efficient way of traveling to events
• Encourage suppliers and partners to take significant actions to reduce emissions

Hugh Brasher, chief executive of the London Marathon” 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’s great to see more major sporting event organizers now investing in carbon removal as part of their journey to net zero through CUR8. “

Marta Krupinska, CEO of CUR8” said: “We are in a race against time to stop climate change and we all have a part in it. This agreement, which will directly involve hundreds of thousands of people in this fight, reflects this. The London Marathon has consistently demonstrated dedication, commitment and innovation, helping to expand the multi-trillion dollar carbon removal market and setting an example for global sports organizations through its long-term commitment to carbon removal. Its events attract millions of spectators from around the world, and a growing number of participants want to continue to enjoy great events while minimizing their impact on the climate. The LME is making this possible. “

The LME will celebrate the 45th London Marathon in 2025, organizing the world’s leading mass participation events including the TCS London Marathon, Serpentine Swim, Big Half, Vibrant Westminster Mile and Vibrant London 10,000m.

It is the first sports organization in the world to purchase a portfolio of carbon removal products and one of the first companies in the world to integrate carbon removal into its business model.

The 2023 TCS London Marathon, the UK’s first major mass participation event and the largest running event in the world, has been awarded a Gold Medal by the Council for Responsible Sport in recognition of its environmental and social impact initiatives.