The Whole Weekend
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TheWholeWeekend

On 11 October, 22 cars raced 62 laps around Marina Bay and emitted about 4.3 tonnes of CO₂ between them. The weekend around them emitted far more: Greenly estimates about 34,500 t from spectators alone at an average F1 race. This briefing argues that the energy transition of motorsport is decided around the car, not in it. It tests the argument with five questions, one per sector, and each sector takes up the question the one before it leaves open: what is counted, what the cars and the grid run on, how the calendar moves freight, where capital is allocated and what a host city should demand at renewal. Each sector has an article and a game, and your scores add up to one lap time.

Five sectors, one lap time, 100 points.
Access GridPulse APAC
S1 MeasureWhat is each series counting?
S2 PowerWhat do the cars and the grid depend on?
S3 BuildHow much does the calendar set?
S4 FundWhere should capital go first?
S5 DriveWhat should a host city ask for?
Race feed · Singapore GP · 11 Oct 2026Lap 0/62Field CO₂ 0.00 t estimate, even burn: 70 kg fuel at 3.1 kg CO₂ per kg
Sector 1 of 5 · Measure4 min read

Motorsport emissions, 2025: two reports, two boundaries

Every later number in this briefing depends on what was counted, so the argument starts with the boundary. The two series publish totals that do not compare directly, because each draws its boundary in a different place, and any comparison by a fan, a sponsor or a host city starts with where each one stops. The question for this sector is what each series counts, and what it leaves out.

Then · 2018228,793 tF1 baseline footprint
Now · 2025148,805 t35% below baseline, 24 events
Next · 2030Net zeroF1 target, with at least a 50% cut
Fans in a grandstand watching the Singapore Grand Prix at night, with Marina Bay Sands behind
Illustrative image, Marina Bay. The fans in this picture are outside one series' number and inside the other's.

Formula 1 reported 148,805 tCO₂e for 2025 across 24 events, 35% below its 2018 baseline of 228,793 t. S1 Travel was 39% (57,934 t), logistics 33% (48,400 t), factories and facilities 14% (20,923 t) and event operations 14% (21,548 t). The power units were under 1%. S1

The total is market-based and includes sustainable aviation fuel certificates, so part of the reduction is purchased rather than avoided at source. S1 That is a choice of method rather than a criticism. Every corporate inventory picks a basis, and the basis shapes the headline.

Formula E measures differently. It has run a life-cycle assessment with Quantis since its first season, and its Season 5 study counted freight (72%), staff travel (14%), spectators (6%), food (4%), operations (4%) and building the cars (1%), as published and rounded. S4 It reports emissions per race falling from 3,461 t in Season 5 to 2,112 t in 2022, a 39% fall that we calculate from those two figures. C1 It says it has been net zero from day one, certified in line with the UN Climate Neutral Now framework, which relies on offsets for the residual. Formula E publishes no absolute season total that we could find, so its per-race figures cannot be set directly against F1's annual total.

Set side by side, the two reports cut against a common assumption. In our view, the series with the cleaner reputation draws the wider boundary: it counts its fans and the manufacture of its cars. The series with the bigger number draws the narrower one: F1's categories have no line for the people who fly in. Greenly estimates fans' travel, stays and food at 827,128 t a year, about 34,500 t per race across 24 races. C2 Greenly's total of 875,767 t is around five times F1's reported 2024 total of 168,720 t, and Greenly calls its method conservative and directional. That estimate sits in neither series' published number.

F1's footprint by category, then, now and next

tCO₂e. 2030 bar shows the ceiling implied by a 50% cut from 2018.
Sources: Formula 1 ESG Report 2026 (2018 and 2025) and the Formula 1 net zero 2030 commitment.
Formula 1

Absolute total, market-based, category split, SAF certificates included. No spectator line.

Formula E

Life-cycle per race, spectators and car build included. No absolute season total found. Net zero claimed via offsets.

Invuca read

A transition is measured against a baseline, and the baseline depends on where the boundary is drawn. For an investor, sponsor or host city, the first question about any emissions number is what it was drawn around, before how big it is.

Next: sort ten sources of race-weekend emissions onto the series whose boundary counts them. Once the boundary is fixed, the next question is what the cars and the grid behind them depend on.

Sector 2 of 5 · Power5 min read

Race cars, 2026: energy, materials and supply

Sector 1 showed that the boundary decides the number. Whatever boundary is drawn, the cars and the events run on energy and materials that someone has to source. Electrification removes a fuel-price exposure and adds a mineral-supply one, so the risk has moved rather than disappeared. The question for this sector is where that risk sits for each series, and how quickly it arrives.

Then · 2023$139/kWhAverage battery pack price
Now · 2025$108/kWhDown 8% from 2024
Next · 2026~$99/kWhInvuca extrapolation, range $95 to $101 C9
Technicians lowering a battery pack into an electric race car in a Marina Bay garage, with fuel drums and a fuel rig behind
Illustrative image, a battery pack going into an electric race car. The car is a small part of the weekend's carbon and its supply chain is concentrated.

Cell prices are falling. BloombergNEF's average pack price fell to $108/kWh in 2025, down 8%, while stationary storage fell 45% to $70/kWh. China averaged $84/kWh, with North America 44% and Europe 56% above it. S7 Our extrapolation of the trend gives about $99/kWh for 2026, within a range of $95 to $101. C9

The supply behind them is getting more concentrated at the same time. The IEA finds China is the leading refiner for 19 of 20 strategic minerals, with an average share around 70%. The top three producers' share of key energy minerals rose from 82% in 2020 to 86% in 2024, and 55% of energy-related strategic minerals now face some form of export control. S8 Price risk is falling while access risk is rising.

Both cars depend on that supply, in different ways. F1's 2026 car is lighter, at a 768 kg minimum against 800 kg, and closer to an even hybrid split than ever: about 400 kW from the combustion engine and 350 kW from the electric motor-generator, up from 120 kW. It can recover more than double the previous 4 MJ per lap, and runs on advanced sustainable fuel. S5

Formula E's Gen4, due for Season 13, will weigh 954 kg without the driver and carry 55 kWh of race energy in a pack from Podium Advanced Technologies. It will make 450 kW in race trim and 600 kW in attack mode, and can regenerate up to 700 kW, recovering over 40% of a race's energy. The bodywork will use at least 20% recycled carbon fibre and bio-based composites, and the chassis will be 100% recyclable or reusable. S6

Put the two energy systems on one scale. Eight megajoules a lap is about 2.2 kWh, so the Formula E car's 55 kWh of race energy is up to roughly 25 times what the F1 car harvests in a lap. C3 The F1 car's risk sits mainly in its fuel and the Formula E car's in its cells.

Fuel and power prices have also risen. Brent averaged about $91 a barrel in August and $114 in September 2026, with a daily peak of $131 on 15 September, and the US EIA expects $84 for 2027. S11 C4 The August figure is derived: EIA reports September was $23 a barrel higher than August. Asian LNG spot prices reportedly rose more than 140% after the March strike on Ras Laffan. Singapore, which returns in Sector 4 as the capital case, generates about 94% of its electricity from natural gas, and its regulated tariffs are reset each quarter on gas prices from the months before. S12

The timing of the exposure differs between the two series. An F1 team feels an oil shock at the next fuel invoice and the next charter flight. A Formula E round in Singapore would feel the same shock a quarter later, through the tariff. Spot buying, fixed contracts and second sources are the ways a team chooses which price schedule it is exposed to.

Battery pack prices: falling, and unevenly

US$ per kWh, volume-weighted averages, real terms as published each year.
Source: BloombergNEF Lithium-Ion Battery Price Surveys 2023, 2024 and 2025. They show a 6% fall from 2024 to 2025 ($115 to $108). The bars use each year's published average. BNEF's like-for-like fall is 8%. The 2026 bar is an Invuca extrapolation, not a BNEF figure (C9).
Formula 1

Exposure sits in fuel feedstock, charter freight, magnets for a 350 kW motor and carbon composites. Small battery. Feels an oil shock at the next invoice.

Formula E

Exposure sits in a 55 kWh pack: cells, anode graphite, cathode metals, plus magnets and composites. Feels a gas shock through the tariff, a quarter later.

Invuca read

A procurement team that watches only the price chart is missing the larger risk. For electrified fleets, the material question has shifted from what a pack will cost to who can restrict its supply. For energy, the question is which price schedule you are on.

Next: you are team principal. Your supply-chain manager brings four sourcing calls, and every call splits the season. With supply and price exposure set, the next question is how much of the footprint the calendar decides.

Sector 3 of 5 · Build4 min read

Race calendars, 2026: two series, two re-routings, one map

Sector 2 showed that supply and price exposure sit largely outside a series' control. Freight is different, because it follows directly from the calendar: it is the largest single category for Formula E, the second largest for F1, and it is set on the day the calendar is signed. The question for this sector is how much of each footprint the calendar decides, and how much of that could change while keeping every race.

Then · 202548,400 tF1 logistics, 24 events
Now · 202623 roundsSaudi Arabia cancelled, Sepang added
Next · 2030>50% off airF1’s aim for broadcast freight
Race freight being loaded into a cargo aircraft at Changi at nightContainer ship in the Singapore Strait at sunset, with the city skyline behind
Illustrative images, Changi and the Singapore Strait. A flyaway leg by air, and the slower route F1 wants more of its kit to take.

F1's logistics were 48,400 t in 2025, a third of its footprint and about 2,017 t per event. S1 C5 In March 2026 the Bahrain and Saudi Arabian rounds were cancelled because of the conflict in the Middle East. Saudi Arabia was not replaced. Sepang hosted the Gulf Air Bahrain Grand Prix on 4 October, leaving 23 rounds and a five-week gap between Japan (29 March) and Miami (3 May). S9

F1 has started moving freight from air to sea and regional hubs. It made its first investment in sustainable maritime fuel in 2025 and aims to take more than half of its broadcast and related freight off planes by 2030. S4

Formula E's 2025/26 season ran 17 races in 11 cities, in regional swings: the Americas from December to January, Jeddah in February, Europe in spring, China and Japan in summer, and a London finale in August. S10 It credits calendar design and biofuels with a 41% cut in freight against Season 5.

Our route model is an illustrative scenario, not a finding about real contracts. Using great-circle legs, trucking inside a continent and flights elsewhere, scaled to F1's logistics total, it suggests that F1's 2026 order could carry about 58% less freight carbon while still keeping every venue in a workable weather window. Formula E's calendar is already clustered and could save about 29%. C6 The remaining gap comes from host contracts, national holidays and a few dates that will not move, not from weak logistics.

Kilometres flown and trucked per season

Actual order against the best order found that respects weather windows.
Source: Invuca route model on 2026 F1 and 2025/26 Formula E calendars. Distances are great-circle and the model is illustrative.
Formula 1

23 rounds worldwide. Logistics 33% of the footprint. Saudi round lost in 2026, Bahrain's name run at Sepang.

Formula E

11 cities in regional clusters. Freight down 41% from Season 5, as the series reports. Jeddah's Season 13 opener is under review.

Invuca read

A calendar fixes a season's emissions, cost and risk at the point it is signed. Clustering cuts freight and concentrates regional risk. In 2026 the Gulf disruption reached both series: F1 lost its Bahrain and Saudi Arabian rounds and Formula E's Season 13 opener in Jeddah is under review.

Next: build the season yourself, then let the optimiser try. With freight in view, the next question is where capital should go to change the energy around the weekend.

Sector 4 of 5 · Fund5 min read

Host-city energy, 2026 to 2035: capital and a grid that runs on gas

Sector 3 showed that freight can be re-planned. Energy is slower to change, because the weekend draws on the host city's grid and roads, and capital decides how fast they change. A charger installed before the grid behind it changes still runs on gas, so the order in which capital is deployed is part of the investment case. The question for this sector is where capital should go first to change the energy around the weekend.

Then · 200019%Gas share of generation
Now · 2024~94%Gas share of generation
Next · 2035~1/3Target share of demand, from about 6 GW of low-carbon imports
Marina Bay financial district at blue hour, with the race circuit and grandstands in the foreground
Illustrative image, Marina Bay. The circuit runs through a financial centre whose power comes almost entirely from imported gas.

Singapore is the test case. Power generation is about 40% of its emissions, and gas's share of generation rose from 19% in 2000 to about 94% in 2024. Solar passed 2 GWp at the end of 2025 against a 3 GWp target for 2030, and the target for low-carbon electricity imports is about 6 GW by 2035, around a third of demand. S13

On the demand side, land transport is about 15% of national emissions. The targets are 60,000 charging points by 2030 (40,000 in public car parks, 20,000 private) and all vehicles on cleaner energy by 2040. S13 The carbon tax rose from S$5 a tonne (2019 to 2023) to S$25 (2024 to 2025) and S$45 (2026 to 2027), heading for S$50 to S$80 by 2030. S13

Each new charger connects a car to a grid emitting about 0.4 kg of CO₂ per kWh. It cuts tailpipe emissions on day one, but its carbon and its price stay tied to gas until generation, storage and imports change. So the capital question is about order and pairing, not picking a winning technology. Storage is now cheap enough to pair: stationary packs averaged $70/kWh in 2025. S7

For an allocator the useful view holds return and abatement together under the same scenarios. A portfolio that only works when gas is cheap and carbon costs S$45 a tonne is a bet on those conditions. That is how an investment committee reads it: the return against the hurdle, the worst case, then payback.

The returns, costs and risk premiums in the game are teaching values, not market prices or forecasts. They are set so that pairing and funding order change the result.

Singapore's carbon price path

S$ per tonne of CO₂e. 2030 shown as the announced range.
Source: National Climate Change Secretariat (NCCS), carbon tax and power sector pages.
Formula 1 in Singapore

Night race lighting and venue energy draw on the same 94% gas grid as everything else.

Formula E anywhere

Formula E reports that it ran all 2024/25 race locations on 100% renewable energy, using grid supply, HVO generators, solar and storage.

Invuca read

Charging is the visible part of the transition and, in our view, the weakest stand-alone return. It becomes investable when it sits on top of generation and storage that change what it costs and what it emits.

Next: choose a mandate for S$500 million, then decide which avenues to fund and in what order. The committee tests the paper three ways, decides, and scores it against the best paper. With the capital logic set, the last question is what a host city should ask for.

Sector 5 of 5 · Drive4 min read

The Singapore Grand Prix, 2026 to 2028: the host contract and its renewal

Sectors 1 to 4 give a host city a measurement basis, a supply picture, a calendar lever and a capital logic, and the host contract is where they become a negotiating position. Singapore does not have to choose between Formula 1 and Formula E, but it needs one measurement basis that applies to both, agreed before the contract is renewed. The question for this sector is what the city should ask for when the current contract ends in 2028.

Then · 20251,363 tSingapore GP patron zones
Now · 11 Oct 2026~4.3 tAll 22 cars, tailpipe
Next · 2028RenewalContract ends, with a target to halve energy emissions
Strategy engineers at a pit wall desk overlooking the Marina Bay circuit at night
Illustrative image, Marina Bay. The host contract prices the race, and the weekend around it is much larger.

The Singapore Grand Prix measures its own venue: 1,362.76 tCO₂e in its patron zones in 2025, from setup to teardown, with overall emissions down 42.54% and Scope 1 and 2 down 41.26% against a 26% target, verified by TÜV SÜD. It aims to halve energy emissions by 2028, when the current race contract ends. S14 S15

On 11 October 2026 the 22 cars emitted about 4.3 t between them, assuming each used F1's 70 kg fuel target over the laps it ran. C7 On the Greenly estimate, the spectator emissions of an average F1 race are about 34,500 t, around 25 times the venue's own figure. C10

The first four sectors give four findings. Measure: the two series draw different boundaries and neither counts the whole weekend. Power: both depend on supply and price schedules the host does not control. Build: the calendar sets the freight and can be re-planned. Fund: the order in which capital is spent decides how fast the host's own grid changes.

Formula E is not on Singapore's calendar, and on a 94% gas grid an E-Prix would test the grid more than the carbon accounting. The stronger renewal ask is measurement. One published, whole-weekend baseline, fans included, applied to any series the city hosts, would turn the next contract into something both a finance ministry and a sustainability office can price.

One weekend, four measurements

tCO₂e on a logarithmic scale.
Sources: Invuca calculation from timing data, Singapore GP sustainability report, F1 ESG Report 2026 and Greenly (827,128 t over 24 races, divided to give a per-race figure).
Invuca read

Host contracts price the race and leave the rest of the weekend unpriced. In our view the cheapest step a host city can take is one published measurement basis for the whole weekend, because every later decision is made against it.

Next: choose the heads of terms and sign the renewal memo. Your earlier sectors set what the committee cares about most. The three themes it rates, decarbonisation, resilience and investability, come from Sectors 3, 2 and 4.

Chequered flagYour lap of the whole weekend

Your results across the five sectors.

Finish the five sectors to set a lap time. Sectors you have not banked show as open.

Lap time
-:--.---
Out lap
Total score--out of 100
Emissions saved--play S3 to set it
Race clock--

How the lap is timed

Each sector starts from a reference of 15.7 to 15.9 s (set per sector) and adds 0.045 s for every point short of a perfect sector. The race clock then adds 1 s for every minute on it. The score colour is purple at 85% or more, green at 60% or more and amber below. The brief above is generated from your scores by a fixed template.

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The thesis

Most of the decisions are made away from the car.

Motorsport's transition is decided in five places: what is measured, what the cars and the grid depend on, how the calendar moves freight, where capital goes and what the host city demands. The car is the most visible part of the weekend and the smallest part of its emissions (4.3 t against about 34,500 t, S1 and C2).

Decision Labs

Decision Labs applies the same format to a client's own decisions.

Decision Labs is Invuca's simulator for energy and infrastructure teams: evidence first, then decisions under a budget and real constraints, scored against the best available answer. This page is a public sample.

Advisory

How the sectors map to advisory work.

Every sector here maps to advisory work Invuca does: emissions baselines, critical-mineral exposure, logistics design, energy hedging and transition capital sequencing in Singapore and ASEAN.

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This lap is a sample of Invuca's work: evidence first, then a decision under constraints. If the questions in these five sectors match those your team faces, tell us.

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SourcesMethods and limits

Sources, methods and limits.

Sourced figures carry an S reference and calculated figures a C reference. Where a figure is an estimate, a company's own claim, a secondary source or Invuca's own reading, the text says so in words. This page lists what each reference points to, how the games are built and where they stop.

Method and limits
  • S1 to S16 mark sourced figures and link to the document in the source list below. C1 to C10 mark calculated figures and link to the arithmetic in the calculations list below.
  • Route factors, weather windows, sourcing ledgers, portfolio cash flows and policy ratings are Invuca teaching values, not forecasts or advice.
  • The race replay reconstructs positions between timing lines from lap times. Tailpipe CO₂ per car is an estimate that assumes an even burn of F1's 70 kg fuel target over the laps run, at 3.1 kg CO₂ per kg. Images are AI-generated illustrations or original Invuca drawings, not photographs. Article images and Pit Lane Trivia pictures are labelled as illustrative, and the backdrop on the contact page is an AI-generated illustration too. Pit Lane Trivia facts name their source in the pop-up and are listed under Trivia sources.
  • The Sector 3 model prices each leg between two races by land, air or sea. Land applies only inside one continent (Europe, North America, the Gulf, and Malaysia to Singapore) and less than 3,000 km apart. A sea leg ships the heavy 60% of the kit and the rest still flies, so it emits 43% of the air figure per km. Sea speed (650 km a day), handling time (7 days), a six-day buffer, and the two kit sets that leapfrog so the ship has the days between two races are Invuca teaching values. Each calendar has its own finite tokens: F1 has 10 land, 12 sea and 7 air, and Formula E has 3 land, 9 sea and 3 air. Land is set below what an unlimited best route would use (13 and 4) and sea and air above what the best capped route needs (9 sea and 3 air for F1, 7 sea and 0 air for Formula E), so that choices are harder. The best routes shown in the game are exact for these tokens, searched offline. The tokens are Invuca teaching values, not contracts held by any team. For scale, DHL describes F1 sea freight as five or six identical sets of containers on long rotations, and a DHL Motorsports interview (Seatrade Maritime, October 2025) puts it at about six sets, so the sea allowance here is more generous than reality. Time in transit is a teaching estimate for each leg: air takes 2 days plus flight time at 800 km/h, land takes 1 day plus 700 km a day, and sea takes the transit time at 650 km a day plus 7 days of handling. The season total adds the legs and is shown for balance, not scored. Tonnes are scaled so that the published F1 order equals 48,400 t x 23/24, and the same factor is applied to Formula E (an assumption).
  • Where sources disagree we say so rather than choose silently. Conflicts noted: Gen4 weight (954 kg without driver in the FIA specification against 1,016 kg in an earlier version of this page), Gen4 regeneration (over 40% against about 40%), the Quantis category list (the published list does not sum to 100%, so shares are shown as published and rounded), the battery price fall (6% on the chart bars, 8% like-for-like in BNEF's report), Formula E's 2030 targets, and the Bahrain round (cancelled, with its name run at Sepang). Wikipedia is used only as a secondary source.
Calculations
  1. C1 39% fall in emissions per race: (3,461 t - 2,112 t) / 3,461 t = 39.0%. Inputs from S4.
  2. C2 Greenly fan estimate per race: 827,128 t / 24 races = 34,464 t, shown as about 34,500 t. Input from S3.
  3. C3 Formula E energy against F1 harvest: 8 MJ / 3.6 = 2.2 kWh per lap. 55 kWh / 2.2 kWh = 24.8, shown as up to roughly 25 times. Inputs from S5 and S6.
  4. C4 Brent in August 2026, about $91 a barrel: EIA's October 2026 outlook (S11) gives September at $114 and says that was $23 a barrel higher than August, so August is $114 - $23 = $91. Derived, and checked against the primary document. The $131 peak on 15 September and the $84 for 2027 are stated in the same document.
  5. C5 F1 logistics per event: 48,400 t / 24 events = 2,017 t. Input from S1.
  6. C6 Sector 3 calendar model: with trucking inside a continent and flights elsewhere, the best order saves 49.9% of km and 57.9% of carbon for F1 and 26.3% of km and 29.3% of carbon for Formula E against the published order. Where sea freight is also allowed and tokens are unlimited, the best plans save 65.7% (F1) and 69.0% (Formula E) of carbon. Model values are Invuca teaching values.
  7. C7 Carbon of the 22 cars on 11 October 2026: 70 kg fuel × 3.1 kg CO₂ per kg × laps run / 62, summed over the cars, using lap counts from S16. Estimate assuming an even burn. All 22 cars at full distance would be 4.77 t.
  8. C8 Shares quoted in Sector 1 feedback: F1 travel 39% + logistics 33% = 72% (S1). Formula E freight 72% + staff travel 14% = 86% (S4).
  9. C9 Battery pack price for 2026, about $99/kWh: three extrapolations of BNEF's average pack price in S7. Two-year trend 2023 to 2025: $108 x (108 / 139)^0.5 = $95.2. One-year change 2024 to 2025: $108 x (108 / 115) = $101.4. BNEF like-for-like fall of 8%: $108 x 0.92 = $99.4. The mean of the three is $98.7, shown as about $99, with a range of $95 to $101. This is not a BNEF forecast, and one year can break a trend.
  10. C10 Spectator emissions against the venue: 34,464 t (C2) / 1,362.76 t (S14) = 25.3, shown as around 25 times. The numerator is a Greenly estimate.
Sources
  1. Formula 1 ESG Report 2026
  2. Formula 1: on track to net zero 2030, 35% reduction
  3. Greenly: F1's real carbon footprint
  4. Formula E sustainability and Season 9 report
  5. Formula 1: 12 rule changes for 2026
  6. Formula E Gen4 specification
  7. BloombergNEF: battery pack prices 2025
  8. IEA: Global Critical Minerals Outlook 2025
  9. Sky Sports: Bahrain and Saudi Arabia cancelled
  10. RacingNews365: Formula E 2025/26 calendar
  11. EIA Short-Term Energy Outlook, October 2026
  12. Energy Market Authority: tariffs and energy statistics
  13. NCCS: power sector and carbon tax
  14. Singapore GP sustainability
  15. SportBusiness: Singapore race deal to 2028
  16. OpenF1 timing data, 2026 Singapore GP
  17. Publishers also consulted in the fact check. These links go to each publisher's home page, not to a specific article: FIA Formula E · Energy Market Authority · DHL · PUB Singapore · Ministry of Trade and Industry · Autosport · formula1.com · EIA · Rigzone · Petroleum News · Racer · Sustainability Magazine · e-formula.news · RacingNews365. The Season 13 opener in Jeddah was reported as under review on 12 October.
Trivia sources
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