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Red Sox Become First Carbon Neutral Fan Experience in Baseball with Aspiration
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
The Boston Red Sox have partnered with Aspiration to neutralize greenhouse gas emissions for fans attending games at Fenway Park. Aspiration will embed a Planet Protection contribution within each ticket purchase, facilitating climate action for fans. This partnership aligns with the Red Sox's commitment to sustainability established in 2007, enhancing their green initiatives. Aspiration is also set to merge with InterPrivate III Financial Partners (NYSE: IPVF), becoming a publicly listed Public Benefit Corporation. This collaboration establishes a new standard for climate accountability in sports.
Positive
Partnership with Aspiration positions the Red Sox as climate leaders in Major League Baseball.
Integration of sustainability measures directly into ticket sales for fans at Fenway Park.
Aspiration's merger with InterPrivate III Financial Partners (NYSE: IPVF) may enhance financial stability and growth opportunities.
Negative
Potential costs associated with implementing sustainability measures could impact short-term profitability.
Aspiration’s Planet Protection to aid the Red Sox in Expanding their “Greening” Efforts
LOS ANGELES--(BUSINESS WIRE)--
The Boston Red Sox, one of the best-loved sports franchises in the world, and Aspiration, the global leader in sustainability as a service, today announced that they have created a historic partnership to neutralize the greenhouse gas emissions of Red Sox fans attending games at Fenway Park in Boston, MA, through Aspiration’s Sustainable Impact Services and Planet Protection feature. Aspiration will serve as the official sustainability provider for the team in a deal that will mark the Red Sox as a climate leader in Major League Baseball.
The Red Sox will embed an Aspiration Planet Protection contribution in every ticket purchase for Fenway Park to easily integrate climate action into the day-to-day fan experience. The club will contribute a portion of the sale of each ticket to the Aspiration Planet Protection Fund for the purchase of verified carbon credits and to provide other sustainability services that help counter fans’ individual climate impact as they root on their team throughout the season.
“Finding sustainable and efficient ways to lower our carbon footprint and help offset the environmental impact of a 110-year-old ballpark requires creativity, unique methods, and deeply passionate partners like Aspiration,” said Red Sox Chairman Tom Werner. “With this deal, a portion of the sale of every Red Sox ticket will be contributed to the Aspiration Planet Protection Fund which will help neutralize the climate impact of each fan attending a game at Fenway Park. We are thrilled to be working with a company that is fighting climate change by infusing that mission into every aspect of their business.”
Built in 1912, the legendary Fenway Park is one of the oldest baseball parks in the U.S. – and in recent years, has become a model for what the green future of the sport can look like. The partnership with Aspiration builds on an initiative that began in 2007, when the Red Sox undertook a five-year greening plan for Fenway Park through work with the Natural Resources Defense Council, including the installation of solar panels and the implementation of the ballpark’s Green Team, a first-of-its-kind recycling initiative. Today’s announcement signals the Red Sox’s ongoing commitment to climate-conscious endeavors and sets a new standard for offsetting the carbon footprint of its fans.
“The home of the Green Monster is becoming the home to ‘green’ progress and ‘Dirty Water’ is giving way to a cleaner planet,” said Andrei Cherny, CEO and Co-Founder of Aspiration. “We’re honored to partner with the Red Sox in this effort to bring easy, automated climate impact to every fan that walks into Fenway Park and are excited to set a new standard for climate accountability in sports.”
Every verified carbon credit project that Aspiration supports with Planet Protection goes through a rigorous verification process. Issued credits are certified by carbon standards including the Verified Carbon Standard, Gold Standard, American Carbon Registry, and Climate Action Reserve, and verified by an independent auditor.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly-traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
CAA Sports orchestrated the agreement between Aspiration and the Boston Red Sox.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 7 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former BankOneChairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
What is the partnership between Aspiration and the Boston Red Sox about?
Aspiration and the Boston Red Sox have partnered to neutralize greenhouse gas emissions for fans attending games at Fenway Park through a Planet Protection contribution included in ticket purchases.
How does the Red Sox plan to support sustainability through ticket sales?
A portion of each ticket sale will be contributed to the Aspiration Planet Protection Fund for purchasing verified carbon credits and other sustainability initiatives.
What is Aspiration's merger with InterPrivate III Financial Partners (NYSE: IPVF) expected to achieve?
The merger will enable Aspiration to become a publicly listed Public Benefit Corporation, enhancing its commitment to social and environmental good.
When did the partnership between Aspiration and the Red Sox start?
The partnership was announced recently and builds on the Red Sox's sustainability efforts initiated in 2007.
