Carbon sequestration through forestry projects is recognised as playing a role in helping to reduce the threat of climate change. The FIA Foundation is now supporting a carbon sequestration project in Mexcio, which offsets all the carbon dioxide emissions from racing cars in the Formula 1 and World Rally Championship series. The Scolel Te project in Chiapas is accredited by the United States Initiative on Joint Implementation, and alongside its environmental purpose also provides development support for local people in the form of employment. The FIA Foundation's support for the scheme was formally announced at a ceremony in Mexico City attended by Max Mosley, FIA President and FIA Foundation trustee.