Formula 1 chief executive Chase Carey has donated $1M of his own money to fund a new foundation aimed at improving diversity and inclusion across the sport.

The new foundation is linked to F1’s #WeRaceAsOne Task Force initiative that was launched earlier this week and which followed the sport’s ambitious sustainability program announced back in November.

F1 to launch #WeRaceAsOne initiative in Austria

“The Task Force will be established over the next few months and will include input from the drivers and teams, as well as external diversity and inclusion experts,” said F1 in a statement released on Thursday.

“The Task Force will be specifically focussed at identifying the employment and education opportunities for under-represented groups across Formula 1, including STEM careers, and the required actions to address these findings.

“Alongside the Task Force we will also take initial action to create a foundation to finance primarily, but not exclusively, internships and apprenticeships within Formula 1 for under-represented groups to ensure they have the opportunity to fulfil their potential and have access to a promising career in the sport.”