If we were serious about keeping global temperature rise under 2°, we'd ban motorsport from using fossil fuels.
It's one thing to keep essential production and transport going until we figure out how to decarbonise them. But if all motorsport stopped tomorrow, the only consequence would be a bunch of bored rich people having to find a new hobby (yachting?), and motorsport fans having to find some other variant on watching paint dry to entertain themselves.