Drax joins global environment group the First Movers Coalition

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Power company Drax has joined a global group of companies aiming to help the drive towards net zero.

The Selby firm has announced its membership of the First Movers Coalition (FMC), a group led by the World Economic Form and the US Department of State which is aiming to tackle eight industries responsible for large amounts of global emissions. Drax will join the organisation’s carbon dioxide removals group, which includes businesses committed to carbon removals from solutions such as carbon capture and storage.

CEO Will Gardiner said: “The commitments to carbon dioxide removals we are seeing in the market now are essential to accelerating the deployment of climate saving technologies like bioenergy with carbon capture and storage (BECCS) which we will need to meet our climate goals.

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“We welcome the opportunity to join the World Economic Forum in their efforts developing early markets for innovative technologies like BECCS. Through BECCS, Drax aims to be a global leader in high-integrity carbon removals and as part of that ambition we welcome the opportunity to demonstrate leadership and investment in the sector.”

Nancy Gillis, programme head of the First Movers Coalition at the World Economic Forum said: “We are thrilled to welcome Drax to the First Movers Coalition and look forward to working alongside the company to drive the acceleration of the global carbon removals market.

“The First Movers Coalition believes that reducing emissions to net-zero by 2050 is possible if the right technologies are brought to commercial scale within the next decade, and we need companies like Drax to champion this mission to enact the change we need.”

Drax says it plans to invest billions of pounds over the coming years in carbon removals and renewable energy projects, with the aim of capturing 14Mt a year of carbon removals by 2030 globally and to be a global leader in carbon removal projects.

The company owns a portfolio of renewable electricity generation assets in England and Scotland, headed by its power station in North Yorkshire which has been switched from coal-fired power to the use of biomass.

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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Drax joins global environment group the First Movers Coalition

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