Drax attends the World Economic Forum

The energy producer is now a member of the forum’s First Movers Coalition (FMC), made up of companies aiming to develop carbon removal technologies to help countries achieve net zero.

It was launched at COP26 by US Presidential Special Envoy for Climate John Kerry.

Will Gardiner, CEO of Drax Group, said: “The carbon removal commitments we now see in the market are essential to accelerating the deployment of climate-smart technologies such as bioenergy with carbon capture and storage (BECCS), which we must deliver .” Climate goals.

“We welcome the opportunity to join the World Economic Forum in its efforts to develop early markets for innovative technologies such as BECCS.

“Through BECCS, Drax aims to become a global leader in highly integrated carbon removal and as part of this goal we welcome the opportunity to demonstrate leadership and investment in this sector.”

Nancy Gillis, program director of the First Movers Coalition at the World Economic Forum, said: “We are pleased to welcome Drax to the First Movers Coalition and look forward to working with the company to accelerate the acceleration of the global carbon removal 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 committed to this mission, to bring about the change we need.”

With the right government commitment, Drax plans to invest billions in global carbon removal and renewable energy projects in the coming years, with the aim of removing 14 million tonnes of carbon per year globally by 2030 and being a global leader in carbon removal projects.