PwC announces new carbon reduction targets
The professional services firm based in London, PwC, has announced its new targets for carbon reduction as it also intends to expand.
The company aims to reduce its carbon emissions by 40%, as well as switch to 100% renewable energy by 2022.
PwC has successfully managed to reduce its carbon footprint by 29% in the UK over the previous 10 years.
This includes a 77% decrease in its carbon footprint associated to building energy consumption.
During this review period, PwC has also expanded its business growth by 44%.
“By setting clear targets we’ve been able to make a significant difference to our carbon footprint over the past 10 years. Along our 10-year journey we’ve learnt a lot and have been able to pioneer new, environmentally-friendly technologies, which are now used more widely across the industry,” stated Kevin Ellis, Chairman of PwC.
“Reducing our carbon footprint has also had financial benefits, showing that economic success and doing the right thing can go hand-in-hand.””
Our people and clients expect us to continue to lead the way, which is why we’re announcing new ambitious targets to reduce our carbon footprint further in the next five years.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.