PwC: RE100 commitment just one step on sustainability journey
The latest addition to the Climate Group’s RE100 initiative for green energy has been named as global consultancy PricewaterhouseCoopers (PwC), which aims to source 100% renewable energy for its global operations by 2050.
The company has also set itself a target of 70% renewable energy by 2022. However, the company has already made strides on its sustainability journey in the past year, reducing emissions per employee by 7%. It has also achieved an 85% reduction of emissions from energy use over the last 11 years and is now introducing an air travel offset program.
PwC will also enjoy the knowledge that its business can continue to operate not only sustainably but economically too, following the recent release of figures stating that RE100 members enjoy “above average financial performance” in comparison with their counterparts.
PwC has made it clear that the RE100 commitment only serves to reinforce its wider global environmental commitment, stating in a press release: “Many PwC firms have long been strong performers at a national level in managing their carbon impact and showcasing innovation in the sector… the new commitment enables PwC to baseline a consistent target across its major operations globally.”
Mike Peirce, Corporate Partnerships Director at The Climate Group, said: “By joining RE100… PwC makes it clear that renewable power is integral to a future-orientated business strategy. As a network of firms in over 150 countries, PwC is sending a powerful message that business has a key opportunity to grow demand for clean energy across the globe.”
Bob Moritz, Global Chairman of PwC added: “We believe business has a key role to play in solving societal challenges alongside other stakeholders. This commitment is for us a recognition of the need to accelerate the pace of change, and individual business commitments, collectively, will make a critical difference to that.”
Colm Kelly, PwC Global Leadership Team member and Corporate Responsibility Board Chair, stated: “While our carbon impact is relatively low, it’s still important that we take action to tackle our emissions. Operating efficiently is simply good business and these commitments are a great way of keeping up momentum on embedding smarter ways of working. As we work towards our commitment we will offset unavoidable emissions from air travel by investing in high quality products.”
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.