Schneider Electric deepens carbon neutral commitment at COP24
Leading global power company Schneider Electric announced yesterday it is accelerating its contribution to meeting the UN’s Sustainable Development Goals (SDGs).
The announcement was made to coincide with COP24, a sustainability event taking place in Poland beginning today, following an initial commitment made by the company in 2015. The initial aim to become carbon neutral by 2030 is still well underway, with the company having stated it will look to use “solutions that will help accelerate the transition to a low carbon economy”.
Its current, further defined goals include 21 new commitments of the 2018-2020 Schneider Sustainability Impact Barometer. It will look to achieve carbon neutrality by 2030 at its plants and sites, with specific commitments to switch to 100% renewable electricity, use 100% recyclable or reusable packaging, and recover 100% of its industrial waste. By 2050, as of yesterday, the company will also cut its scope 1 and scope 2 carbon emissions by more than 50% based on 2015 figures.
Senior Vice President of Sustainability at Schneider Electric, Gilles Vermot Desroches, commented: “The climate emergency is growing, and new players are emerging to tackle the issue. The Paris Agreement signed three years ago provides us with a much clearer understanding of what is at stake. We're now at a tipping point in limiting global warming to less than 2°C above pre-industrial levels to avoid a major ecological disaster.”
He added: “The decisions we make today are critical to ensuring a safe and sustainable world for everyone, both now and in the future. At Schneider Electric, we believe that sustainability and innovation is technologically possible today.”
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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.