[WATCH]: Leonardo DiCaprio Delivers Opening Remarks at UN Climate Summit
The UN Climate Summit kicked off today and one of the world's most beloved actors was there to deliver a rousing message detailing the urgency of the matter that the group of world leaders faces.
In his empassioned speech, Leonardo DiCaprio told the UN that while, as an actor, he pretends for a living, they have the power to enact change. He made is clear that the issue is a global one, and that "renewable energy is not only achievable, but good economic policy." He also emphasized that while daunting, there is still time to reverse climate change.
Watch the whole speech above.
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.