Our purpose: to enable a zero carbon, lower cost, energy future
If we are to avert a climate catastrophe, more urgent action must be taken to get to net zero
Our strategic objectives are aligned to net zero targets:
To be a global leader in sustainable biomass pellets
To be a global leader in carbon removals
To be a UK leader in dispatchable, renewable generation
Our purpose and ambition drive our commitment to address climate change
We believe that Drax is a world leader in sustainable biomass and that BECCS can become a world leading, UK-led, exportable solution for large-scale carbon removals, subject to the right regulatory and investment framework.
Reflecting this belief, we are continuing to develop an option for our UK BECCS project and opportunities to invest in BECCS in North America. We believe this could be the world’s leading market for these types of technologies.
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An important role to play
Through 2022, Drax continued to make progress towards our purpose (to enable a zero carbon, lower cost energy future) and our aim (to be a carbon negative company by 2030). At the same time, we have supported energy security in the UK.
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Financial/ESG Highlights
£8,159m
Adjusted revenue (1)
(2021: £5,174m)
£7,775m
Total revenue
(2021: £5,088m)
11%
Percentage of total UK renewable electricity generated
(2021: 12%)
21.0 pence
Dividend per share
(2021: 18.8p)
21.3 pence
Earnings per share
(2021: 18.8p)
£1,206m
Net debt
(2021: £1,108m)
£731m
Adjusted EBITDA from continuing and
discontinued operations
(2021: £398m)
£146m
Total operating profit
(2021: £197m)
0.44
Total recordable incident rate
(2021: 0.22)
3.9Mt
Wood pellets produced
(2021: 3.1Mt)
669 ktCO2e
Group carbon emissions scope 1 & 2
(2021: 1,255 ktCO2e)
3,123 ktCO2e
Group carbon emissions scope 3
(2021:3,121 ktCO2e)
