Drax responds to the UK emissions trading scheme (ETS) reforms July 2023

Ross McKenzie, Drax’s Interim Group Director of Corporate Affairs, said:

“This announcement positions the UK as the potential home of one of the largest compliance markets for carbon removals in the world and we are delighted that the Government intends to include engineered Greenhouse Gas Removals (GGRs) in the UK ETS.

“The development of such a market is an important step towards deploying large-scale carbon removal technologies such as Bioenergy with Carbon Capture and Storage (BECCS). These technologies are essential in the fight against climate change as they permanently remove more carbon dioxide from the atmosphere than they emit.

“With the right support from the UK Government, Drax plans to invest billions into delivering BECCS at our power station in North Yorkshire. This would enable the plant to simultaneously remove millions of tonnes of carbon dioxide from the atmosphere whilst also strengthening UK energy security through generating reliable, renewable power when the wind isn’t blowing, or the sun is not shining.”