ESG & Investing
Drax Green Credentials Under Review as Campaigners Cry Foul
- OECD studying complaint that firm’s CO2 claims are misleading
- Drax says it is engaging with the OECD on the next steps
Biomass fuel storage tanks at the Drax Group Plc's power station near Selby, UK.
Photographer: Simon Dawson/Bloomberg
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UK power generator Drax Group Plc is under mounting scrutiny following a complaint by environmental campaigners that it’s misleading consumers about its greenhouse gas emissions.
The Organisation for Economic Cooperation and Development said it’s reviewing an allegation that Drax’s claim that it produces “carbon-neutral” electricity from burning biomass is wrong. Such criticism could be particularly embarrassing for a company that describes itself as the UK’s largest source of renewable energy.