Drax could build one of the world’s largest batteries and create Britain’s biggest gas plant under ambitious plans to transform its North Yorkshire power station. The Drax coal and biomass plant near Selby is already the country’s biggest power station, capable of generating 3.9 gigawatts, or about 7 per cent of the country’s electricity needs. The plans announced yesterday could increase the site’s capacity to more than six gigawatts and enable it to stop burning coal as soon as 2020.
Times 14th Sept 2017 read more »
FT 13th Sept 2017 read more »
A coalition of institutional investors managing more than $1tn in assets is demanding that 60 of the world’s largest banks take action to protect the world from the threat of catastrophic damage due to climate change. The devastation caused by Hurricane Irma across the Caribbean and Florida has added urgency to efforts by pension funds and asset managers to step up the fight against climate change. Letters have been sent to the chief executives of banks including HSBC, Lloyds, Bank of America, JPMorgan Chase, Morgan Stanley and Deutsche Bank to demand more information about their exposures to climate-related risks and their plans to ensure compliance with the landmark agreement to tackle global warming reached by governments in Paris in December 2015.
FT 14th Sept 2017 read more »