Tag: coal

Drax to stop using coal well ahead of UK’s deadline

Stuart Mitchell

Almost 50 years of coal-fired electricity generation at Drax Power Station is expected to come to an end in March 2021 – marking a major milestone in the company’s world-leading ambition to become carbon negative by 2030. It means the country’s largest power station will stop using coal well ahead of the government’s 2025 deadline, making an even bigger contribution to the UK’s efforts to achieve net zero. The decision to stop using coal at Drax comes after a comprehensive review of its operations. Drax does not expect to use…

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Allianz drives change toward a low-carbon economy with an ambitious climate protection package

Stuart Mitchell

The Allianz Group is significantly expanding its climate strategy and has announced commitments to actively support the global change to a low-carbon economy over the coming decades. Allianz is one of the first insurance companies to set itself long-term climate goals which are linked to the two-degree target of the Paris Climate Agreement. By 2040, in a step by step process, Allianz will have phased out both its proprietary investments in coal-based business and its insurance coverage of such risks. In addition, the company will reduce the carbon footprint of…

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