In a strong message released alongside the company’s Environmental Social Governance (ESG) Strategy, Mr Bradshaw said that the government’s stance could impact on how much investors are willing to put into Viridor’s decarbonisation activities.
The company wants to ensure that, should Viridor invest in carbon capture and storage (CCS) at its EfW facilities, the government’s green taxonomy regime would support decarbonisation of the waste sector.
Emissions
Viridor reminded the government that the EfW sector is seventh in terms of carbon emissions and so should attract support. The significance of the sector as a carbon emitter is evidenced by the company’s Runcorn EfW plant, which emits 800,000 tonnes of CO2 a year.
(above: Viridor video explaining its ESG policy)
2035
It is thought that the company aspires both to capture carbon and then to sell evidence for the carbon which has been captured. This would give it a significant additional income stream, especially from large EfW plants such as Runcorn.
Based on currently available technology and the Government’s planned roll-out of CCS, Viridor said it believes that by 2035 it should be possible to have implemented the technology at four of its key EfW operations.
Viridor’s aspirations were raised at a City of London event this week, where the company launched its first ESG strategy since becoming a standalone business two years ago.
It was explained that the company not only wants to capture the carbon emissions, but also to capture biogenic emissions from waste, in so doing generating ‘negative emissions’.
Leading on health, safety, decarbonisation, and circularity is where we can make a meaningful difference
Chief executive Kevin Bradshaw said: “Leading on health, safety, decarbonisation, and circularity is where we can make a meaningful difference.
“By classifying waste decarbonisation activities as green investments, the Government could unlock more investment into UK infrastructure and build on the UK’s leading net zero targets.
“Viridor is committed to becoming a net zero company. Policy will be a huge factor in how fast and far we can move on this journey.”
Milestone
Dr Tim Rotheray, director of ESG at Viridor, added “This is a significant milestone in Viridor’s journey since becoming a standalone business in 2020.
“We have had the opportunity to completely reassess our focus on ESG and we are determined to play a leading role in transforming the waste sector.”
ESG Strategy
Read Viridor’s full ESG strategy HERE
Subscribe for free