Independent analysis illustrates the positive
impact of Drax's wood pellet operations and how it helps support
more than 3,000 Canadian jobs
VANCOUVER, BC, Sept. 16,
2024 /PRNewswire/ -- A new economic analysis
conducted by MNP, one of Canada's
leading professional services and research firms, has found that
Drax Group contributed $1 billion
towards the Canadian economy and supported more than 3,000 jobs in
2023.
Independent analysis illustrates the
positive impact of Drax's wood pellet operations
The study measured the economic impact of Drax's Canadian
operations, which includes 10 pellet plants across British Columbia and Alberta, producing sustainable biomass wood
pellets to generate renewable power in the UK and Asia.
"We take pride in the longstanding role we play in making
Canada a renewable energy leader
and we are grateful for the many employees, both our own and across
our supply chain, for their dedication to building a strong clean
energy workforce in communities across Canada," said Liezl
van Wyk, Drax's Vice President of Northern
Operations.
The report also showed Drax's commitment to sourcing from local
suppliers by purchasing nearly 75% of its goods and services from
those based within the respective province of their operations,
which further supports local jobs and economies. Of the
purchases made from suppliers outside of the province, over 90% are
from Canadian businesses.
"Canada has built a robust
economy through smart policies supporting domestic production of
renewable energy. We will continue to find new and innovative ways
to further our sustainability efforts for the benefit of
Canada's natural resources," said
van Wyk.
The total employment supported by Drax's operations (3,101 jobs)
is approximately equivalent to the employment supported by the
construction of 1,447 new homes in Canada.
Thousands of jobs are supported by Drax's activities across
Canada in a wide range of sectors
including high-skilled manufacturing of industrial components,
engineering and technical machinery and transportation, many of
which are in rural communities.
For example, in the Entwistle
and Burns Lake communities where
Drax's pellet plants are located, Drax provides 26% and 18% of
their total employment income.
"We commend the workers, policymakers and other stakeholders who
help ensure energy security and economic growth, particularly
during times of international instability," said van Wyk.
Companies such as local sawmills rely on Drax to purchase their
residuals and by-products. The use of these materials by Drax also
keeps them out of landfills and off forest floors, where they can
become fuel for wildfires. The timber, forest and furniture
industries, among many others, have been key collaborators in
sourcing residuals and waste products for beneficial reuse by
Drax.
"Our research demonstrates the economic impact that Drax Group
has made to the Canadian economy, with their operations in
Canada generating $372 million in GDP in 2023," said
Susan Mowbray, Partner at
MNP. "We also found that the economic activity generated by
Drax's pellet plants, port terminals and corporate offices, has a
positive impact on local communities across Canada."
View an executive summary and other highlights from the report
here.
About Drax
Drax Group's purpose is to enable a zero
carbon, lower cost energy future and in 2019 announced a
world-leading ambition to be carbon negative by 2030, using
bioenergy with carbon capture and storage (BECCS)
technology. Drax's around 3,000 employees operate across three
principal areas of activity – electricity generation, electricity
sales to business customers and compressed wood pellet production
and supply to third parties. For more information, visit
http://www.drax.com/ca
About MNP
National in scope and local in focus, MNP is
one of Canada's leading
professional services firms — proudly serving individuals,
businesses, and organizations since 1958. Through the development
of strong relationships, MNP provides client-focused accounting,
consulting, tax, and digital services. MNP's clients benefit from
personalized strategies with a local perspective to fuel success
wherever business takes them. For more information, visit
www.mnp.ca.
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SOURCE Drax Group
