FCA shuts Drax biomass probe after near‑decade reviewExecutive summary: The FCA has closed its investigation into Drax's biomass fuel sourcing after a nearly 10‑month review. The inquiry examined whether Drax made misleading statements about the sustainability of its wood pellets, a core element of its renewable energy narrative. Financial Conduct Authority and Drax Group Drax will likely face ongoing monitoring of its ESG reporting and potential future scrutiny of its biomass claims.The Financial Conduct Authority has closed its almost decade‑long investigation into Drax Group's biomass fuel sourcing following a thorough review of the company's statements on wood pellet origins. The probe, launched in August 2025, examined claims of sustainable sourcing and potential misleading marketing. While no enforcement action was taken, the closure signals regulatory satisfaction with Drax's corrective measures and may influence future scrutiny of clean‑energy firms' environmental claims.Connected developmentsFCA seeks stronger powers to raise fines on individualsFCA seeks stronger powers to raise fines on individualsCar finance payouts could be delayed by years over legal challenges, says FCAOpen the full case file on Beyond →
Social Pulse
AI estimate · not scraped