Energy company Drax is under investigation by the UK’s financial watchdog over the firm’s sourcing of wood for biomass pellets in the wake of whistleblower claims.
The London-listed group said the Financial Conduct Authority (FCA) probe covers more than two years, from January 2022 to March 2024, and will also look at compliance of Drax’s annual reports from 2021, 2022 and 2023 with rules over listing, disclosure and transparency.
