Biomass Power Industry ESG Thematic Report, 2023

Biomass Power Industry ESG Thematic Report, 2023

Compliance, ESG Challenges & Framework, ESG Trends

  • Published Date: Nov, 2022
  • Report ID: Astra-100209
  • Format: Electronic (PDF)
  • Number of Pages: 69

Environment, Social and Governance (ESG) in Biomass Power Industry

Use of fossil fuels for generating energy is slowly getting frowning responses. The resulting acid rains and smog from energy generated using fossil fuels are hindering progress on United Nations Sustainable Development Goal (SDG) 13 - Climate Action, which is a key sustainability indicator. Hence, renewable energy sources are gaining popularity which offers clean energy (SDG 7). One way of generating renewable energy is through biomass power plants. The process depends on the sources like sun, plants, crops, etc. as availability of plant sources is abundant in nature and these sources regrow in relatively shorter time.

Biomass power can be further classified into combustion, gasification, and anaerobic digestion. Of the three, combustion dominated the 2021 market in terms of revenue. the Market is an answer to global issues like coal phase out, greenhouse gas emissions due to fossil fuels and radioactive waste generated by nuclear power plants. Therefore, replacement of other forms of energy generation with biomass power plants will help in progressing un UNSDGs- 7, 12, 13, 14 and 15.

ESG Trends

Regions like Europe and Northern America which are highly dependent on coal for power are driving the wheel of change in the industry. Europe has a target of becoming carbon-neutral by 2050 in line with the Paris agreement, to which the biomass power industry has a major contribution. In 2021, Europe was the market accounting for more than 37% of the revenue share.

The demand for biomass power across North America is primarily driven across the U.S. and Canada with North America accounting for a significant share of the global market revenue in 2021. North America is heavily dependent on coal for power generation; however, the recent discovery of shale gas reserves in the region has helped propel gas-based power generation, which is gaining higher growth over the former power generation method in the country. In Asia Pacific the market is estimated to register the fastest growth rate in the next five years.

India is leading the Asia-pacific market when it comes to biomass power generation where 32% of total energy is derived from biomass power fueling 70% of the country’s energy needs.

ESG Challenges

The global biomass power market size was valued at USD 121,340.76 million in 2021 and is projected to exhibit a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. But just like any other sector, the biomass power market has its own shortcomings.

Operational challenges in this sector can bring downfall in mass acceptance of this market worldwide. Inefficient resource management, effects of different seasons and regions on storage and pressure on transport to carry biomass moisture are few of the operations related issues that stand still in panning this technology worldwide. Additionally, less energy density of biomass makes it difficult to supply masses.

In terms of promotional policies and regulations, governments will have to take a leading role. To bring uniform development of the biomass power sector worldwide, governing bodies need to come up with special mechanisms to develop the biomass resources industry and agree less on subsidized domestic fuel prices which can close poverty gaps and help accomplish UN SDG 1. 

Key Companies in this theme

    • Mitsubishi Heavy Industries, Ltd.

    • Suez

    • Xcel Energy Inc.

    • Ramboll Group A/S

    • Babcock & Wilcox Enterprises, Inc

Scope Of the Biomass Power Industry ESG Thematic Report

    • Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape

    • Key insights on infrastructure developments and ESG issues affecting the theme

    • Identify key initiatives and challenges within the industry

    • Identify ESG leaders within the industry

    • Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process

    • Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment

Key Benefits of Biomass Power Industry ESG Thematic Report

    • Developing a comprehensive understanding of macro-economic, Policies & Regulations and innovations affecting the biomass power industry, globally

    • Key insights into environmental developments and ESG issues affecting the theme

    • Identifying ESG risks and opportunities to business among leading players in the industry

    • Obtaining a clear and relevant understanding of company actions, progress, and impact and find opportunities for investment into the sector

gvr icn


gvr icn

This Free Demo includes an overview of our proprietary ESG dashboard with industry & company benchmarking data, country performance, technological innovations, market estimates & forecasts. See for yourself!