Neste welcomes the Singapore government’s decision to adopt a national sustainable aviation fuel target
Neste Corporation, News, 20 February 2024
Neste welcomes the Singapore government’s decision to adopt a national sustainable aviation fuel (SAF) target for flights departing Singapore as part of the Sustainable Air Hub Blueprint, Singapore’s State Action Plan for the decarbonization of its aviation sector and sustainable aviation growth. With this decision, the government aims to accelerate efforts to reduce greenhouse gas emissions (GHG) in the transport sector to meet Singapore’s national target of reaching net-zero emissions by 2050, and enhance Changi Airport’s competitiveness as a sustainable aviation hub.
Under the Blueprint, Singapore will implement a national SAF target of 1% in 2026 with a goal to raise this to 3-5% by 2030, subject to global developments and the wider availability and adoption of SAF. A levy will be introduced for the purchase of SAF to achieve the uplift target. To further manage the cost of using SAF, the procurement of SAF will be centralised, using the levies collected to aggregate demand and reap economies of scale. Businesses and organizations will also be invited to use the central procurement mechanism for their respective voluntary SAF purchases to reduce their carbon emissions from air travel. The Singapore government will work closely with industry partners to increase SAF production capacity in Singapore and the region.
In 2022, Neste was one of the 20 industry, technology, and knowledge partners from Singapore and around the world invited to join the International Advisory Panel (IAP) on Sustainable Air Hub to help support the development of the Blueprint.
“This is an encouraging and positive step towards reducing the climate impact of aviation as the Blueprint strengthens Singapore’s forerunner position in the Asia Pacific region in driving more sustainable flying. SAF is a key lever to achieving the goal of net zero aviation by 2050 and governments play a crucial role in translating that ambition to targets and policy frameworks. As the world’s leading producer of SAF, Neste is committed to supporting Singapore’s ambitions,” said Sami Jauhiainen, Vice President APAC from the Renewable Aviation business at Neste. “Neste has established an integrated sustainable aviation fuel supply chain into Changi Airport from our renewables refinery located at Tuas, enabling us to supply readily blended SAF directly, into-wing, to our global airline customers flying to the Changi Airport.”
Sustainable Aviation Fuel
Sustainable aviation fuel is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil-based jet fuel. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to 80%* over the fuel’s life cycle, compared to using conventional jet fuel. Neste’s SAF is made from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. SAF is blended with conventional jet fuel before use and works seamlessly with existing aircraft engines and fueling infrastructure.
*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as the CORSIA methodology
Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2023, Neste's revenue stood at EUR 22.9 billion. Read more: neste.com
