Neste Corporation, Press Release, 10 February 2020 at 9 a.m. (EET)
In 2019, Neste’s renewable products helped customers in several geographic markets to reduce greenhouse gas emissions by 9.6 million tons* altogether. This amount equals the annual carbon footprint of 1.5 million average EU citizens (source: World Bank) or the removal of 3.5 million passenger cars from the roads for a full year.
“Neste’s business is focused on helping our customers in the transport sector and cities, as well as in the aviation, polymers and chemical industries to make their business more sustainable. We are extremely proud to work together with our customers and partners in reducing their greenhouse gas emissions with our renewable products, such as Neste MY Renewable Diesel™ and Neste MY Renewable Jet Fuel™. These are high-quality renewable and readily available solutions to reduce transportation or aviation-related emissions”, says Peter Vanacker, President and CEO of Neste.
“Last year, we made two ambitious climate promises. The first one is reducing our customers’ greenhouse gas emissions with renewable and circular solutions by at least 20 million tons CO2eq annually by 2030. Going from 7.9 million tons in 2018 to 9.6 million tons of reduced greenhouse gas emission in 2019 was a great start here. The second promise is to reduce the carbon footprint of Neste’s production ahead of EU’s climate and energy targets. One concrete example of this is our long-term agreement on wind power at our production sites in Finland,” Vanacker continues.
Focus on capacity, innovation and collaboration
Neste’s aspiration is also to expand its unique global waste and residue raw material platform. In 2019, the renewable waste and residue raw materials accounted for 80% of Neste’s annual usage of renewable raw materials. The company also invests in the search of new scalable future raw materials and required technologies, looking beyond the present raw material sources.
“We believe that collaboration is the key to success. By working together we are able to drive the industry forward, reduce emissions and help tackle the climate crisis”, Vanacker adds.
For more than ten years, Neste has steadily increased the volume of its renewable products. Today, the company has the capacity to produce 3 million tons of renewable products annually at its refineries in Finland, the Netherlands and Singapore. Of these 3 million tons, Neste’s annual renewable jet fuel capacity is currently 100,000 tons. Following the Singapore expansion in 2022, Neste will have the total renewable product capacity close to 4.5 million tons annually. Of the total capacity in 2022, the capacity share for renewable jet fuel will be over 1 million tons annually.
*) The method used to calculate life cycle emissions and emission reduction complies with the EU Renewable Energy Directive (2009/28/EC).
Vice President, Communications (act.)
Further information: Please contact Neste’s media service, tel. +358 50 458 5076 / firstname.lastname@example.org (weekdays from 8.30 a.m. to 4.00 p.m. EET).
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2019, Neste's revenue stood at EUR 15.8 billion. In 2020, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com