Neste Corporation, Press Release, 29 June 2022 at 1.00 p.m. (EET)
Today, Neste and Fly Victor, the on-demand private jet company, announce a partnership which sets a new sustainability benchmark in business aviation. Starting today, Victor members can purchase Neste MY Sustainable Aviation Fuel™ (SAF) for every private jet booking globally. This enables private jet charterers to reduce the carbon footprint of their private air travel in a credible and measurable way.
Victor’s private and corporate members can reduce the carbon emissions of their air travel, meet the climate targets they have set, and credibly report on their CO2e emission reductions. Corporates signed up for Science Based Targets initiative (SBTi) who are genuinely committed to reducing their Scope 3 emissions, and specifically emissions from their jet charter flights, can currently do this only by booking private jet charter flights with Victor.
As aviation in Europe sets its sights on increasing the share of SAF to up to 10% of all jet fuel use by 2030, this new partnership model also enables accelerated action towards this target. Given how fragmented the business aviation sector is, this “pay here, use there” solution is the first to offer SAF for every charter flight. This is crucial as it enables SAF demand to increase. Victor’s global base of influential members who have the ability and means to choose SAF and make their private travel with reduced climate impact, are offered a great opportunity to help increase the overall demand so this sustainable solution can develop more rapidly.
“I am relieved to be announcing our global partnership with Neste today. The urgent and rapid scaling-up of sustainable aviation fuel is essential if we are to achieve our net-zero goals. It's fundamental to all our stakeholders that we continue to be transparent about the emissions of our members’ private flights and, where possible, take ownership of the climate crisis. I'm thankful for the enterprise and dedication that has been put in by both the Neste and Victor team to ensure our members can now choose to replace fossil fuel with Neste MY Sustainable Aviation Fuel on every private jet and commercial jet charter booking. Our pioneering partnership could create a SAF blueprint for the fragmented business aviation sector and help accelerate its wider usage across the aviation industry,” Toby Edwards, Co-CEO at Victor, commented.
“I’m excited that we are in this pioneering partnership together with Victor, a leader in charter aviation. It enables Victor members to purchase Neste’s SAF for any flight booked through Victor globally. It is an industry-leading blueprint that we hope other companies will follow as the aviation sector strives for net-zero carbon emissions by 2050. SAF is essential to reaching this goal, immediately reducing greenhouse gas emissions from flying. Neste is committed to supporting aviation’s emission reduction goals and believes that requires a joint effort where everyone’s choice matters,” said Jonathan Wood, Vice President Europe, Renewable Aviation, at Neste.
How the Victor x Neste offering works
This industry-leading partnership with Neste makes Victor the first and only on-demand private jet charter business to provide SAF to all their members for every flight booked through Victor, regardless of operator or departure airport. When booking a charter, Victor’s private and corporate members can choose how much fossil fuel they want to replace with Neste MY Sustainable Aviation Fuel from as little as 5% up to 100%. All contributions are welcomed and encouraged. Neste ensures specific SAF volumes purchased by Victor members are delivered and used by partner aircraft operators, providing real climate benefits and greenhouse gas emission reductions of up to 80%.
Neste’s SAF solution was developed following the aviation sector guidance by the Science Based Targets initiative (SBTi), the gold standard for ambitious corporate climate action and reporting. Victor’s private and corporate members can credibly and measurably reduce their greenhouse gas emissions (CO₂e), with a clear chain-of-custody.
Neste MY Sustainable Aviation Fuel is a today solution, reducing greenhouse gas (GHG) emissions by up to 80%* over the fuel’s life cycle compared to fossil jet fuel. It is produced from 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste.
*) Calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology.
Vice President, Communications
Neste: Please contact Neste's media service, tel. +358 800 94025 / firstname.lastname@example.org (weekdays from 8.30 a.m. to 4.00 p.m. EET).
Victor: For all media enquiries contact Harriet Cartwright or Holly Moore at Mercury Communications: email@example.com
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com
Victor is a leading on-demand jet charter platform, enabling flyers to search, compare and book private air travel quickly, efficiently and with confidence. Launched in 2011, the company has rewritten the jet charter rulebook with a fully transparent, subscription-free, globally ‘on-demand’ marketplace which combines smart technology with high-touch customer service. Access to more than 7,000 aircraft via a global network of 200 partner operators means that any private aviation requirement can be expertly fulfilled, with the support of Victor’s specialist services for group travel, corporates, sports, medical, and music & entertainment. Victor is the world’s first carbon negative aviation company. Every Victor flight is 200% carbon offset as a standard, as part of the company’s award-winning approach to climate action. True to the company’s core value of transparency, Victor publishes its CO2 emissions and reduction measures annually, and every Victor charter quote is labelled with its carbon impact, including fuel burn, CO2 emissions, and mitigation, allowing members to make informed decisions to minimise their carbon footprint.