Neste among the 100 most sustainable companies in the world for the 17th consecutive time
Neste Corporation, Press Release, 18 January 2023 at 9.00 a.m. (EET)
Neste has been included in the Corporate Knights 2023 Global 100 Index of the most sustainable companies in the world for the 17th consecutive time. Corporate Knights analyzed 6,720 companies against global industry peers and Neste was one of the companies to make it to the top 100. Neste placed 29th in the index and the first among its industry peers.
Neste has been included in the index for longer than any other energy company in the world. Neste was assessed under the Energy sector with 413 companies and was ranked as the best in the sector.
“It is a great recognition to be among so many other sustainability leaders in this index. We have been making significant progress over the years towards our long-term sustainability commitments, and that work continues. My big thanks go to the Neste team and our partners for all the achievements in 2022,” says Minna Aila, Executive Vice President, Sustainability and Corporate Affairs at Neste.
Neste is committed to reducing its customers’ greenhouse gas emissions every year by at least 20 million tons CO2 equivalent by 2030 and reaching carbon neutral production by 2035. In 2022, Neste launched a strategic study on transitioning its refinery in Porvoo, Finland into a globally leading renewable and circular solutions site and to non-crude oil refining in the mid-2030s.
The Global 100 Index is an annual ranking of corporate sustainability performance compiled by the independent consultancy Corporate Knights. The ranking is based on an assessment of 25 sustainability indicators (KPIs) ranging from environmental performance indicators to sustainable investment and sustainable revenue, resource management, employee management, financial management as well as supplier performance.
Since 2022, Corporate Knights has classified Sustainable Revenues and Sustainable Investments in line with their Corporate Knights Sustainable Economy Taxonomy. The methodology weighs the absolute share of Sustainable Revenues and Sustainable Investments and the performance against peers equally. Previously, the score was based on the performance against peers.
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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