In 2019, Neste’s renewable products helped its customers in several geographic markets to reduce greenhouse gas (GHG) emissions by 9.6 million tonnes collectively, an amount equal to the annual carbon footprint of 1.5 million average EU citizens. This according to the company's life cycle emissions and emission reduction calculations, the method of which complies with the EU Renewable Energy Directive (RED).
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, said Peter Vanacker, President and CEO of Neste.
Neste has recently been ranked 3rd on the annual Global 100 list of the world’s most sustainable companies by the independent consultancy Corporate Knights.
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 tonnes of CO2eq annually by 2030. Going from 7.9 million tonnes in 2018 to 9.6 million tonnes of reduced greenhouse gas emissions 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, said Vanacker.
Focus on capacity, innovation, and collaboration
Neste’s aspiration is also to expand its unique global waste and residue raw material platform. In 2019, renewable waste and residue raw materials accounted for 80 percent 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 said.
For over a decade, Neste has steadily increased the volume of its renewable products. Today, the company has the capacity to produce 3 million tonnes of renewable fuels and products annually at its refineries in Finland, the Netherlands, and Singapore.
Of these 3 million tonnes, Neste’s annual renewable jet fuel capacity is currently 100 000 tonnes. Following the Singapore expansion in 2022, Neste will have the total renewable product capacity close to 4.5 million tonnes annually. Of the total capacity in 2022, the capacity share for renewable jet fuel will be over 1 million tonnes annually.
