Finland's 30% biofuels obligation welcomed by Neste
On February 6, 2019, the Parliament of Finland voted in favour of gradually increasing the share of biofuels in road transportation to 30 percent by 2030. In addition, the Parliament has approved a law for the distribution obligation of bio-based light fuel oil. Oil refiner and renewable fuel producer Neste Oyj welcomes the new ambition.
According to the new law, a share of light fuel oil intended for heating, construction machines, and fitted motors will be replaced by bio-based fuel oil starting in 2021.
Neste shares the Finnish Government’s view that we need a large amount of sustainably produced biofuels in order to reduce climate emissions fast and sufficiently enough in the next decade. We need multiple solutions for reducing emissions: energy efficiency, better traffic planning, more public transportation as well as new technologies such as electric and gas-powered vehicles, commented Ilkka Räsänen, Director, Public Affairs at Neste.
The new law is an important step towards lower-emission transport to which Neste as a company is fully committed. The obligation is well aligned with the targets already set in Sweden and Norway and it brings Finland to the same ambitious level with its Western neighbours.
The advantage of liquid biofuels is that they are already available on a large scale today. Biofuels produced from waste and residues, such as Neste MY Renewable Diesel, reduce greenhouse gas emissions by up to 90 percent in comparison to fossil fuels. Liquid biofuels are fully compatible with the existing infrastructure so they can be used in the existing carpool, said Räsänen.