08 March 2016

Emission reductions from renewable fuel of Neste corresponds to greenhouse gas emissions of about 1.3 million cars

Published in Releases and news

Neste Corporation
Press Release
8 March 2016 at 10 am. (EET)

Emission reductions from renewable fuel of Neste corresponds to greenhouse gas emissions of about 1.3 million cars

Neste's record-breaking year in 2015 was also record-breaking from an environmental excellence viewpoint. Globally, Neste renewable diesel reduced greenhouse gas emissions by about 6.4 million metric tons. This corresponds to the greenhouse gas emissions of about 1.3 million cars, or over 50% of the greenhouse gas emissions of Finnish road traffic. Compared to 2014, the reduction increased by about one million metric tons, especially due to more extensive use of waste and residue raw materials.

"Our vision is to create responsible choices every day, and that really is what we do, as we provide customers and society with solutions for reducing greenhouse gas emissions. We are the world's largest company that produces renewable fuel from waste and residue raw materials, and our goal is to further increase their use because they result in the highest greenhouse gas emission reductions", says Kaisa Hietala, Executive Vice President, Renewable Products at Neste.

The amount of waste and residue used in Neste renewable fuel refining increased to almost 2 million metric tons in 2015. They were used for refining almost 2 billion liters of Neste Renewable Diesel, which is enough to power about 2 million cars for 12 months if used as 100% blend.

Using Neste Renewable Diesel results in 40-90% lower greenhouse gas emissions compared to fossil diesel. Using waste and residues as raw material the greenhouse gas emissions can be up to 90% lower than those of fossil diesel.

In practice, Neste is capable of refining renewable diesel from almost any fat-containing raw material. Suitable waste and residues are created as the by-products of the food and vegetable oil industry, for example. Neste has substantially increased its waste and residue use in recent years. In 2015, they accounted for 68% of the raw materials of renewable diesel produced by Neste. The share of crude palm oil has decreased to 31%.

Waste, residue and research are the paths to meeting the emission reduction goal for 2017

The goal of Neste is to annually reduce greenhouse gas emissions by a total of 7 million metric tons with renewable fuels by 2017.

The goal will be met by sales growth in renewable fuels and by increasing the use of waste and residue raw materials. Utilizing fat-containing waste of an increasingly lower quality is a main priority for research conducted by Neste. Neste also performs research to find totally new raw materials for renewable fuel production, such as wood-based raw material and algal oil. About 1,000 of Neste's 5,000 employees work with R&D and engineering.

Neste Corporation
 
Kaisa Lipponen
Director, Corporate Communications

More information: Kaisa Hietala, Executive Vice President, Renewable Products Business Area, tel. +358 50 458 4128

Neste in brief

Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. We are the world's leading producer of renewable diesel, and our annual production capacity is more than 2 million tons. We also are the world's largest company providing renewable fuel from waste and residues. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2015 amounted to approximately EUR 11 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More information: neste.com/en