24 March 2017 Releases and news

Neste welcomes the high ambition level for renewable fuels in Sweden

Neste Corporation
Press Release
24 March 2017 at 4:30 pm. (EET)

Neste welcomes the high ambition level for renewable fuels in Sweden

Highway interchange

Neste welcomes the Swedish government's draft law proposals for the emission reduction mandate for traffic fuels and the continued tax exemption for high-blend biofuels. Long-term perspective and ambitious targets provide a much needed basis for innovation and investments in the biofuels sector, while ensuring the necessary carbon emission reductions in transportation.

"Sweden is showing worldwide leadership with its ambitious goal to reduce carbon emissions from its transport sector by 70% by 2030. A growing Nordic market for biofuels is emerging, as also Norway and Finland have recently set very high biofuel targets. The large resources of forest-based raw materials in these countries are expected to play a big role in reaching these targets," says Kaisa Hietala, Executive Vice President of Neste's Renewable Products business area.

"We are very proud to have been able to contribute to the positive development in the Swedish fuels markets over the past years by supplying renewable diesel to several fuel companies and our distribution customers through our coastal terminals in Södertälje, Kalmar, Malmö, and Göteborg," Kaisa Hietala says.

Neste is the world's largest producer of high-quality renewable diesel. In 2016, various wastes and residues accounted for almost 80% of our raw material usage globally. The majority of Neste's annual R&D budget (some 41 million euros) is spent on developing and pilot-testing new raw materials for biofuels. The company has a strong focus on developing cost-efficient technologies to convert forest residues into biofuels, and develop new raw materials such as algae.

Neste Corporation
 
Kaisa Lipponen
Director, Corporate Communications
 
Further information:
Simo Honkanen, Senior Vice President, Sustainability and Public Affairs, tel. +358 10 458 4170, simo.honkanen(@)neste.com
Ilkka Räsänen, Director, Public Affairs, Neste, tel. +358 50 458 5123, ilkka.j.rasanen(@)neste.com

Neste's renewable products in brief
Neste increased the production capacity of its renewable products from 2.4 million tons to 2.6 million tons during 2016. Simultaneously the company increased the share of waste and residues to account for nearly 80% of its raw material use in the refining of renewables. The renewable diesel produced from waste and residues can cut greenhouse gas emission by up to 90% compared to conventional, crude oil based diesel. The aim of the company is to increase the total annual greenhouse gas emission reduction volume to 7 million tons in 2017 with its renewable products.

Read also
Neste included on the Global 100 list of the world's most sustainable companies for the 11th consecutive time
Future raw materials for fuels: poor quality waste fats, algae oil, and waste plastic

Neste in brief
 
Neste (NESTE, Nasdaq Helsinki) creates sustainable choices for the needs of transport, businesses and consumers. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality renewable products and oil products to tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner, whose expertise, R&D and sustainable practices are widely respected.  In 2016, Neste's net sales stood at EUR 11.7 billion, and we were on the Global 100 list of the 100 most sustainable companies in the world. Read more: neste.com/en