02 June 2017 Releases and news

Neste: The US withdrawal from the Paris Agreement is unfortunate

Neste Corporation
Press release
2 June 2017 at 9 am (EET)

Neste: The US withdrawal from the Paris Agreement is unfortunate

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The US withdrawal from the Paris Climate Agreement is a saddening turn for the international battle against climate change. However, the exit of the world's second largest emitter of greenhouse gases does not signal the downfall of the Agreement, which still has extremely strong international support. Of the 197 countries that signed the Paris Agreement, 147 have already ratified it.

The United States has not made any changes to its own federal legislation on renewable fuels (RFS, Renewable Fuel Standard). Based on this standard, the United States' Environmental Protection Agency (EPA) has set increasing obligations for renewable fuels for 2017 and 2018. The State of California's Low Carbon Fuel Standard also remains in force.

"The fight against climate change will continue, and Neste's renewable products support states, cities and businesses in the US in their ambitious targets for reducing emissions," says Executive Vice President of Renewable Products at Neste Kaisa Hietala.

Neste MY Renewable Diesel can reduce carbon dioxide emissions by as much as 90% compared to conventional fossil diesel. The company's global operating model enables optimized sales between various markets. In 2016, approximately 70% of the sales of Neste's renewable fuels is to Europe, and the remainder is to North America.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications

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

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