24 October 2017 at 4 pm (EET)
Neste among the most sustainable companies in CDP's Climate, Forests and Water programs
Neste became the only energy company to reach the Leadership-class in three Climate Disclosure Project (CDP) programs: CDPs Climate, CDP Forests, and CDP Water. Neste's performance regarding climate and water issues, as well as the company's deforestation risk management were all included in the top performers' A- lists, published today by CDP. Altogether only 16 companies in the world reached Leadership-class in all these three areas, although nearly 2,500 companies around the world were evaluated.
Neste keeps up its strong performance in CDP Climate program
Among CDP's programs, the most important for Neste is the CDP Climate. It focuses on assessing corporate measures to combat climate risks and take advantage of the business opportunities offered by low-carbon products and services. Neste has disclosed its climate change prevention measures as part of the CDP program for the past 11 years. In the appraisal released by CDP today, Neste made it onto the CDP Climate program's second-best A- list, among the top-performers in this area. This rating is based on Neste's performance in areas related to climate.
"We are very pleased with our ranking in CDP Climate program. Our key strategic task is to provide customers with low-carbon products and solutions that reduce emissions effectively due to the fact that they are produced primarily from waste and residues," explains Pekka Tuovinen, Neste's Senior Advisor for sustainability. "The more efficiently we operate, and the more we can reduce the climate emissions of our own supply chains, the greater will be the climate benefits of the products and solutions we offer."
In 2016, Neste's renewable products reduced greenhouse gas emissions globally by a total of 6.7 million tons, which corresponds to removing 2.4 million passenger cars from the roads permanently. The target that Neste has set for itself for 2017 is to reduce greenhouse gas emissions by 7 million tons, and within three to five years to reach a reduction of 9 million tons.
One of the top performers in CDP Forests program
Neste continues to be the only energy sector company that transparently discloses its forest footprint as part of the globally renowned CDP Forests program.
As with previous years, Neste's risks related to deforestation mainly arise from its use of crude palm oil, although the company already refines its renewable products primarily from waste and residues. Crude palm oil accounts for less than 20 percent of the renewable raw materials the company uses.
This year Neste's deforestation risk management efforts were evaluated as belonging to the leading performers' Leadership-class and A- list in the CDP Forests program. Neste is committed to preventing deforestation in its own supply chain, and requires similar action from all its raw material suppliers. What is essential is that Neste knows the origin of all the crude palm oil it uses, down to the individual plantations. The palm oil Neste uses has been fully traced since 2007, and has been 100-percent sustainability-certified since 2013. Neste is currently working on procedures for improving the traceability of various kinds of processing residues used as raw materials to a degree that clearly surpasses the regulatory requirements.
Neste succeeded as a newcomer to CDP Water program
This year was the first time Neste participated in the CDP Water program. To participate in this program, companies must comprehensively disclose the measures they implement for responsible water use and water risk management. Neste reached the top performers A- list also in this category. In addition to its own water use, the company has studied the water use and water-related risks of renewable raw materials in their supply chains, e.g. in the cultivation. Within the energy sector, Neste is among the six most sustainably operating global companies with regards to water sustainability.
"Water availability is a growing risk for businesses worldwide, but it can also be an opportunity. Water is an integral part of our operating environment, and our refineries have the expertise for effective and efficient water recycling and use," says researcher Asta Soininen from Neste. "We participate in the development of water footprint indicators, and in management of local water risks, both in our own operations and in our supply chain. We have been carrying out water footprint calculations for our refineries and products since the 1990s. In addition to water use, we also disclose our measures for protecting waterways and groundwater."
Director, Corporate Communications
Pekka Tuovinen, Senior Advisor, Sustainability, tel. +358 10 458 4516, pekka.tuovinen(at)neste.com
CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts and the development of a sustainable economy.
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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