Neste Oil Corporation
4 April 2013 at 11 a.m. (EET)
Neste Oil to work closer with its stakeholders to protect the world's rainforests
Neste Oil is to strengthen its commitment to procuring sustainable renewable raw materials by beginning a program of close cooperation with The Forest Trust (TFT), a non-profit organization focused on preventing deforestation. As part of this, Neste Oil has committed itself to working proactively to identify concrete ways of preventing deforestation together with palm oil producers and other stakeholders.
"As one of the world's largest buyers of vegetable oil, we recognize the responsibility we bear for the direct and indirect impact of our operations," says Simo Honkanen, Neste Oil's Senior Vice President, Sustainability and HSEQ. "Our cooperation with TFT is a natural continuation of our earlier efforts aimed at helping prevent deforestation and developing proactive dialogue with our stakeholders. As a major company in the field, we have a unique opportunity to support the development of sustainable practices in the palm oil production area."
Neste Oil's commitment - in the shape of its No Deforestation Guidelines - extends the reach of the company's existing procurement principles covering renewable raw materials. Under these principles, Neste Oil does not buy palm oil from plantations that have felled forest in contravention of legislation or that have been created in high carbon stock areas. As part of the new initiative with TFT, Neste Oil will give TFT access to all the non-commercial data covering its supply chain and TFT will carry out risk-based audits of the various stages of Neste Oil's supply chain. Based on the results of these audits, Neste Oil will be able to solve possible problems more effectively and develop sustainable operating practices together with its raw material suppliers.
"Neste Oil's No Deforestation Guidelines are clear in their commitment to ensuring that its palm oil procurement doesn't drive deforestation, avoids critical peat lands and respects the rights of local communities," says Scott Poynton, TFT's Executive Director. "If a company is going to use palm oil for food, for cosmetics, or for biofuels, it is absolutely critical that it cuts off any link to deforestation. Neste Oil's Guidelines do that and go beyond."
TFT is a Swiss-based, global non-profit organization that helps companies and communities deliver responsible products. Together with international environmental organizations, TFT has helped numerous international companies develop sustainable supply chains.
Neste Oil Corporation
Director, Corporate Communications
Simo Honkanen, Senior Vice President, Sustainability and HSEQ, tel. +358 (50) 458 4170
For more information, see the 2012 Sustainable Report
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. www.nesteoil.com
TFT in brief
Established in 1999, TFT is a global non-profit that helps businesses bring responsible products to market. TFT helps its more than 90 members worldwide build responsible supply chains by identifying and addressing embedded social and environmental issues. Having established a strong record of achievement in timber supply chains, TFT has expanded its work into palm oil, leather and stone. TFT has offices in 15 countries, and an on-the-ground presence in many more. www.tft-forests.org.