uncategorized ยท 4/12/2016

Neste suspends all raw material purchasing from IOI

Neste Corporation
12 April, 2016

Neste takes the allegations presented against IOI and suspension of Roundtable on Sustainable Palm Oil (RSPO) certification for the IOI Group seriously, and has decided to suspend all raw material purchasing from IOI effective immediately. The allegations currently presented refer to non-compliance with RSPO standards, but also with Neste's Sustainability Principles for Biofuels, as well as the company's No-Deforestation and Responsible Sourcing Guidelines for Renewable Feedstock.

Since the grievance process started, Neste has cooperated with RSPO, several NGOs, third party auditors, IOI, and many other palm oil users to get a clear understanding of the situation. Neste has requested IOI to submit a detailed action plan consisting of a timeline to rectify the issues related to the RSPO suspension. Neste supports IOI in their work with all measures available.

Suspension does not affect Neste's ability to produce renewable products

The current suspension of procurement from IOI does not affect Neste's ability to produce high-quality renewable products for its customers worldwide as IOI is only one of Neste's suppliers. Neste is able to use over 10 different renewable raw materials in refining, and focuses primarily on utilizing waste and residues. Waste and residues accounted already for 68% of the company's use of renewable raw materials in 2015. The company puts great effort in expanding the raw material portfolio even further.

Further information:

Kaisa Hietala, Executive Vice President, Renewable Products, tel. +358 10 458 4128
Simo Honkanen, SVP, Sustainability and Public Affairs, tel. +358 10 458 4170