Neste Corporation, Press Release, 29 September 2021 at 10 a.m. (EET)
TripActions and Reed & Mackay, the fastest-growing travel and spend management group and Neste, the world’s leading sustainable aviation fuel producer, today announced a groundbreaking global partnership to offer Neste MY Sustainable Aviation Fuel™ to all TripActions Group customers. The agreement marks the first time that a corporate travel management company is able to provide customers with the option to buy sustainable aviation fuel (SAF) at scale and reduce the environmental impact of their business travel.
TripActions and Reed & Mackay aim to operate at the forefront of corporate travel sustainability — becoming the world’s first travel management company group to enable customers to purchase Sustainable Aviation Fuel (SAF) directly from the world’s largest producer and then supply it to the airlines on which they fly. In partnering with Neste, TripActions and Reed & Mackay will enable customers to reduce their carbon footprint while driving investment in this important sector.
“As a group, TripActions strongly believes in supporting the sustainability efforts of our customers,” says Ariel Cohen, TripActions Co-founder and CEO. “SAF has emerged as a promising lower-emission alternative to fossil fuel and as an innovation leader, TripActions is proud to help increase its availability to our customers in support of their science-based targets.”
“Business travel is resuming again, making it more urgent than ever for companies to minimize their climate impact,” says Thorsten Lange, Executive Vice President of Renewable Aviation at Neste. “Purchasing Neste MY Sustainable Aviation Fuel does exactly this. I hope that this new agreement with our partner TripActions will encourage many companies around the world to follow. To combat climate change, we must act now.”
The TripActions Group-Neste partnership will facilitate corporate sustainability efforts, such as the Science-Based Targets initiative (SBTi) guidance for the aviation sector, which recognizes SAF as a solution for corporate customers to meet emissions targets for business travel through a direct purchase of SAF from a fuel producer or an airline.
Neste MY Sustainable Aviation Fuel is made from sustainably sourced renewable waste and residue raw materials. In its neat form and over the lifecycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%* as compared to fossil jet fuel use. The fuel enables significant reductions in flying-related emissions, giving businesses an opportunity to contribute to reportable emission reductions with Science-Based Targets (SBTs).
*) Calculated with established life cycle assessment LCA methodologies, including EU RED and CORSIA.
Vice President, Communications
Further information: Please contact Neste’s media service, tel. +358 50 458 5076 / firstname.lastname@example.org (weekdays from 8.30 a.m. to 4.00 p.m. EET).
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products. Read more: neste.com
Fast becoming the default for corporate travel and expenses, TripActions is the leading, cloud-based T&E platform that combines industry-leading tech with best-in-class travel agency service. Trusted by more than 5,000 companies globally, TripActions empowers organizations with real-time data to make business decisions and provides flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money. Learn more at tripactions.com.
About Reed & Mackay
Reed & Mackay delivers corporate travel and event solutions, helping businesses to connect effortlessly across the globe. Established as a family business nearly 60 years ago, today, Reed & Mackay is recognised as the global leader for delivery of extraordinary service in the travel and events arena. Born from close working relationships within the financial, legal and insurance sectors, Reed & Mackay combines inspired service with state-of-the-art technology to create a level of travel and event management like no other and deliver value that you might not believe possible. In May 2021, Reed & Mackay became part of the TripActions Group and continues to operate as a standalone brand.