Neste Corporation, News, 9 October 2018 at 10 am. (EET)
The Norwegian government announced on 4th October, that it will introduce a 0.5% biofuel blending mandate for aviation. This is the first time in the world, when biofuel is an essential element in the aviation fuel.
"I want to congratulate Norway - their announcement marks a groundbreaking milestone in sustainable aviation. We need forerunners and bold countries, since European regulation seems to have inadequate support to sustainable growth in aviation. The signal Norway's regulation sends to other countries and markets is important. This will create the necessary predictability for Neste and other producers to boost their production of aviation biofuels," says Kaisa Hietala, Neste's Executive Vice President in Renewable Products business area.
There will be enough capacity on the market to supply the anticipated volumes of renewable jet fuel to Norway. Neste alone has capability of producing the amount Norway will need by 2020, and there will be scaled-up volumes in the following years.
The aviation industry has set ambitious targets to mitigate greenhouse gas emissions from air transportation, including carbon-neutral growth from 2020 and beyond, and a 50 percent reduction of net aviation carbon emissions by 2050. Aviation needs multiple solutions for greenhouse gas emission reduction. Currently, sustainable aviation fuel offers the only viable alternative to fossil liquid fuels for powering commercial aircraft.
Director, Corporate Communications and Brand Marketing
More information: Henrik Erämetsä, Head of Aviation Regulation, Neste, tel. + 358 50 458 4482
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com