Neste satisfied with the European Parliament’s voting on the EU Renewable Energy Directive (RED II)

Neste Corporation Press Release 13 November 2018 at 5.30 pm. (EET)

The European Parliament voted today on 13 November 2018 on the post-2020 EU Renewable Energy Directive (RED II).

“We are pleased with the European Parliament’s voting result. As expected, the Parliament supports the EU-wide overall target of 32% for renewables in 2030, and the binding target of minimum 14% for renewables in transport in 2030. This clearly indicates that the European Union takes climate change seriously, and it has ambition to increase the use of renewable energy in transport,” says Ilkka Räsänen, Director of Public Affairs at Neste.

The use of renewable energy in transport reduces global climate emissions. Neste MY Renewable Diesel™, for example, cuts greenhouse gas emissions by up to 90 % over its lifecycle when compared to conventional fossil diesel. In 2017, Neste MY Renewable Diesel reduced global climate emissions by 8.3 million tonnes. This is equivalent to taking more than 3 million fossil-fuel cars off the roads, more than the amount of cars in the city of London, UK, for example.

“The EU Renewable Energy Directive creates a predictable investment environment for biofuels”, Räsänen continues.

The proposal needs to be formally approved by the Council before final publication. This is expected to take place in the upcoming weeks.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications and Brand Marketing

More information: Ilkka Räsänen, Director, Public Affairs, Neste, tel. +358 50 458 5123

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