Neste Corporation Press Release 6 February 2019 at 4 pm. (EET)
The Parliament of Finland has today voted in favor of a law for gradually increasing the share of biofuels in road traffic to 30% by 2029. In addition, the Parliament has approved a law for the distribution obligation of bio-based light fuel oil. According to the new law, a share of light fuel oil intended for heating, construction machines and fitted motors will be replaced by bio-based fuel oil starting in 2021.
“Neste shares the Finnish Government’s view that we need a large amount of sustainably produced biofuels in order to reduce climate emissions fast and sufficiently enough in the next decade. We need multiple solutions for reducing emissions: energy efficiency, better traffic planning, more public transportation as well as new technologies such as electric and gas-powered vehicles,” says Ilkka Räsänen, Director, Public Affairs at Neste.
“The advantage of liquid biofuels is that they are already available on a large scale today. Biofuels produced from waste and residues, such as Neste MY Renewable Diesel, reduce greenhouse gas emissions by up to 90% in comparison to fossil fuels. Liquid biofuels are fully compatible with the existing infrastructure so they can be used in the existing car pool” Räsänen continues.
The new law is an important step towards lower-emission transport to which Neste as a company is fully committed. The obligation is well aligned with the targets already set in Sweden and Norway and it brings Finland to the same ambitious level with its Western neighbours.
Director, Corporate Communications and Brand Marketing
More information: Ilkka Räsänen, Director, Public Affairs, Neste, tel. 050 458 5123, ilkka.j.rasanen(@)neste.com
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 2018, Neste's revenue stood at EUR 14.9 billion. In 2019, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com