Economic responsibility

Two people hiking in forest.

By operating profitably and competitively, we make ourselves a profitable investment, a significant employer, a reliable partner and a good corporate citizen.

A financially solid company can address the needs of its stakeholders, take care of its social and environmental obligations, as well as sponsoring activities for the public good.

Comparable return on average capital employed after tax (comparable ROACE) of at least 15% is the key indicator of our financial performance. Another important financial goal is to keep our leverage ratio below 40%.

Value creation

We provide value for society by developing renewable, low emission and circular solutions for the aviation, chemical and plastics industries, transport sector and cities.

Our value creation is based on high-quality products, a global business model for raw material sourcing and product sales, in-depth knowledge of regulations and global customer requirements for both fossil and renewable products, as well as continuous innovation and development of products and solutions. Non-financial assets, for example production, sales, and sourcing expertise are also an essential part of our value creation.

See our value creation map in our Sustainability Report 2022.

Green finance

Neste’s Green Finance Framework is focused on the development and investments in renewable and circular solutions with the purpose of reducing greenhouse gas emissions globally.

Annually, Neste publishes a Green Finance Report which covers the use of proceeds of green financing issued under the Green Finance Framework. The company will allocate the net proceeds of the Green Debt to finance Eligible Assets and Projects that have been evaluated and selected by the Green Finance Committee. The Eligible Assets and Projects must fall within the eco-efficient and circular economy adapted products, production technologies and processes category. Read more about Neste's approach to green finance here.

The Green Finance Report, which covers green financing activities in 2022, demonstrates our commitment to combating climate change and accelerating a shift towards a circular economy.

Green Finance Report

Read more about Neste's approach to green finance

Download PDF
Green finance report 2022 brochure.

One way to view how we transform ourselves and create value is the share of revenue from sustainable solutions; so called clean revenue.

Clean revenue means revenue from all goods and services which have a clear environmental and/or social benefits. Clean investments are investments in such benefits consisting of Clean cash-out investments, Clean R&D and Clean M&A investments. Clean Revenue and Clean Investments include for example revenue from, and investments in, clean transition as well as low-carbon and circular economy solutions.

CLEAN REVENUE IN 2022

MEUR

Renewable Products

9,905

Oil Products (Ethanol blending & co-processing)

104

Total

10,009

CLEAN INVESTMENTS IN 2022

MEUR

Clean R&D

73

Clean cash-out investments Renewable Products

1,536

Clean cash-out investments Oil Products

3

Clean cash-out M&A investments

14

Total

1,626

Economic value retained

DIRECT ECONOMIC VALUE GENERATED AND DISTRIBUTED IN 2022

MEUR

Net sales

25,707

Other income

54

Revenues from financial investments

9

Direct economic value generated

25,770

Operating costs

22,170

Employee wages and benefits

545

Payments to providers of capital

1,220

Payments to government

514

Community investments

2

Direct economic value distributed

24,451

Economic value retained

1,319

We support the functioning of society and the provision of local services in all countries in which we operate by way of paying taxes and creating jobs. The taxes and tax-like fees paid and remitted by Neste were a significant source of income to public administrations also in 2022, when we supported the societies altogether with 4.6 billion euros.

In compliance with Neste’s Human Rights Principle, we encourage social progress and development that is in the public interest, including transparency, accountability and prohibition of tax abuse. We follow and communicate ethical tax principles as stated in the tax footprint

We comply with the applicable local legislation in paying, collecting, remitting, and reporting on taxes and fees. We are committed to following the OECD Transfer Pricing Guidelines, and we pay and collect taxes in countries where our value-added activities are born as a result of our investments and personnel. We promote cooperation with tax and customs authorities.

Our data on payment of taxes in 2022 has been compiled taking into account the points of view of materiality and business reasons. 

Documents to download (PDF):

Neste's tax footprint 2022

Neste's tax footprint 2021

Neste's tax footprint 2020

Neste's tax footprint 2019

Neste's tax footprint 2018

Neste's tax footprint 2017

Neste's tax footprint 2016

Neste's tax footprint 2015

Neste's tax footprint 2014

More information about Neste’s tax strategy

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