We create value for the society by helping our customers reduce climate emissions. We develop sustainably produced lower-emission solutions for transportation, aviation, and marine uses, as well as renewable and circular solutions for the chemical and plastics industries.
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 latest Sustainability report.
Value creation assessment
A company’s impacts related to environmental, social, and governance (ESG) matters can be both positive and negative, and their magnitude varies across business areas, countries, and based on the products in question. It is crucial for Neste to understand how it creates value in society regarding these aspects. This enables us to evaluate our role in the society, identify and manage risks,and help recognize long-term business opportunities. In addition, understanding the views and expectations of our stakeholders plays a crucial role in the success of our company and the acceptability of our operations. This is why we conduct a materiality assessment every two years.
Through evaluating how Neste creates value, we are able to embed sustainability even further in our everyday business and create tools for decision-making and sustainability management. Internal experts from different areas are engaged in evaluating how Neste creates value with regards to different ESG aspects. The value creation map is approved by the Neste Executive Committee, and it follows the integrated reporting guidelines.