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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.
Clean revenue and clean investments
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|
|Oil Products (Ethanol blending & co-processing)||104|
|CLEAN INVESTMENTS IN 2022||MEUR|
|Clean cash-out investments Renewable Products||1,536|
|Clean cash-out investments Oil Products||3|
|Clean cash-out M&A investments||14|
Economic value retained
|DIRECT ECONOMIC VALUE GENERATED AND DISTRIBUTED IN 2022||MEUR|
|Revenues from financial investments||9|
|Direct economic value generated||25,770|
|Employee wages and benefits||545|
|Payments to providers of capital||1,220|
|Payments to government||514|
|Direct economic value distributed||24,451|
|Economic value retained||1,319|
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.