Neste Corporation Press Release 9 December 2016 at 3 pm (EET)
Neste's actions to prevent deforestation receive high score and Leadership-status in CDP Forests program 2016
Neste continues to be the only company in the energy sector to transparently report on its forest footprint as part of the globally acknowledged CDP Forests program.
Neste's deforestation risks are primarily related to its use of crude palm oil. CDP Forests program assessed Neste's efforts to manage these risks and gave the company a Leadership status A- (ranging from "A" for leadership to "F" for failing to report). Scoring was undertaken by sustainability solutions provider South Pole Group.
Neste continues to focus heavily on continuously developing the sustainability of its crude palm oil supply chain , despite the fact that crude palm oil represents less than 20% of all renewable raw material volumes that the company uses annually. Neste's portfolio of renewable raw materials consists of over ten different raw materials , primarily wastes and residues.
No-deforestation proceeds; traceability still a major challenge for most
In recent years, many of the largest companies that consume forest-risk commodities have made public commitments to prevent deforestation, or have otherwise set quantified targets for obtaining these commodities from sustainable sources. The most advanced consumer goods companies aim to develop their sourcing in order to become fully traceable and certified by 2020.
With regards to its palm oil sourcing, Neste committed itself to a similar target in 2009, setting 2015 as the target for 100% certification. Neste reached this target in 2013, two years ahead of the set date. Neste had established full traceability of all the palm oil volumes it utilized already in 2007 when the company first started refining its renewable fuels.
Global Forests report states that although a minority (40%) of manufacturers and retailers report that they can trace more than 90% of their consumption across commodities to some extent, only 30% can trace those commodities all the way back to the point of origin.
Neste Corporation Osmo Kammonen SVP, Communications and Brand Marketing Further information: Pekka Tuovinen, Senior Advisor, Sustainability, tel. +358 10 458 4516, pekka.tuovinen(at)neste.com
Read also:
Neste recognized as world leader for corporate action on climate change, reaching the Climate A List of CDP Neste listed in the Dow Jones Sustainability Index already for the 10th time
About CDP Forests
This year 201 companies disclosed data through CDP in response to this investor-backed request for information - a 10% increase since 2015. A full index of companies who provided data on their deforestation risks and risk management measures is available in the CDP's Global Forests Report 2016 . It also lists the 650 companies who failed to disclose deforestation-risk data through CDP this year. All requested companies that responded prior to July 1, 2016 have been scored on their disclosed efforts to address deforestation risks and opportunities.
According to CDP and We Mean Business, the business community could deliver emissions reductions equivalent of 3.2-4.2 billion metric tons of CO 2 by 2030 - equal to 7-9% of global emissions in 2010 - of which 0.5-1.2 billion metric tons would be delivered by eliminating deforestation. https://www.cdp.net/en/forests
Neste in brief Neste (NESTE, Nasdaq Helsinki) creates sustainable choices for the needs of transport, businesses and consumers. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality renewable products and oil products to tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner, whose expertise, R&D and sustainable practices are widely respected. In 2015, Neste's net sales stood at EUR 11 billion, and we were on the Global 100 list of the 100 most sustainable companies in the world. Read more: neste.com/en
