Neste Oil Corporation
14 March at 11 am (EET)
Neste Oil virtually quadrupled its use of certified raw materials in producing renewable fuel
Already 49% of the raw materials that Neste Oil used in 2011 to produce its renewable fuel was certified. This was an increase of 28 percentage points on the figure for 2010, and nearly quadruple in terms of tonnage. Neste Oil aims to increase its usage of certified raw materials a further 10 percentage points on the 2011 figure during 2012.
The fact that 83% of the palm oil used during 2011 was certified represented a significant factor contributing to the overall increase in Neste Oil's usage of certified raw materials; 25% of the palm oil used in 2010 was certified. Neste Oil's target is that 100% of the palm oil it uses will be certified by the end of 2015.
Crude palm oil accounted for 54% of renewable inputs in 2011, while stearin and palm fatty acid distillate (PFAD), both by-products of palm oil production, accounted for 22%. The remainder, 24% of the raw materials used in refining comprised of various vegetable oils and waste fats.
All of the palm oil used by Neste Oil can be traced back to the original oil palm plantation. Neste Oil is the world's leading user of fully traceable RSPO-certified palm oil, although the company accounted for just 1.4% of all the palm oil used worldwide in 2011.
Proportion of waste and sidestreams nearly quadrupled
Material classified as waste, residues, or by-products accounted for 41% of the renewable raw materials used by Neste Oil in 2011. This is nearly quadruple the amount used in 2010 and matched the target that the company had set for the year.
During 2012, Neste Oil's goal is to increase the amount of waste, residues, and by-products that it uses in renewable fuel production by hundreds of thousands of tons compared to 2011. The company's long-term goal is to increase its use of these raw materials - which include e.g. waste animal fat from the food industry, stearin, and PFAD - to 50% of renewable inputs.
"Increasing our use of raw material classified as waste, residues, or by-products to over 40% of our total renewable feedstock is a major achievement," says Matti Lehmus, Neste Oil's Executive Vice President, Oil Products & Renewables. "Producing renewable fuels from residues and waste materials is ecological, as these materials can result in a reduction of as much as 75-90% in fuels' greenhouse gas emissions when compared to fossil fuels."
Neste Oil Corporation
Director, Corporate Communications
Matti Lehmus, Executive Vice President, Oil Products & Renewables, tel. +358 50 458 4072
Neste Oil's Annual Report for 2011 including the Sustainability Report and information about the renewable raw materials that Neste Oil used in 2011 can be found at the Annual Report.
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 15.4 billion in 2011 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for a number of years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com.