Neste Corporation, News, 19 April 2023
Neste welcomes the Italian government’s decision to introduce a mandate for increasing the use of unblended, i.e. “neat”, biofuels to further accelerate greenhouse gas emissions (GHG) reductions in the transport sector. While the use of such renewable fuels is not new in Italy, their use as neat, i.e. without being blended with fossil fuels, comes as a welcomed solution to support an already ambitious decarbonization roadmap when it comes to the transport sector.
Such fuels produced 100% from renewable raw materials for use as such, such as Neste MY Renewable Diesel™, are a ready-to-go solution immediately available to decarbonize the existing fleet of both light-duty and heavy-duty vehicles in Europe and elsewhere, and are an essential piece of the sustainable mobility puzzle.
“The ambition shown by the Italian government in boosting the use and production of fuels produced 100% from renewable raw materials and used without being blended with fossil fuels is a great example of how environmental and industrial policy can be reconciled,” says Peter Zonneveld, Vice President Sales Europe and APAC at Neste. “This change in domestic legislation makes Italy a frontrunner in fighting emissions from the transport sector. In fact, Italy is one of the first countries to introduce such a mandate for these types of fuels, matching the strong pro-renewable fuels stance the Italian government has been taking over the last years in the main international arenas, including the European Union and the G7,” Peter Zonneveld continues.
By using Neste MY Renewable Diesel™, made from 100% renewable raw materials, GHG emissions can be reduced by as much as 75 to 95%* over the life cycle of the fuel compared to fossil diesel. Neste MY Renewable Diesel is fully compatible with all diesel engines and the existing fuel distribution infrastructure. Neste MY Renewable Diesel has a similar chemical composition to fossil diesel, making it a drop-in replacement to it. Neste’s renewable diesel can be used unblended (100% concentration, i.e. “neat”) without the need for any changes in the diesel-powered vehicles or their engines. The use of 100% renewable diesel is widely approved by vehicle and engine manufacturers.
*The GHG emission reduction varies depending on the region-specific legislation that provides the methodology for the calculations (e.g. EU RED II 2018/2001/EU for Europe and US California LCFS for the US), and the raw material mix used to manufacture the product for each market.
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Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com