Neste Corporation, Press Release, 6 February 2024 at 11 a.m. (EET)
Neste has achieved the Leadership level and A− rating for its climate actions by the global non-profit organization CDP, which annually assesses companies in their environmental transparency and performance on climate change, deforestation and water security. Neste has been included in the Leadership (A or A−) level in the Climate Change assessment for eight consecutive years.
Neste has also received good results in CDP’s Forests and Water Security assessments. Neste achieved an A− rating from palm oil and an A− rating from cattle products in the Forests category. For Water Security, Neste received a B rating. All these results are based on Neste’s sustainability performance in 2022.
“We are very pleased with our acknowledgement in CDP’s assessments. At Neste, we have set ambitious targets for both climate and biodiversity, and we work persistently to achieve them. Being recognized among the most sustainable companies encourages us to continue on our path to provide more sustainable solutions for our customers,” says Carl Nyberg, Executive Vice President, Renewables Supply Chain and Sustainability at Neste.
Neste has disclosed its climate change prevention measures for the past 17 years in CDP, which assesses corporate measures to combat climate risks and how companies take advantage of the business opportunities offered by low-emission products and services. Neste’s ambition is to lead the transformation towards a carbon neutral value chain by 2040 with ambitious climate commitments.
CDP’s Forests assessment analyzes companies’ ability to manage and measure forest-related risks and opportunities, transparency and their commitment to actively restore forests and ecosystems. Neste discloses its forest footprint as part of the CDP program. The Water Security category not only measures companies’ water management but also their strategic response to water risks. Neste uses water efficiently and monitors its water consumption aiming to minimize it wherever possible.
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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. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has 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