Neste Corporation, News, 21 December 2023
Neste welcomes the French government and Senate’s decision to increase the share of renewable energy within the overall energy consumption of the transport sector. This decision will pave the way for important steps forward in the efforts to combat climate change.
In January 2024, the required minimum share of renewable energy will increase from 8.6% to 9.2% to further accelerate greenhouse gas emission (GHG) reductions in the transport sector. This increase comes as a welcomed solution to support the transport sector’s decarbonization roadmap in France and is in line with the EU's revised binding targets for renewable energy. By 2030, 29% of the energy consumption in the transport sector of all Member States will have to come from renewable sources, or achieve a 14.5% reduction in the sector’s greenhouse gas intensity through the use of renewables.
“The ambition shown by the French government in increasing the required share of renewable energy in the transport sector in France is a great example of how environmental and industrial policies can be reconciled,” says Katja Wodjereck, Executive Vice President, Renewable Products at Neste. “In France, transportation is one of the largest sources of greenhouse gas emissions, accounting for more than 30% of all such emissions. For France to reach carbon neutrality by 2050, all solutions are needed to reduce the emissions,” Katja Wodjereck continues.
Neste's commitment to reduce the transport sector’s emissions was illustrated in November with the signing of agreements with two fuel distributors to sell Neste MY Renewable Diesel in the French market. Fuels such as Neste MY Renewable Diesel™, produced from 100% renewable raw materials, are a ready-to-go solution for emission reductions. They are widely available and their use helps reduce emissions from the existing fleet of both light-duty and heavy-duty vehicles in Europe and elsewhere. They are an essential piece of the sustainable mobility puzzle.
With Neste MY Renewable Diesel™, greenhouse gas (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.
Further information: Please contact Neste's media service, tel. +358 800 94025 / email@example.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
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