Neste commits to carbon-neutral production by 2035

In Finland, Neste is committed to reaching carbon-neutral production by 2035. The commitment complements Neste’s other strategic climate commitment of reducing customers’ greenhouse gas emissions by at least 20 million tons annually by 2030.

All aspects of greenhouse gas emissions in Neste’s production will be analyzed. The company has already identified more than 50 different measures and actions to decrease GHG emissions in production. For example, Neste:

Continues to focus on energy efficiency to optimize the use of fuel gas, electricity, hydrogen and steam in its production. The improvements in the turnaround at Porvoo refinery in 2020 will decrease production emissions by more than 100 kt CO2eq annually;

Increases the use of renewable electricity at its production sites. As an example of this, Neste has already agreed to start using wind power in Finland;

Increases the weight of greenhouse gas emissions in the investment calculations and business case evaluation;

Explores new, less emitting production methods, for example utilizing biogas or electrolysis for hydrogen production;

Has started a project for GHG emission reductions at the Porvoo production site, focusing on carbon capture & storage; and

Identifies reliable compensation models for the remaining part which cannot be achieved by emission reductions.