DOCSLIB.ORG

Neste Annual Report 2019 | Content 2 2019 in Brief

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Neste Annual Report 2019 | Content 2 2019 in Brief Faster, bolder and together Annual Report 2019 Content 02 03 2019 in brief ................................... 3 Sustainability ............................... 20 Governance ................................. 71 CEO’s review .................................. 4 Sustainability highlights ....................... 21 Corporate Governance Statement 2019 ........ 72 Managing sustainability ....................... 22 Risk management............................. 89 Neste creates value ......................... 25 Neste Remuneration Statement 2019 ........... 93 Neste as a part of society ................... 26 01 Stakeholder engagement ...................... 27 Strategy ..................................... 7 Sustainability KPIs ............................ 31 Our climate impact ............................ 33 04 Innovation .................................... 10 Our businesses ............................... 11 Renewable and recycled raw materials ......... 38 Review by the Board of Directors ......... 105 Key events 2019 .............................. 14 Supplier engagement ......................... 45 Key figures .................................. 123 Key figures 2019 .............................. 16 Environmental management ................... 48 Calculation of key figures ..................... 125 Financial targets .............................. 17 Our people ................................... 52 Information for investors....................... 18 Human rights ............................... 52 Employees and employment ................. 55 Safety ..................................... 58 05 Performance and sustainability Financial statements ...................... 128 reporting in 2019 ............................. 61 Consolidated financial statements ............ 129 Performance in figures ...................... 63 Parent company financial statements .......... 188 Independent Practitioner’s Assurance Report ... 69 Proposal for the distribution of earnings and signing of the Review by the Board of Directors and the Financial Statements ..... 206 Auditor’s Report ............................. 207 Neste Annual Report 2019 | Content 2 2019 in brief 2019 in brief Revenue Neste is in the business of combating climate change. €15,840M We help transport and cities, as well as customers in the aviation, polymers and chemicals sectors make their business Comparable operating profit more sustainable. €1,962M Faster, bolder and together. In 2019 we renewed our strategy and set out on a course to become a global leader in renewable Our dividend proposal and circular solutions. We continued to be the world’s largest for 2020 per share producer of renewable diesel produced from waste and residues, €0.92 + €0.10 * but also ramped up our renewable jet fuel production capacity and built new business around renewable polymers and chemicals. * Extraordinary dividend In addition to these, we explored ways to introduce liquefied waste plastic as a raw material for new plastics and chemicals. Return on average capital employed after tax (ROACE) The year 2019 was full of new achievements and exciting 26.6% announcements. What made it so inspiring? Watch the video to discover more. Investments €890M Our renewable products The share of waste Safe days Average number helped reduce greenhouse and residues in the of personnel Leverage ratio gas emissions renewable raw materials –3.3% 9 . 6 M t 80% 314 5,474 Neste Annual Report 2019 | Year 2019 in brief 3 CEO’s review Faster, bolder, and together 2019 was a year of growth, change and excellent strategy execution for us. We achieved the best ever quarterly financial results in Q4 and posted outstanding results for the whole year. We became a truly international company with hundreds of new employees, new offices, and end-markets all over the world. In addition, we were placed in the top 3 on the Global 100 list of the world’s most sustainable companies again. All this with the best ever process safety results. Our new strategy is called “Faster, Bolder and Together” and our aim is to become a global leader in renewable and circular solutions. This reflects the understanding that there is no time to lose in combating the climate crisis. In order to succeed, we need to act, innovate new solutions and deliver them faster and bolder than ever before. At Neste, we are in a unique position to help our customers with their ambitious emission reduction targets. We have made a promise to help our customers to reduce their climate emissions by 20 million tons annually by 2030. Promising to help our customers reducing their climate emissions is, however, not enough. Therefore we have made a second promise to reduce our own carbon footprint in production ahead of the EU’s climate and energy targets. Neste Annual Report 2019 | CEO’s review 4 We have made a promise to help our customers to reduce their climate In the Renewable Polymers and Chemicals business, we emissions by 20 million tons annually by have partnered with actors like LyondellBasell and Borealis 2030. In addition, we will reduce our own to achieve the first-ever commercial-scale production of bio-based plastics from renewable material. carbon footprint in production ahead All the work we put into operational excellence and effi- of the EU’s climate and energy targets. ciency is absolutely crucial not just for business, but for our entire company: who we are and what we stand for. In 2019, we have been able to increase our EBIT by approximately EUR 33 million through the successful execution of Neste Excellence projects aiming at operational excellence and Platform for change The office in Shanghai will serve our renewable raw material efficiency. In addition, we sold non-strategic offices of Neste Neste is more than just a company. Our purpose of creating sourcing operations for China, and the Melbourne office Engineering Solutions and entered into a strategic partnership a healthier planet for our children is what drives us every day for Australia and New Zealand. New locations support the with Rejlers. We further successfully divested our fuel retail to aim higher. We are ready and willing to take the role of a expanding sourcing of waste and residue raw materials for the business in Russia to PJSC Tatneft. change maker. production of our renewable diesel, renewable jet fuel as well We want to be a platform for change where discussions as other renewable solutions globally. Innovation is in our DNA take place, innovations are made, and solutions are found. This In Singapore, we started the construction of our EUR Approximately 25% of our people are working in Innovation translates into new business opportunities for us and for others 1.4 billion investment and expansion project to produce and Technology. It is safe to say that innovation is key to our as well. Providers of sustainable solutions should think of them- renewable jet fuel and other renewable products. This biggest current and future success: it has brought us to the point selves as collaborators first, and competitors second. ever investment in our history is on track. It will expand our where we are now, and it will take us forward. Our ambition is reflected in our new vision “Leading the annual renewable capacity by up to 1.3 million tons in Singa- Still we need to look further ahead. We need to generate way towards a sustainable future together”, and in our newly pore, and extend our total renewable product capacity close to breakthroughs for future solutions as well, both those that renewed values. I believe we can still solve the climate crisis, 4.5 million tons annually in 2022. could be available in the next 3 to 5 years and those that might but only if we act now – together. We need to collaborate and We have gone into new markets with our renewable and be a reality in 20 years. build partnerships, whether it is with our customers, researchers circular solutions. In road transportation, Neste MY Renewable With this in mind, we have set three business platforms to and academia, or with governments and civil society. Diesel™ is now sold in Finland, Sweden, all the Baltic countries, develop scalable future feedstocks and required technologies, the Netherlands and California and Oregon in the US. looking beyond the present raw material sources. These A truly global company In our Renewable Aviation business, we have moved platforms are lignocellulosic fuels, chemicals, and materials; Last year was a year of growth for Neste in many ways. We from feasibility to execution and ramped up our capacity to scalable feedstocks for aviation fuels including algae and expanded our global reach with new offices in Düsseldorf, produce up to 100,000 tons of renewable jet fuel. With further solid municipal waste; and renewable hydrogen and Amsterdam, Shanghai, and Melbourne, and strengthened our production expansion on the way, we will have the capacity to Power-to-X, utilizing renewable electricity to convert CO2 into presence in Houston and Singapore. The new offices in the produce over 1 million tonnes of renewable jet fuel globally by fuels and chemicals. Netherlands and Germany also serve as global business hubs 2022. In 2019, we also started collaboration with companies As we believe in cooperation and succeeding together, we for the Renewable Aviation and Renewable Polymers and such as Air BP, Lufthansa and KLM to support these industry are actively looking into new partnerships and forms of collab- Chemicals business units, respectively. players in reducing aviation-related emissions.
Load more

Recommended publications
  • Study of Hydrogenation Derived Renewable Diesel As a Renewable Fuel Option in North America
    Study of Hydrogenation Derived Renewable Diesel as a Renewable Fuel Option in North America Final Report Natural Resources Canada 580 Booth Street Ottawa, Ontario K1A 0E4 For additional information, please contact: Natalie Lambert Project Manager, Energy Telephone: 514 562-8651 Email: [email protected] March 30,2012 Experts in environment and natural resource economics ■stHSfesa ■ 825, Raoul-Jobin, Quebec (Quebec) Canada GIN 1S6 1097, St-Alexandre, Suite 201, Montreal (Quebec) Canada H2Z IPS www.ecoressources.com • [email protected] Study of Hydrogenation Derived Renewable Diesel as a Renewable Fuel Option in North America - Final Report Executive Summary As of 2011, 27 national governments and 29 state/province governments have implemented policies that mandate the use of a minimum amount of renewable alternatives to diesel, including Europe, six South American countries, six Asian countries, Canada, the United States, Costa Rica and the Dominican Republic. On June 29, 2011, the government of Canada registered regulations amending the Renewable Fuels Regulations which were then published on July 20, 201 11. These amendments stated that the coming into force date of the 2% requirement of renewable content in diesel and heating oil would be July 1st, 2011. Under the Renewable Fuels Regulations, both ester-based biodiesel and hydrogenation-derived renewable diesel (HDRD) are admissible as renewable content that can be used to meet the requirements of the Regulations. While biodiesel is the most widely available diesel fuel alternative, there has been increasing interest by the regulated parties in using HDRD to meet the requirements, even though HDRD is currently only produced in Europe, Southeast Asia and the United States 23.
    [Show full text]
  • Current Knowledge on Interspecific Hybrid Palm Oils As Food and Food
    foods Review Current Knowledge on Interspecific Hybrid Palm Oils as Food and Food Ingredient Massimo Mozzon , Roberta Foligni * and Cinzia Mannozzi * Department of Agricultural, Food and Environmental Sciences, Università Politecnica delle Marche, Via Brecce Bianche 10, 60131 Ancona, Italy; m.mozzon@staff.univpm.it * Correspondence: r.foligni@staff.univpm.it (R.F.); c.mannozzi@staff.univpm.it (C.M.); Tel.: +39-071-220-4010 (R.F.); +39-071-220-4014 (C.M.) Received: 6 April 2020; Accepted: 10 May 2020; Published: 14 May 2020 Abstract: The consumers’ opinion concerning conventional palm (Elaeis guineensis) oil is negatively affected by environmental and nutritional issues. However, oils extracted from drupes of interspecific hybrids Elaeis oleifera E. guineensis are getting more and more interest, due to their chemical and × nutritional properties. Unsaturated fatty acids (oleic and linoleic) are the most abundant constituents (60%–80% of total fatty acids) of hybrid palm oil (HPO) and are mainly acylated in position sn-2 of the glycerol backbone. Carotenes and tocotrienols are the most interesting components of the unsaponifiable matter, even if their amount in crude oils varies greatly. The Codex Committee on Fats and Oils recently provided HPO the “dignity” of codified fat substance for human consumption and defined the physical and chemical parameters for genuine crude oils. However, only few researches have been conducted to date on the functional and technological properties of HPO, thus limiting its utilization in food industry. Recent studies on the nutritional effects of HPO softened the initial enthusiasm about the “tropical equivalent of olive oil”, suggesting that the overconsumption of HPO in the most-consumed processed foods should be carefully monitored.
    [Show full text]
  • No-Deforestation and Responsible Sourcing Guidelines for Renewable Feedstock
    No-Deforestation and 1 (4) Responsible Sourcing Guidelines Public 4 April 2013 NESTE OIL NO-DEFORESTATION AND RESPONSIBLE SOURCING GUIDELINES FOR RENEWABLE FEEDSTOCK 1 Introduction Neste Oil believes that biofuels are an important contributor in combating climate change and moving to a low-carbon energy mix. We therefore want to ensure that the biofuels we provide to our customers are contributing to a sustainable future and that any negative impacts of production are thoroughly understood and mitigated. As deforestation is seen as one of the most serious problems with the use of biomass, we have developed these guidelines to make sure that our raw materials will not lead, either directly or indirectly, to loss of valuable forests. 2 General principles All of our feedstock sourcing already follows the requirements for sustainability performance as required by the European Union Renewable Energy1 and Fuel Quality Directives2 and by other international regulations relevant for our markets. This provides certain assurances regarding the protection of peatlands, forested areas, and protected areas, as described in annex 1 of these guidelines. We also do not source from areas that were converted from grassland after January 2008, pending the publication of the European Commission’s definition of highly biodiverse grassland. In addition to those requirements and also considering multi-stakeholder initiatives such as RSPO, we will only purchase biofuel or biofuel feedstock from sources that: Are fully traceable back to the point of origin; Are produced in compliance with local laws and regulations; Protect High Conservation Values as defined by the HCV Network3; Support the Free, Prior and Informed Consent4 of indigenous and local communities for activities on their customary lands; Protect High Carbon Stock (HCS) forest areas through an approach which uses various analytical methods such as satellite analysis and fieldwork to distinguish natural forest from degraded lands with only small trees, scrub, or grass remaining.
    [Show full text]
  • Renewable Diesel Fuel
    Renewable Diesel Fuel Robert McCormick and Teresa Alleman July 18, 2016 NREL is a national laboratory of the U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy, operated by the Alliance for Sustainable Energy, LLC. Renewable Diesel Fuel Nomenclature • Renewable diesel goes by many names: o Generic names – Hydrogenated esters and fatty acids (HEFA) diesel – Hydrogenation derived renewable diesel (HDRD) – Green diesel (colloquialism) o Company trademark names – Green Diesel™ (Honeywell/UOP) – NExBTL® (Neste) – SoladieselRD® (Solazyme) – Biofene® (Amyris) – HPR Diesel (Propel branded product) – REG-9000™/RHD • Not the same as biodiesel, may be improperly called second generation biodiesel, paraffinic biodiesel – but it is incorrect and misleading to refer to it as biodiesel 2 RD is a Very Broad Term • Renewable diesel (RD) is essentially any diesel fuel produced from a renewable feedstock that is predominantly hydrocarbon (not oxygenates) and meets the requirements for use in a diesel engine • Today almost all renewable diesel is produced from vegetable oil, animal fat, waste cooking oil, and algal oil o Paraffin/isoparaffin mixture, distribution of chain lengths • One producer ferments sugar to produce a hydrocarbon (Amyris – more economical to sell this hydrocarbon into other markets) o Single molecule isoparaffin product 3 RD and Biodiesel • Biodiesel is solely produced through esterification of fats/oils • RD can be produced through multiple processes o Hydrogenation (hydrotreating) of fats/oils/esters o Fermentation
    [Show full text]
  • Kesko Investor Presentation
    Kesko Investor Presentation September 2017 K Group the Third Biggest Retail Operator in Northern Europe • K Group’s retail sales €12.9bn* • K Group formed by Kesko and 1,088 K-retailer entrepreneurs • Operations in nine countries • 45,000 trading sector professionals, over 30,000 in Finland • Significant social impact in Finland • Kesko shares listed on Nasdaq Helsinki with €4.4 bn market capitalisation and close to 42,000 shareholders (6/2017) *Pro forma rolling 12 mo 6/2017 2 Net Sales and Comparable Operating Profit by Division Net sales* Comparable operating profit* €890 million €31.9 million 8% 10% €4,724 million 40% €10,967 €274.8 52% €5,359 million €98.2 million 32% 58% €178.0 million million million Grocery trade Building and technical trade Car trade *Rolling 12 mo 6/2017 3 Growth Opportunities Supported by Megatrends Global Digital Urbanization, Consumers' Corporate Climate economy revolution single person knowledge responsibility change - international households and power has and strong operators and ageing increased brands challenge local population companies 5 The Core of Kesko’s Strategy is Profitable Growth in Three Strategic Areas Grocery trade Building and technical trade Car trade Retail sales €6.7bn* Retail sales €5.3bn* Retail sales €0.9bn* 1,300 stores in Finland 600 stores in 9 countries VW, Audi, Seat, Porsche and MAN trucks #2 in the Finnish retail market #1 in Northern Europe #1 in Finland #1 in Finnish food service business *Pro forma rolling 12 mo 6/2017 5 Growth Strategy Implementation is Progressing towards
    [Show full text]
  • Move Forward with NEXBTL Renewable Diesel
    Move Forward with Did you know that… NEXBTL renewable diesel As a drop-in biofuel, NEXBTL renewable diesel behaves exactly like fossil diesel. Because of its diesel-like behavior, quality-related blending limitations do not apply to NEXBTL renewable diesel. NEXBTL renewable diesel offers 40–90% CO2 reduction compared to fossil diesel. Neste Corporation Keilaranta 21 Cover image: Shutterstock PO Box 95 FI-00095 Neste, Finland Tel. +358 (0)10 45811 www.neste.com 2015 High performance from NEXBTL renewable diesel “Our experience has been extremely positive in our own fleet. We have experienced zero customer complaints or Premium-quality NEXBTL renewable diesel outperforms both issues.” conventional biodiesel and fossil diesel by a clear margin. Pat O’Keefe, Vice President, Golden Gate Petroleum, US Unlike conventional biodiesel, Neste’s NEXBTL NEXBTL renewable diesel is unique. Proprietary renewable diesel has no blending wall, and therefore hydrotreating technology converts vegetable oil it also offers greater possibilities for meeting biofuel and waste fats into premium-quality fuel. mandates. Therefore, NEXBTL renewable diesel is a pure hydrocarbon with significant performance and emission benefits. Benefits in brief 100% renewable and sustainable Lower operating costs Produced from waste fats, residues and vegetable oils, Other biofuels may increase the need for vehicle classified as hydrotreated vegetable oil (HVO) maintenance, for example through reduced oil change intervals, but with NEXBTL renewable diesel there is no Smaller environmental
    [Show full text]
  • Sustainable Palm Derivatives in Cleaning and Personal Care Products
    Sustainable Palm Derivatives in Cleaning and Personal Care Products A CPET Special Newsletter July 2015 The Purpose of this Special Newsletter This newsletter is meant to provide information and guidance to businesses and government departments on sourcing cleaning products and personal care products made with sustainable palm oil derivatives. It outlines the complexities in the derivatives supply chain, explains why sustainable palm-based derivatives have been difficult to source in the past, and provides a quick guide to sourcing certified derivatives. Introduction to Palm-based Derivative Supply Chain Palm oil and palm kernel oil are complex commodities because of the demand for a large number of fractions and derivatives of the oils. In fact, about 60% of the palm oil and palm kernel oil consumed globally is in the form of derivatives such as olein and stearin.1 The supply chains for these derivatives are multi-layered and have been historically difficult to trace. Although traceability is improving, the derivatives can be challenging to source as sustainable. Oleochemicals, which are produced from the fatty acid distillates that result from the refining process of palm oil and palm kernel oil, are typically used in the production of cleaning products and personal care products. Palm based oleochemicals have a diverse range of applications. In the past decade, many European manufacturers and traders have shifted towards the use of palm-derived oleochemicals (as opposed to petrochemicals or other plant based oleochemicals), due to the increase in the number of plants in Southeast Asia with access to palm feedstocks. The environmental and social repercussions of this shift in usage, and the parallel significant increase in oil palm plantations in Southeast Asia, have been dramatic, leading to deforestation, climate change, habitat loss, and disruptions to local communities.
    [Show full text]
  • Organic & Sustainable Palm
    Organic & Sustainable Palm Oil 680g 36MP shortening 15kg 32MP Shortening 18kg 25MP Olein for Household use /15kg 48MP Stearin for deep frying ORGANIC • DAABON Group has 4 beautiful organic certified palm plantations of total 4500 ha located on the western slopes of the Santa Marta mountain range. • DAABON has vertically integrated the palm oil production from seeder to farming, harvesting, mechanical pressing, physical refinery and finally to end products such as RBD, Stearin, Shortenings, Olein, Kernel oils, Margarine, Soap base and byproducts such as Kernel cake and vegetable residues for compost making at our own facilities. Our products and processes are vertically integrated and fully traceable. TRANSFAT FREE • Due to the extensive hazards posed by animal fat cholesterol and excessive levels of trans fats derived from hydrogenation, organic palm fruit oil is becoming the preferred option of high quality, health conscious food processors. Organic Palm fruit oil does not require hydrogenation as it is solid at room temperature, therefore avoiding harmful trans fatty acids. • There are several uses of palm fruit oil. Among the most common our customers use our products in baking, frying, food mixes, coatings, ice cream and others. SUSTAINABLE • DAABON Group is a member of the Roundtable on Sustainable Palm Oil and a certified grower. • Our refinery, soap factory and oil terminal is RSPO SCCS certified supply chain. • We are one of the only global suppliers of organic and fully identity-preserved palm oil products (RSPO/IP). SOCIAL RESPONSIBILITY – Suppor ng Smallholders Farmers in Northern Colombia have seen much hardship and have had to face many challenges in creating livelihoods over the past decades.
    [Show full text]
  • Kesko Investor Presentation
    Kesko investor presentation June 2017 K Group the Third Biggest Retail Operator in Northern Europe • K Group’s retail sales €13.2bn (pro forma 2016) • K Group formed by Kesko and 1,088 K-retailer entrepreneurs • Operations in nine countries • 45,000 trading sector professionals, over 30,000 in Finland • Significant social impact in Finland • Kesko shares listed on Nasdaq Helsinki with €4.5 bn market capitalisation and close to 42,000 shareholders (5/2017) 2 The Core of Kesko’s Strategy is Profitable Growth in Three Strategic Areas Grocery trade Building and technical trade Car trade Retail sales €6.7bn* Retail sales €5.6bn* Retail sales €0.9bn* 1,400 stores in Finland 700 stores in 9 countries VW, Audi, Seat, Porsche and MAN trucks #2 in the Finnish retail #1 in Northern Europe market #1 in Finland #1 in Finnish food service business *Pro forma 2016 3 Net Sales and Comparable Operating Profit by Division Net sales 2016 Comparable operating profit 2016 €849 million €29.5 million 8% 10% €4,100 million €10,180 €272.9 40% 52% €5,236 million €97.9 million 32% million million 58% €175.9 million Grocery trade Building and technical trade Car trade 4 Global Megatrends Identified to Effectively Anticipate and Respond to Future Challenges and Opportunities Global Digital Urbanization, Consumers' Corporate Climate economy revolution single person knowledge responsibility change - international households and power has and strong operators and ageing increased brands challenge local population companies 5 Growth Strategy Implementation is Progressing
    [Show full text]
  • Reflect Adapt Thrive 1
    SUSTAINABILITY REPORT 2020 Reflect Adapt Thrive 1 About this report At Wilmar International Limited (‘Wilmar’), we are committed to delivering transparency and demonstrating accountability to our stakeholders. For this, sustainability reporting is key. Contents We strive to ensure that our sustainability reporting not only 01 About this report reflects our progress in our sustainability journey, but that it 126 Delivering product excellence 168 Appendix also advances in parallel. Our coverage of information has Board statement 04 increased to now include all of our key business segments 128 Innovation and technology 170 Sustainability governance 10 Summary of progress (see details in Scope and Boundary below). We are also 132 Consumer health and well-being 171 Materiality reporting against the Sustainability Accounting Standards 22 About Wilmar 136 Product marketing and labelling 176 Supporting the United Board (SASB) Standards and the Task Force on Climate- 140 Product quality and safety 26 Our approach to sustainability Nations Sustainable related Financial Disclosures (TCFD) recommendations Development Goals (SDGs) for the first time, in addition to the Global Reporting 32 Our support during the COVID-19 pandemic 180 Base data Initiative (GRI) Standards. 146 Transforming our supply chain 202 External assurance from Ernst & Young LLP This report provides a retrospective view of our sustainability 34 Protecting the environment 148 Responsible sourcing and journey for us to reflect upon, as we continue to identify 206 External assurance supply chain transformation from Control Union Certifications the challenges that we face. Doing this allows us to adapt 36 Biodiversity and conservation our approach, strengthen our effort and drive continuous 208 GRI content index 50 Climate change improvement, so that we can thrive in the long term.
    [Show full text]
  • Neste US, Inc. 3040 Post Oak Blvd, Suite 1700 Houston, Texas 77054 USA
    Statement of Jeremy Baines President, Neste US House Energy and Commerce Committee, Subcommittee on the Environment and Climate Change Hearing on "Building a 100 Percent Clean Economy: Solutions for Planes, Trains and Everything Beyond Automobiles" October 23, 2019 Chairman Tonko, Ranking Member Shimkus and Members of the Subcommittee: My name is Jeremy Baines. I am President of Neste US, and I appreciate the subcommittee's invitation to discuss opportunities to decarbonize the aviation and heavy-duty sectors with drop-in, scalable, renewable, and low carbon liquid transportation fuels. In order to meet science-based greenhouse gas (GHG) reduction targets and reach net-zero emissions by 2050, significant contributions will be needed from low carbon liquid transportation fuels, particularly in long- distance and heavy-duty applications — those other than light-duty automobiles — which cannot reasonably electrify and will rely on liquid fuels for the foreseeable future. As Congress considers pathways to reduce emissions in difficult to decarbonize sectors like aviation, heavy-duty transport, and maritime, it must both maintain and improve existing policies supporting renewable fuels and develop new sector-specific policies to continue to incentivize development of low carbon liquid transportation fuels. Neste is a publicly-traded international fuel manufacturer based in Finland with a significant and growing presence in the United States. We are the world’s largest producer of sustainable, low carbon renewable diesel and jet fuel, with over a billion gallons of capacity today and plans to expand to 1.5 billion gallons by 2022. In 2018, our products helped our heavy-duty on-road customers reduce GHG emissions by 7.9 million tons, and we have a goal of reducing emissions by 20 million tons a year by 2030.
    [Show full text]
  • Navigating Towards Cleaner Maritime Shipping Lessons from the Nordic Region
    CPB Corporate Partnership Board Navigating Towards Cleaner Maritime Shipping Lessons From the Nordic Region Decarbonising Transport Navigating Towards Cleaner Maritime Shipping Lessons From the Nordic Region Decarbonising Transport This report was funded by Nordic Energy Research, the platform for cooperative energy research and policy development under the auspices of the Nordic Council of Ministers. The International Transport Forum The International Transport Forum is an intergovernmental organisation with 62 member countries. It acts as a think tank for transport policy and organises the Annual Summit of transport ministers. ITF is the only global body that covers all transport modes. The ITF is politically autonomous and administratively integrated with the OECD. The ITF works for transport policies that improve peoples’ lives. Our mission is to foster a deeper understanding of the role of transport in economic growth, environmental sustainability and social inclusion and to raise the public profile of transport policy. The ITF organises global dialogue for better transport. We act as a platform for discussion and pre- negotiation of policy issues across all transport modes. We analyse trends, share knowledge and promote exchange among transport decision-makers and civil society. The ITF’s Annual Summit is the world’s largest gathering of transport ministers and the leading global platform for dialogue on transport policy. The Members of the Forum are: Albania, Armenia, Argentina, Australia, Austria, Azerbaijan, Belarus, Belgium,
    [Show full text]