Reducing greenhouse gas emissions

Global greenhouse gas emissions continue to rise, making the path to limiting warming to 1.5°C increasingly narrow. The urgency of climate action is undeniable. Neste leads the transformation towards a carbon neutral value chain by 2040.

We enable our customers to reduce their greenhouse gas (GHG) emissions by offering renewable and circular products to replace fossil products. Our target is to help our customers reduce their GHG emissions by at least 20 million tons of CO2e annually by 2030. Our strategic initiatives are a key driver to increasing our carbon handprint.

At the same time, we need to reduce our own carbon footprint. We are committed to reducing the GHG emissions from our production (scopes 1 & 2) and reach carbon neutral production by 2035. We are also committed to reducing the use phase emission intensity of sold products and work with our suppliers and partners to reduce the indirect GHG emissions from our entire value chain (scope 3).

Neste leads transformation toward a carbon neutral value chain by 2040

Our vision to lead transformation toward a carbon neutral value chain by 2040

We also continuously identify, analyze, and measure the financial implications including material risks and opportunities of climate change for our business. We are committed to applying the Task Force for Climate-related Financial Disclosures (TCFD) reporting framework.

Scopes 1, 2 & 3

The Scope framework established by GHG Protocol is a tool to assess GHG emissions across the value chain. The framework divides GHG emissions to three different scopes that each have several categories.

Scope 1: Direct emissions (e.g. from production)
Scope 2: Indirect emissions from purchased energy
Scope 3: Other indirect emissions from value chain

Our progress

Use phase GHG emission intensity

The most relevant scope 3 emission category for Neste is the use phase emissions of the products produced and sold by Neste. Use phase emission intensity of sold products (gCO2e/MJ) is an indicator of the GHG emissions from the use of Neste’s products divided by the total amount of energy sold. These are the GHG emissions generated when the products that we sell are used – for fuels, this means combustion. Reducing the use phase emission intensity of sold products indicates how companies in this sector are transforming their product portfolio to have a larger share of renewable and circular products.

Sustainability

Neste partnered with the Exponential Roadmap Initiative

Neste and the Exponential Roadmap Initiative (ERI) started collaboration that aims to align with the criteria of the UN Climate Change High-Level Champion’s Race to Zero. The aim of the collaboration is to reach net-zero greenhouse gas emissions by accelerating climate action in the business and its global value chains. In 2024 ERI supported Neste with advice on identifying and closing key gaps in meeting the criteria for becoming a member of ERI and the Race to Zero.

Carbon handprint

Carbon footprint

Scope 3 emissions: what are they and how can businesses tackle them?

Since the Paris Agreement, there has been a growing sense of urgency on reducing carbon emissions so that we can limit global warming within safe limits.

Car running on renewable diesel crossing a bridge, with a river flowing below

News and insights

Neste partners with the Exponential Roadmap Initiative

Neste and the Exponential Roadmap Initiative have started collaboration aiming to align with the criteria of the UN Climate Change High-Level Champion’s Race to Zero, the world’s largest coalition of non-state actors to take action on emissions reductions.