4 reasons why the world needs biofuels

Neste Corporation
News
12 July 2016

1)    Combating climate change
Combating climate change forces the world to seek alternative, low-carbon sources of energy and fuel. Since traffic is one of the largest sources of greenhouse gas, i.e. carbon emissions, substituting fossil fuels with renewable alternatives such as biofuels is an efficient way to reduce these emissions. Biofuels offer a solution to reduce carbon emissions of traffic when other solutions, such as switching to electric vehicles, is not an option due to high vehicle costs or lack of vehicle charging network, for example.

2)    Responding to higher energy consumption
The expected increase in world population to 8 or even 10.5 billion by 2050, combined with significant economic growth in emerging economies will result in substantially increasing energy consumption. To be able to respond to this growing demand, we need to use natural resources more efficiently and increase the use of renewable energy, such as biofuels.

3)    Securing energy supply
Increasing energy demand will pose challenges to security of supply as resources are scattered around the globe. Biofuels help to enhance and safeguard energy security by reducing the world's reliance on fossil energy sources. Biomass is a resource that is more evenly distributed globally.

4)    Making the most of scarce resources
Using waste and residue as raw materials for biofuels is an excellent example of answering to the needs of a circular economy. Reducing the amount of waste and making the most of our valuable natural resources is crucial for our future survival.

Neste in brief

Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. We are the world's leading producer of renewable diesel, and our annual production capacity is more than 2 million tons. We also are the world's largest company providing renewable fuel from waste and residues. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2015 amounted to approximately EUR 11 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More information: neste.com/en