Neste launches its Neste Impact solution for businesses to reduce their aviation emissions with sustainable aviation fuel
Neste Corporation, Press Release, 4 March 2024 at 1 p.m. (EET)
The press release was updated 4 March 2024 at 5:15 p.m. (EET)**
- Neste Impact offers businesses an easy solution to reduce their aviation emissions by purchasing sustainable aviation fuel (SAF)
- The solution is aligned with the Science Based Targets initiative (SBTi), enabling businesses to credibly report achieved emission savings contributing to their sustainability targets
- Neste Impact follows a book and claim approach and ensures the SAF purchased is used in the aviation sector to replace fossil jet fuel. The SAF volumes sold are not used to meet fuel mandates or other similar regulatory requirements on SAF use; instead, they provide additional emission reductions in aviation.
Neste has today launched its new emission reduction solution, Neste Impact, for businesses looking to reduce the carbon footprint of their air travel and transport activities. The solution is based on purchasing Neste MY Sustainable Aviation Fuel™ with which greenhouse gas emissions (GHG) can be reduced by up to 80%* over the life cycle of the fuel compared to using fossil jet fuel.
Neste Impact enables businesses to turn their climate targets into measurable actions to reduce their aviation related emissions. Neste helps a business translate its climate targets into specific, measurable targets to reduce emissions from the business’s air travel and transport. The targeted emissions reduction can be achieved by replacing fossil jet fuel with a corresponding amount of SAF purchased from Neste. Neste ensures the SAF is supplied to a partner airline and the purchased amount is verifiably used to replace fossil fuel. After the SAF has been used, the business receives a third-party verified report, enabling it to credibly report the achieved emissions savings contributing to their sustainability targets.
“The urgency for climate action has never been greater, and businesses are increasingly looking for solutions that help them to reduce their aviation related carbon footprint. However, it can be a challenge to find a credible solution, particularly considering the ever-increasing reporting requirements and public demand for transparency. Neste Impact provides an easy to use solution for verified emission reductions, provided by the world’s leading producer of SAF," said Kristina Öström, Vice President Marketing, Brand and Partnerships from the renewable aviation business at Neste.
Neste Impact is aligned with the Aviation Guidance of the Science Based Targets initiative (SBTi), the gold standard in climate reporting. It follows a book and claim approach, but unlike many other book and claim solutions, Neste ensures the SAF is delivered and used specifically in the aviation sector to replace fossil jet fuel, following the SBTi Aviation Guidance criteria. The related emission reduction achieved is third-party verified and further validated through the ISCC SAF credit registry, enabling businesses to credibly report the achieved reductions towards their science based targets or similar sustainability targets. The SAF volumes sold are not used to meet fuel mandates or other similar regulatory requirements on SAF use; instead, they provide additional emission reductions in aviation.
Sustainable aviation fuel
SAF is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil based jet fuel. It is widely recognized as a key lever to achieve aviation’s emission reduction goals. By purchasing Neste MY Sustainable Aviation Fuel for their business travel or transport, businesses can reduce their aviation-related greenhouse gas (GHG) emissions. Neste’s SAF is made from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste.
*) When used in neat form (i.e. unblended) over the fuel’s life cycle and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
**) The original release stated ‘ISCC SAFc registry’. This has been corrected to ‘ISCC SAF credit registry’.
Neste Corporation
Susanna Sieppi
Vice President, Communications and Brand (act.)
Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.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 2023, Neste's revenue stood at EUR 22.9 billion. Read more: neste.com
