Neste Oil Corporation
27 November at 3.00 p.m (EET)
Neste Oil awarded the world`s first RSPO-RED certificate
Neste Oil is the world`s first company to be awarded an RSPO-RED Supply Chain certificate under the Roundtable on Sustainable Palm Oil`s (RSPO) new, more demanding certification system. The certificate covers the production of NExBTL renewable diesel at Neste Oil`s refineries in Porvoo, Rotterdam, and Singapore.
The RSPO`s new RSPO-RED overall certification system calculates greenhouse gas emissions released over the entire life cycle of a product, in line with the EU`s Renewable Energy Directive (RED). Thanks to the certificate, Neste Oil will be able to offer its European customers NExBTL renewable diesel produced from RSPO-RED-certified palm oil.
"We commend Neste Oil`s efforts in obtaining their RSPO-RED Supply Chain Certification. They are the first in the world to do so and we expect many others to soon follow their lead", says Darrel Webber, Secretary General of RSPO "This is not only a significant moment for Neste Oil but for RSPO as well. It marks the entry of RSPO into the biodiesel industry, especially in the European Union," he says.
Neste Oil has been a member of the RSPO since 2006 and requires all its palm oil suppliers to be members of the organization and commit themselves to strict sustainability requirements. Neste Oil only buys certified palm oil that has been produced sustainably. Producing palm in a sustainable way protects biodiversity and carbon reserves, and prevents the destruction of rainforest and the creation of plantations in sensitive areas, such as wetlands that sequester large amounts of carbon. Sustainable production methods also protect human rights and the rights of native populations.
Palm oil is one of the many feedstocks that Neste Oil uses to produce NExBTL renewable diesel. Production currently uses more than 10 different feedstocks, including vegetable oil and various waste and residue inputs. Around half of the renewable inputs used by Neste Oil today comprise waste and residues, while sustainably produced palm oil makes up the other half.
Neste Oil Corporation
Director, Corporate Communications
Further information: Pekka Tuovinen, Director, Sustainability and Supplier Compliance, tel. +358 (0)10 458 4516
Read more about sustainability at Neste Oil from the Annual Report.
Photos for media use attached.
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world`s leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world`s most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com
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Source: Neste Oil Oyj via GlobeNewswire