Neste Oil again included in The Global 100 as one of the world’s most sustainable companies
Wednesday, January 22, 2014
Neste Oil has been ranked the world’s sixth most sustainable company in The Global 100 for 2014. This is the eighth time in succession that Neste Oil has been selected for inclusion in this list of the world’s 100 most sustainable companies. Last year, Neste Oil was ranked fourth in the list.
Top place in The Global 100 for 2014 went to Westpac Banking Corporation of Australia. In addition to Neste Oil, two other Finnish companies were included: Outotec Oyj and Kesko Oyj.
“We are extremely proud of our long-term success in being included in The Global 100,” says Neste Oil’s President & CEO, Matti Lievonen. “Sustainability is a central component of our strategy and integral to all our operations. As part of our cleaner traffic strategy, we have invested close to EUR 1.5 billion in our cleantech business over the last five years, and the NExBTL renewable diesel that we have developed is an excellent tool in helping combat climate change.”
Neste Oil achieved some major milestones in the sustainability area in 2013. These included achieving its target of only using certified palm oil as an input for producing renewable diesel, for example, and launching a collaborative effort with The Forest Trust (TFT), a non-profit organization focused on preventing deforestation, to promote sustainable palm oil production. Neste Oil also published its No-Deforestation Guidelines.
Extending Neste Oil’s feedstock base is one of the cornerstones of the company’s strategy, and the majority of Neste Oil’s R&D expenditure is devoted to research into renewable inputs. Neste Oil is contributing to resource efficiency by using significant amounts of waste and residues in its renewable diesel production. Waste and residues, in fact, currently account for over half of the renewable inputs that Neste Oil uses today.
The Global 100 list is produced by Corporate Knights, an independent consultancy company, and is based on an analysis of around 4,000 listed companies across a range of industries worldwide. These are reviewed against a range of indicators covering areas such as greenhouse gas emissions, energy and water consumption, and the amount of waste they generate in relation to the financial benefit they produce. The review process also covers safety performance, remuneration, leadership, equality, commitment to R&D, and the taxes they pay.
Read Neste Oil’s No-Deforestation Guidelines.
For more information on Neste Oil’s sustainability visit the company’s website.