Neste satisfied with the preliminary agreement on EU Renewable Energy Directive (RED II)

Neste Corporation Press Release 14 June 2018 at 3 pm. (EET)

The trialogue negotiations between the European Council, the European Parliament and the European Commission on the post-2020 EU Renewable Energy Directive (RED II) took place in Strasbourg on 13 June.

“We are pleased with the agreement on the EU-wide overall target of 32% for renewables in 2030, and the target of 14% for renewables in transport in 2030. This shows that the European Union takes climate change seriously, and its ambition to use renewable energy is growing. Based on the information we have, it seems that the current broad raw material base, including waste and residues and sustainable vegetable oils, as raw materials for producing renewable fuels is maintained,” says Ilkka Räsänen, Director of Public Affairs at Neste.

The use of renewable energy in transport reduces global climate emissions. Neste MY Renewable Diesel™, for example, cuts greenhouse gas emissions by up to 90 % over its lifecycle when compared to conventional fossil diesel.

“We also welcome the support for aviation biofuels as emissions of aviation are growing  and sustainable aviation biofuels, like Neste MY Renewable Jet Fuel™, are one of the most efficient means of reducing greenhouse gas emissions in aviation industry,” continues Räsänen.

The agreement reached in the trialogue negotiations needs to be approved by the European Parliament and the European Council.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications

Further information: Ikka Räsänen, Director, Public Affairs, Neste, tel. +358 50 458 5123

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing  renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com