Neste Sets First Science-based Nature Targets

Neste Corporation had a news announcement on 25 May 2023. The blog section needs to be rewritten using short sentences. Neste Corporation had some news to share. It was announced on 25 May 2023. The specific details of the announcement are not provided.

Neste is part of a special group called the Science Based Targets Network (SBTN). This group is working on a global standard that companies can use to set goals and take action to help the environment. Neste is one of just 17 companies in this special group. They will help test the standard and make sure it works. Their work will be measured and checked too.

Neste gets in the validation group and happy about it. They care for biodiversity in their sustainability vision and it's part of their strategy. Neste creates science-based targets and actions. They will use this pilot to make their own objectives in a trustworthy way. Salla Ahonen, Neste's VP of Sustainability, says this.

SBTN starts the process for companies to give their goals for approval. At first, only a few companies can use the validation process. This is to learn and improve it before everyone can use it.

Nature positive value chain is essential It can create sustainable businesses Businesses that nurture and protect nature They can also help improve our ecosystem Nature positive production is a way forward It can lead to a healthier planet Human beings and nature can coexist We can work together for a better future

Neste wants to make their value chain nature positive by 2040. They want to have a good impact on biodiversity by 2025. By 2035, they want to have no loss of biodiversity.

Our target is to improve biodiversity in all our new activities by 2025 and no net loss by 2035. By 2040, we aim to positively influence biodiversity through the whole value chain.

To help nature, companies should think about how their actions might affect it. They should look at what could go wrong and what opportunities there are. Companies need to make a plan that includes nature. By using careful measurements, they can improve how they work with nature. Niina Niemelä, who works at Neste as a Sustainability Manager, gives this advice.

We look at how our business affects biodiversity. Then we find the places where we can make the biggest difference. We try out new ways of measuring biodiversity. This helps us decide where to invest our money. Niemelä says this.

Neste became part of the Science Based Target Network Corporate Engagement Programme in 2021. The idea is to develop methods and guidance for science-based targets for nature. The science-based targets give companies a clear pathway to competitiveness by using science to define their role in restoring nature. SBTs are objective goals based on the best available science, measurable, actionable, and time-bound that allow actors to align with the Earth's limits and societal sustainability goals.

The Nature positive value chain reduces harm to nature. Negative impacts get compensated. This happens in the direct chain or outside it. No net loss means no harm to biodiversity. The impact on it is zero.

For more info, contact Neste's media service at tel. +358 800 94025 or [email protected]. They're available from 8:30 AM to 4:00 PM EET on weekdays. You can also subscribe to Neste's releases at https://www.neste.com/for-media/releases-and-news/subscribe.

Neste helps fight climate change and promotes circular economy. We make renewable fuels and sustainable materials from waste and innovative sources. Our sustainable aviation fuel and renewable diesel are global leaders. We are developing chemical recycling to tackle plastic waste. Our aim is to reduce customer emissions by 20 million tons annually by 2030 and make our oil refinery in Finland the most sustainable in Europe by 2030. We use liquefied waste plastic and are committed to carbon-neutral production by 2035. We also prioritize biodiversity, human rights, and supply chain sustainability. We are consistently recognized for sustainability and generated revenue of EUR 25.7 billion in 2022. Check us out at neste.com.

This article was published by Neste Corporation on May 25, 2023. They are the only ones responsible for its content. It was distributed to the public on that same day without any changes made to it. The time of distribution was 9:00 a.m. UTC.