Neste Oil selected for two Dow Jones sustainability indices
Neste Oil has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World), which lists around 300 companies worldwide, for the eighth year in succession. It has also been included, for the first time, in the Dow Jones Sustainability Europe Index, which lists 154 European companies.
Companies selected for these respected indices are seen as representing the best in their fields and are expected to demonstrate a strong commitment to sustainability in the areas of financial, social, and environmental accountability, and to continuously improve their operations. The selection process is managed by Swiss-based SAM Sustainable Asset Management AG, based on a wide-ranging set of sustainability-related criteria.
Neste Oil received particular praise in this year’s review for its environmental policy and environmental management, and for how it addresses water-related risks. Neste Oil’s social reporting was also rated as particularly successful.
“It is very positive to see the day-to-day work we do in the sustainability area receive recognition like this,” says Simo Honkanen, Neste Oil’s Senior Vice President, Sustainability and Public Affairs. “It encourages us to continue developing our operations. While our work is not finished, we know that we are on the right road.”
Neste Oil’s steps towards greater sustainability
Waste and residues account for over 60% of the renewable inputs Neste Oil uses today. The company ensures the sustainability of its feedstock supply chain by sourcing inputs only from suppliers that meet strict sustainability criteria and are committed to them, and by using external, impartial organizations to audit its suppliers. 100% of the crude palm oil Neste Oil uses is certified.
Neste Oil began working with The Forest Trust (TFT), a non-profit organization focused on preventing deforestation, in 2013. As part of collaboration between the two organizations, TFT reviews the various stages of Neste Oil’s supply chain, while Neste Oil has committed itself to identifying concrete ways of helping prevent deforestation together with palm oil producers and other stakeholders. Neste Oil has also continued to move forward in how it reports its social sustainability, and recently published its first voluntary tax footprint data, covering 2013.