Neste to sign the Business Ambition for 1.5°C Commitment Letter
Neste has two existing and ambitious climate commitments: reaching carbon neutral production (Scope 1 & 2) by 2035 and helping its customers reduce their greenhouse gas emissions by at least 20 million tons of CO2e annually by 2030. This work is well on track. Neste has now decided to also set a concrete target for Scope 3 emissions to reduce the use phase emission intensity** of sold products by 50% by 2040 compared to 2020 levels.
This target will be achieved through Neste’s transformation towards increasing the share of renewable and circular solutions as well as working with our suppliers and partners to reduce emissions across our value chain.
Neste’s broadened sustainability vision covers climate, biodiversity, human rights, supply chain and raw materials. Neste’s climate commitments show leadership and determination to meet the objectives of the Paris Agreement and Neste will sign the Business Ambition for 1.5°C Commitment Letter. Neste will continue to build on its climate actions so that they are in line with the 1.5°C emission scenarios, the criteria and recommendations of the Science Based Targets initiative (SBTi). The approval process with the SBTi will begin as soon as the sectoral guidance for the Oil and Gas industry is published.
Information Source: Read More
Oilandgaspress.com | Energy, Climate, Renewable, Wind, Biomass, Sustainability, Oil Price, LPG, Solar