Neste Oyj: published its first report on green finance

Neste Corporation, press release, June 9, 2022 at 9:30 a.m. (EET)

Neste today released its first Green Finance Report following the establishment of its Green Finance Framework in 2021 to further integrate the company’s sustainability ambitions into its finance.

The Green Finance Report, which covers financing activities in 2021, confirms that sustainability is deeply embedded in Neste’s day-to-day operations and reiterates our ambitious climate commitments.

In March 2021, Neste issued a €500 million 7-year green bond, the first of its kind for Neste, to offer investors the opportunity to support our goal of mitigating climate change globally by reducing greenhouse gas emissions through our renewable and circular solutions. This was followed in 2022 by a €500m green term loan deal.

A portion of the proceeds from the inaugural green bond has been allocated to ongoing investment projects:

  1. Singapore Refinery Renewables Capacity Expansion Project, namely the Singapore expansion project; and
  2. Sustainable Aviation Fuel Optionality (SAF) Project at Rotterdam Refinery

“The expansion of our Singapore refinery is expected to come into service at the end of the first quarter of 2023 and, together with our sustainable aviation fuel option project in Rotterdam, we expect to achieve an SAF production capacity of 1.5 million metric tons per year by the end of 2023. Funding under the Green Finance Framework supports our goal of mitigating climate change, and through an allocation of proceeds from the first green bond to these investment projects, we are well on our way to meeting our climate commitments,” says Mika Rydman, Vice President and Group Treasurer, Neste.

At NesteGreen Finance Report 2021and theGreen financing frameworkare available on our website.

Neste Company

Susanna Sieppi
Vice President, Communications

Further information :

To follow the work within Sustainable Finance and access the Green Finance Framework, Second Opinion, Green Finance Framework Q&A and Third-Party Audit, please visit: https://www.neste.com/investors/credit/green-finance

Neste media department, tel. +358 800 94025 / [email protected] (weekdays from 8:30 a.m. to 4:00 p.m. EET).

Nest in a nutshell

Neste (NESTE, Nasdaq Helsinki) creates solutions to fight climate change and accelerate the transition to a circular economy. We refine waste, residues and innovative feedstocks into renewable fuels and sustainable feedstocks for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and are developing chemical recycling to tackle the challenge of plastic waste. Our goal is to help our customers reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons per year by 2030. Our ambition is to make the oil refinery of Porvoo in Finland the most sustainable refinery in Europe by 2030. We introduce renewable and recycled raw materials such as liquefied plastic waste as refinery raw materials. We are committed to achieving carbon neutral production by 2035 and will reduce the carbon intensity of products sold by 50% by 2040. We have also set high standards for biodiversity, human rights people and supply chain. We have consistently been included in the Dow Jones Sustainability Indexes and the Global 100 list of the world’s most sustainable companies. In 2021, Neste’s turnover amounted to 15.1 billion euros. Read more:neste.com

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