Neste

Neste reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 2,885 Kt (-520 /-15.3% y-o-y). At the same time, carbon intensity increased to 210 t (+18/+10% y-o-y).

Neste's Scope 3 emissions plunged to 35,000 Kt (-13,000 /-27.1% y-o-y). This is a higher rate of decline than over the period since 4Q'19 (-10.6% CAGR).

The company is committed to reducing Scope 1 + 2 by 50% by 2030 from a base year 2019, which translates into the estimated reduction of -118 Kt per annum over the period of FY2021 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Neste aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2035. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.