Primary Climate Goal
Neste's target annual Scope 1 + 2 emissions for 2030 should be equal to 1,703 Kt = 50% * 3,405 Kt, according to the company's stated climate goal.
In order to achieve this goal, Neste would need to reduce its emissions at least by -118 Kt per annum over the period from 2021 to 2030:
-118 Kt = ( 1,703 Kt - 2,885 Kt ) / (2030 - 2020)
This translates into a -4.1% reduction in 2021.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
Neste aims to reduce Scope 1 + 2 by 50% by 2030 from a base year 2019
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
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 (
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.