Monday 23 April 2018

Neste Oil lauds EU biofuel criteria

Paris, January 24, 2008

Neste Oil has welcomed the transport biofuels targets and the strict environmental sustainability criteria for biofuels proposed by the European Commission.

The company agreed that no feedstocks should be permitted if obtained from high-biodiversity land (forest with no significant human intervention) or land with high carbon stock (e.g tropical wetlands).

"Neste Oil’s own NExBTL renewable diesel will conform to the sustainability criteria proposed by the commission. It is the world’s cleanest diesel and has the potential to use a wide variety of feedstock, said Risto Rinne, president and CEO of Neste Oil Corporation.

Neste Oil continues to develop its next generation fuel technology that can also use alternative non-edible feedstocks such as wood chip, he added.

“We believe that high standards of sustainability are essential to the long-term success of the renewable fuels industry. Renewable fuels made from sustainable feedstocks can make an important contribution to reducing transport CO2 emissions,” Rinne said.

He urged bio-feedstock producers, producing countries and users to work towards enforceable rules that simply make unsustainable biofuels production bad business.

"Sustainability should create the basis for profitable business operations in biofuels. These ideas should be built into legislation. The European Commission’s proposal is a positive move towards this direction,” he added.

He said Neste Oil was committed to continue working with a wide group of stakeholders in order to ensure sustainability practices and standards over the entire life cycle of NExBTL renewable diesel production.-TradeArabia News Service

Tags: stocks | EU | biofuel | Neste Oil | commision | criteria |

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