In our industry the impacts of climate change are especially tangible. Our most significant climate impact results from the use of the products we supply.
We strive to help our customers to reduce their GHG emissions by offering renewable alternatives to fossil fuels. In addition to the impact resulting from the use of our products, we also work for decreasing environmental impacts from our logistics operations by increasing efficiency and seeking for fuel solutions with lower environmental impact.
We take actively part in the societal and political discussion on climate change and strive to share our expertise to promote as cost-efficient and impactful climate regulation as possible.
Decreasing the emissions from transportation by increasing biofuels is an objective both globally and in the European Union. NEOT supports the increasing use of biofuels but at the same time we recognize that additional ways to reduce carbon from the atmosphere are needed to meet the targets set out in the Paris Agreement. We hope that in the future the legislation concerning climate obligations in the transport sector will support reducing carbon from the atmosphere by e.g. capturing carbon through afforestation projects or restoration projects of swamps and wetlands, in addition to using biofuels.
To be able to increase the ambition level of climate targets, all available actions are needed. We need a binding target for every sector as well as mechanisms that allow operators across all sectors to utilise the most effective ways to curb climate change.
We at NEOT see that creating a marketplace for carbon removal would increase the effectiveness of climate actions as well as increase equality between the sectors. The marketplace would serve as a trading place for carbon; emission mandated companies and other operators could either sell verified carbon reductions (supply) gained from different types of carbon binding projects, e.g. afforestation projects, or on the other hand buy carbon credits (demand) to compensate their emissions.
In the future, companies should be allowed to fulfil their mandate obligations by doing emission reductions as well as buying carbon removal certificates. Carbon removal market would also create established markets for new climate entrepreneurs.
During 2018 and 2019, we have compensated 122 tCO2 of emissions resulting from our business flights by buying CO2 Removal Certificates from Puro, the world’s first marketplace to offer verified CO₂ removals.
In 2019, we helped our customers reduce their GHG emissions with 1.3 million tonnes which equates to the annual emissions of 640,000 passenger cars*.