Sustainability agenda / Policies and principles / Human rights / Climate / Sustainable sourcing
Traceability and sustainability of supply chain is one of our strategic development areas and we are committed to continuously improving our performance. We operate only with suppliers and partners who can demonstrate sustainable operations.
Sustainability of renewable fuels
NEOT sources renewable fuels globally. We ensure that the renewable fuels we supply are traceable and fully compatible with the required regulations in the markets where we operate. We source renewable fuels only from suppliers that comply with official EU sustainability criteria; either approved EU voluntary schemes, such as ISCC (International Sustainability & Carbon Certification), or nationally accepted sustainability schemes. Sustainability schemes verify compliance with the EU’s biofuels sustainability criteria and they include a third-party audit process.
Read more about EU’s sustainability criteria for biofuels.
NEOT’s own operations are also certified according to ISCC EU, the Finnish National scheme, Norwegian authorities’ requirements – all audited annually – and the Swedish national scheme which is audited upon request. We ensure that our contracts regarding renewable fuels take into consideration all necessary sustainability requirements.
Origin of fossil-based fuels
NEOT sources majority of its fossil-based oil products from various refineries located in the Baltic Sea region, mainly in Finland, Sweden, Denmark, and Norway. Our most important source of supply is St1’s oil refinery in Gothenburg. The refinery also acts as a blending hub for NEOT’s operations. It is not yet possible to demonstrate traceability of the crude oil supply chain at the same level as with renewable fuels.
85 % of the renewable fuels supplied by NEOT in 2022 were produced from waste and residues.
We apply the following principles to ensure sustainable fuel procurement:
We source renewable fuels only from suppliers who fulfil the required sustainability criteria.
We know the origin of our feedstocks and renewable fuels we use.
We ensure that our contracts take into consideration relevant sustainability aspects.
We make sure the sustainability criteria is fulfilled and we also perform our own monitoring and audits.