Sustainable sourcing
Efficient and sustainable sourcing is at the core of our business operations. NEOT does not have its own production; instead, we source all our supplied products from reliable partners.
Due to our business model, ensuring the sustainability of the supply chain and developing practices to ensure it, are critical parts of our sustainability work.
Ensuring sustainability compliance
of suppliers
As a buyer of end products, NEOT has limited visibility into the more distant parts of our supply chain, such as feedstock production. Therefore, we continuously strive to develop and improve our practices to ensure our suppliers are committed to responsible operations. Based on the significance of the impacts, our primary focus in this effort is on the supply chains of our fuel suppliers. New suppliers must commit to either NEOT’s ethical principles or their own equivalent principles when starting cooperation.
Ensuring sustainability compliance is an integral part of fuel supplier selection
In addition to commercial factors, evaluating supplier compliance on sustainability is an integral part of our fuel supplier selection process. In the evaluation of supplier sustainability for new suppliers, all suppliers receive a risk classification, based on which necessary actions are determined. The risk classification takes into account factors such as country risk, potential results of media screenings, and the supplier’s existing practices. Currently, our development efforts are focused on strengthening the continuous assessment process for our existing suppliers.
Evaluation of fuel suppliers
1. Pre-screening
Communicating supplier requirements
through NEOT Supplier Expectations
Anti-corruption and sanctions
list screening
Supplier self-assessment questionnaire
2. Internal expert review
Review of supplier self-assessment questionnaire
Country-risk assessment
Adverse media screening
Sustainability rating review
Supplier’s company policy review
Supplier dialogue
3. Decision
Decision-making body depends on the risk level
Risk mitigation plan is required for all approved suppliers with high or extreme risk.
Regular follow-up actions together with the supplier, if applicable
Sustainability of renewable fuels is ensured by sustainability schemes
Renewable fuels are subject to strict sustainability and traceability requirements, which are ensured through sustainability schemes. We ensure that all renewable fuels we procure are traceable and comply with the legislative requirements in force on all our markets. We exclusively source renewable fuels from suppliers that meet the official EU sustainability requirements, either through EU voluntary schemes like ISCC (International Sustainability & Carbon Certification) or national sustainability schemes. Sustainability schemes always involve regular third-party audits.
NEOT’s own operations are also certified according to ISCC, Finnish and Swedish national sustainability systems, as well as Norwegian authorities’ requirements. Our adherence to these systems and legislation are audited annually. Additionally, Sweden’s sustainability system is audited according to local legislation as needed.