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Neste

Neste is a publicly listed oil and renewable fuels refiner company headquartered in Finland with midstream and downstream activities. In 2020, it had USD 14.35 billion in revenue and a reported 4,833 employees*. Its main business activities are oil and biofuel refining and retail. Neste's mature and profitable biofuels business shows that oil and gas refining companies can build a successful low-carbon business.

Ranking position
#1/100
Total score
57.4/100
Performance score
8.1/20
Narrative Score
ABCDE
Trend Score
  • Trend line is up
  • Trend line is equal
  • Trend line is down
Performance module name Performance module score Rank (0-100)

Targets

36.9 /100 #5

Material Investment

4.8 /100 #58

Intangible Investment

18.9 /100 #6

Sold products

9.9 /100 #15

Management

60.5 /100 #7

Supplier Engagement

97.5 /100 #1

Client Engagement

75.0 /100 #2

Policy Engagement

30.0 /100 #27

Business Model

35.0 /100 #6

Leading practices

Risks and opportunities

Trend

Neste receives a trend score of =. If the company were reassessed in the future, its score would likely stay the same. The company’s scope 1, 2 and 3 emissions intensity is not estimated to decrease at the rate required by its 1.5°C pathway if the trend seen between 2014 and 2019 continues.

However, Neste has dedicated high levels of CapEx to low-carbon projects and has a clear plan to expand its low-carbon product offering to further sectors. Its investments in less mature technologies such as electrolysis of green hydrogen and carbon capture, utilisation and storage could enable further emissions reductions. Additionally, the company’s investments in increasing its renewable product capacity will enable a greater relative share of low-carbon products in its fuel mix in the future and may decrease its scope 1, 2 and 3 emissions intensity.

Progress towards the Paris Agreement

More about the company

Headquarters
Espoo, Finland
Group revenue
EUR 11,750,000,000 (USD 14.35 billion)
Ownership structure
Publicly listed
Number of employees
4,833
Scope of activity
Semi Integrated
Website
https://www.neste.com/