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European Climate Pact

Overview

Location

Finland

Sector

Oil & gas

Organisation type
Business

Pathway Pledges

Emissions

Have an absolute/intensity emissions reduction target (scope 1+2) with a 5-15 years’ time frame and a 2.1% year-on-year reduction at a minimum

Neste Oyj has a target to reduce absolute Scope 1+2 (market-based) CO2e emissions 50% by 2030 from a base year of 2019. This is a year-on-year reduction rate of 4.5% over the next 9 years. Neste Oyj has a target to reduce absolute Scope 1+2 (market-based) CO2e emissions 65% by 2035 from a base year of 2019. This is a year-on-year reduction rate of 4.1% over the next 14 years.

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked for completeness. Pledger must provide the minimum required data, the targets must be reported to include both Scopes 1 and 2 emissions, have a linear annual reduction rate of at least 2.1% per year. The target year must be greater than 5 years, but less than 15 years from the year the target was set.

Have an internal price on carbon

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Reported data is checked to gather details on how the organisation uses the price on carbon. Pledger must provide at minimum: the Scope(s) of emissions covered by the internal carbon pricing mechanism, the application of the price on carbon (i.e. the part(s) of the business decision-making process that the internal carbon pricing mechanism applies to), the actual carbon price level(s) used (Currency/metric ton), the variance of price(s) used, the type of internal price (e.g a shadow price or internal fee). Finally this pledge requires details on the impact and implication of setting a price on carbon (i.e a company-specific description of how the organization uses the internal price on carbon).

Forests

Publicly disclose data on forest-related impact to investors through CDP

Status date: Submitted (27/07/2021)

Data source: CDP Forests 2021

MRV: Yes*

*Pledging organisation is confirmed to have disclosed publicly on their forest-related impact. For example by responding publicly to the CDP Forest Questionnaire.

Have a publicly available forest policy, with well-defined goals and targets, that is used to inform internal decision-making

Status date: Submitted (27/07/2021)

Data source: CDP Forests 2021

MRV: Yes*

*Pledging organisation has reported they have a documented forest policy that is publicly available. It may be a stand-alone forest policy document or another equivalent document that includes the forest policy such as a "sustainability policy". They have described the scope or coverage of the forest policy, as well as the aspects that are covered by their policy.

Multi-topic

Publicly disclose climate and environmental data to investors and customers through the CDP reporting platform

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Pledging organisation is confirmed to have disclosed publicly on their climate and environmental impact. For example by responding publicly to the CDP Climate Change Questionnaire.

Implement climate scenario analysis as part of your business strategy setting

Status date: Submitted (27/07/2021)

Data source: CDP Climate Change 2021

MRV: Yes*

*Pledging organisation has reported they use climate-related scenario analysis to inform its strategy. Pledger must provide at a minimum: details on the climate-related scenarios and models applied (e.g. 2DS, IEA 450, Greenpeace, DDPP, IRENA etc.) as well as additional information such as how the selected scenario(s) were identified, with reference to the inputs, assumptions and analytical methods used.

Water

Publicly disclose data on water-related impact to investors through CDP

Status date: Submitted (28/07/2021)

Data source: CDP Water 2021

MRV: Yes*

*Pledging organisation is confirmed to have disclosed publicly on their water management and water-related impact. For example by responding publicly to the CDP Water Security Questionnaire.

Commitment to increase stakeholders awareness and education around water security issues

Status date: Submitted (28/07/2021)

Data source: CDP Water 2021

MRV: Publicly announced