The Parliament of Finland has voted in favor of a law for gradually increasing the share of biofuels in road traffic to 30 percent by 2029. In addition, the Parliament has approved a law for the distribution obligation of bio-based light fuel oil. According to the new law, a share of light fuel oil intended for heating, construction machines and fitted motors will be replaced by bio-based fuel oil starting in 2021.
Courtesy of Neste
"Neste shares the Finnish Government's view that we need a large amount of sustainably produced biofuels in order to reduce climate emissions fast and sufficiently enough in the next decade. We need multiple solutions for reducing emissions: energy efficiency, better traffic planning, more public transportation as well as new technologies such as electric and gas-powered vehicles," said Ilkka Räsänen, Director, Public Affairs at Neste.
"Biofuels produced from waste and residues, such as Neste MY Renewable Diesel, reduce greenhouse gas emissions by up to 90 percent in comparison to fossil fuels," Räsänen continued.
The new law is an important step towards lower-emission transport to which Neste as a company is fully committed. The obligation is well aligned with the targets already set in Sweden and Norway and it brings Finland to the same ambitious level with its Western neighbors.
Neste, headquartered in Helsinki, Finland, creates sustainable solutions for transport, business, and consumer needs. Neste placed third on the Global 100 list of the most sustainable companies in the world.