Neste has today published its annual Green Finance Report for 2024. The Green Finance Report, which covers green financing activities in 2024, demonstrates their commitment to producing renewable fuels and thereby mitigating climate change and accelerating a shift to a circular economy.
Neste has been a pioneer in the green transition for years, and they have made substantial investments in renewables. For the year ending 31 December 2024, the company announced the allocation of EUR 770 million to their eligible assets and projects in Singapore, Rotterdam and Martinez. EUR 650 million was allocated to Neste’s expansion project in Rotterdam. After its completion in 2027, Rotterdam refinery’s production capacity will increase to 2.7 million tons of renewable products annually, making it the world’s largest renewables refinery and increasing Neste’s renewables production capacity to 6.8 million tons per year.
In 2024, Neste raised EUR 550 million in green term loans, increasing its green debt portfolio to EUR 3,150 million. At the end of 2024, total allocated use of proceeds was EUR 2,730 million, leaving EUR 420 million unallocated and eligible for future allocation.
“Despite the evolving ESG investment landscape, the underlying story for the urgent need of green transition remains robust. This is demonstrated by the strong support for our efforts to drive climate change mitigation with our renewable solutions,” says Katariina Perkkiö, Vice President, Treasury and risk management at Neste.
Neste reports on the allocation and impact of green financing issued under the Green Finance Framework annually. In February 2024, Neste published a new Green Finance Framework to align with the latest market standards. This replaced Neste’s earlier Green Finance Framework published in 2021. Neste’s Green Finance Report 2024 and the Green Finance Framework are available on website.
