MOSCOW (MRC) -- Neste, the world’s leading sustainable aviation fuel producer, and TripActions and Reed & Mackay, the fastest-growing travel and spend management group, have announced a groundbreaking global partnership to offer Neste MY Sustainable Aviation Fuel to all TripActions Group customers, according to Hydrocarbonprocessing.
The agreement marks the first time that a corporate travel management company is able to provide customers with the option to buy sustainable aviation fuel (SAF) at scale and reduce the environmental impact of their business travel.
TripActions and Reed & Mackay aim to operate at the forefront of corporate travel sustainability - becoming the world’s first travel management company group to enable customers to purchase SAF directly from the world’s largest producer and then supply it to the airlines on which they fly. In partnering with Neste, TripActions and Reed & Mackay will enable customers to reduce their carbon footprint while driving investment in this important sector.
The TripActions Group-Neste partnership will facilitate corporate sustainability efforts, such as the Science-Based Targets initiative (SBTi) guidance for the aviation sector, which recognizes SAF as a solution for corporate customers to meet emissions targets for business travel through a direct purchase of SAF from a fuel producer or an airline.
Neste MY Sustainable Aviation Fuel is made from sustainably sourced renewable waste and residue raw materials. In its neat form and over the lifecycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%, as compared to fossil jet fuel use. The fuel enables significant reductions in flying-related emissions, giving businesses an opportunity to contribute to reportable emission reductions with Science-Based Targets (SBTs).
As MRC reported earlier, in September 2021, Kinder Morgan, one of North America’s largest energy infrastructure companies, partnered with Neste, one of the leading providers of renewable and circular solutions, to create a premier domestic raw material storage and logistics hub in the United States, supporting increased production of renewable diesel, sustainable aviation fuel and renewable feedstock for polymers and chemicals.
We remind that in July, 2021, Finnish Neste and LyondellBasell announced a long-term commercial agreement under which LyondellBasell will source Neste RE, a feedstock from Neste that has been produced from 100% renewable feedstock from bio-based sources, such as waste and residue oils and fats. This feedstock will be processed through the cracker at LyondellBasell’s Wesseling, Germany, plant into polymers and sold under the CirculenRenew brand name.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.
Neste (Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. The company is the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. In 2020, Neste's revenue stood at EUR11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products.
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