Keilaranta, Finland, July 12, 2016: Neste, a pioneer in oil refining and renewable solutions and the world’s leading producer of renewable diesel, published today a statement explaining the company’s view on the world’s need for biofuels.
Reason 1: Combating climate change
Combating climate change forces the world to seek alternative, low-carbon sources of energy and fuel. Since traffic is one of the largest sources of greenhouse gas, i.e. carbon emissions (CO2), substituting fossil fuels with renewable alternatives such as biofuels is an efficient way to reduce these emissions. Biofuels offer a solution to reduce carbon emissions of traffic when other solutions, such as switching to electric vehicles, is not an option due to high vehicle costs or lack of vehicle charging network, for example.
Reason 2: Responding to higher energy consumption
The expected increase in world population to 8 or even 10.5 billion by 2050, combined with significant economic growth in emerging economies will result in substantially increasing energy consumption. To be able to respond to this growing demand, we need to use natural resources more efficiently and increase the use of renewable energy, such as biofuels.
Reason 3: Securing energy supply
Increasing energy demand will pose challenges to security of supply as resources are scattered around the globe. Biofuels help to enhance and safeguard energy security by reducing the world’s reliance on fossil energy sources. Biomass is a resource that is more evenly distributed globally.
Reason 4: Making the most of scarce resources
Using waste and residue as raw materials for biofuels is an excellent example of answering to the needs of a circular economy. Reducing the amount of waste and making the most of our valuable natural resources is crucial for our future survival.