Sustainability Transformation in the Petrochemical and Plastics Industry – ​ Neste Case Study​

Founded in 1948, Neste was established to secure oil and fuel supplies for Finland. For decades it was a growing, regional oil refiner who focused on natural gas, chemicals, exploration, and collection of crude oil. These priorities shifted in the 1990s when the threat of climate change inspired Neste to become a renewables pioneer.

Today Neste is no longer simply an oil and gas company, but a top producer of sustainable fuels and circular solutions. A major focus has been on post-consumer plastic waste, where they have created technologies to upgrade waste plastics into high-quality feedstock for petrochemical industries and new products. They have also created renewable fuels and work in sustainable transportation.

Since transitioning to a sustainable company in 2005, Neste has increased its total revenue by 1.5x and net profits by 4x through 2021. Compared to other European petrochemical companies who averaged about an 8% increase in market capitalization during the same timeframe, Neste grew at 58.3%.

Now considered the world’s largest producer of renewable diesel and ranked 2nd most valuable brand in Finland, Neste’s transformation journey continues with goals to broaden end-markets in sustainable transportation, chemical, and polymer industries. 

Read more about Neste's sustainability journey HERE