Neste Welcomes Swedish Government’s Support For Renewable Fuels
On March 24, 2017, Neste, a member of BRAG®, announced its approval of draft proposals by the Swedish government regarding mandated reductions in traffic fuel emissions and the continued tax exemption for high-blended biofuels. By 2030, the government aims to reduce carbon emissions from transportation by 70 percent. In addition to reducing carbon emissions, the ambitious targets and long-term perspective will help support innovation and investments in biofuels. Neste, which has a strong focus on developing cost-efficient technologies to convert forest residues into biofuels, stated that the substantial amount of forest-based raw materials in the country will likely play a key role in achieving the proposed goals.