Neste Oil’s goal is to become a leader in terms of its key sustainability indicators. Group-level health, safety, and environmental management indicators and targets are set annually as part of the business planning process. These, as well as financial and HR management indicators, are monitored continuously and reported on monthly. Neste Oil also uses the results of ESG (Environmental, Social, and Governance) reviews carried out by outside bodies to monitor how it is performing in terms of sustainability.
Key sustainability-related targets and achievements
|Targets for 2011||Actions and achievements||Targets for 2012|
Continue developing sustainability management methods and indicators.
|We completed a manual of Group-level Sustainability and HSSEQ Management Principles.
We updated the structure of the Safety and Environment organization to ensure the effective implementation of the principles embodied in the manual.
We achieved ISCC certification of all Neste Oil’s NExBTL refineries.
|Continue implementing HSSE guidelines and systems and linking sustainability issues more closely to business area management based on the new organizational structure.
We expect the European Commission to approve our sustainability verification scheme, which is in line with the EU’s Renewable Energy Directive.
Certify the operating systems at the Singapore and Rotterdam refineries to ISO standards.
Maintain our position in all key sustainability reviews.
|Continue measures to improve energy efficiency aimed at saving 660 GWh of electricity by 2016, equivalent to 5% of consumption at Neste Oil's refineries and terminals in Finland in 2007.||We achieved 53% of the energy-saving targets defined in the energy efficiency program for 2016 during 2009–2011.
Based on Solomon Associates’ Energy Intensity Index (EII), the Porvoo refinery was one of the industry's best performers in terms of energy efficiency in 2011.
|Continue measures aimed at achieving our 660 GWh savings target at our refineries and terminals.|
|See Neste Oil included in the top 25% of European refinery safety performance statistics by 2015, by reducing the number of work-related injuries requiring medical attention per million hours worked (Total Recordable Injury Frequency, TRIF).
TRIF target <2.5
|We halved our TRIF figure compared to 2010, to 2.3.
In 2010, our TRIF performance (4.7) put us in the third quartile compared to our European peers. The comparative data on European refiners for 2011 will only be available in fall 2012.
Be among the top 25% refiners in terms of safety performance by 2015.
TRIF target = 2.0
|We will avoid all work-related injuries resulting in absence from work per million hours worked (Lost Workday Injury Frequency, LWIF).
LWIF target = 0
|We reduced the number of work-related injuries resulting in absences from work by over 40%.
LWIF = 1.7
|LWIF target = 0|
|Extend the use of safety observation tours to all the company’s operations.||We carried out 25,739 safety observation tours.
We established safety observation tour targets for all areas of the company’s operations.
Carry out 25,000 safety observation tours annually.
|Further reduce the number of >100 kg leaks in our operations compared to 2010.||We reduced the number of all leaks by over a third. There were 26 leaks of more than 1,000 kg of material and 35 leaks involving 100–1,000 kg of material.||Continue steadily reducing the number of leaks in our operations.|
|Deepen our engagement with all stakeholder groups.||We met key political decision-makers and influential figures in all our most important markets.
Regular contacts were maintained with the authorities, industry organizations, and NGOs in countries where we source our raw materials.
We launched global IGO and NGO programs, and met numerous international intergovernmental organizations (incl. FAO, UNEP, OECD, IFC, the World Bank) within the framework of these programs.
|Draw up Group-level targets and a Group-level plan for stakeholder engagement.
Continue extending systematic, planned engagement with all our key stakeholder groups.
|Increase the proportion of certified raw materials used in refining renewable fuels.||We increased the proportion of certified raw materials used in our refining processes to 49%.||Increase the proportion of certified raw materials by a minimum of 10%-points.|
|Raise ROACE (Return on Average Capital Employed, After Tax) to at least 15% over the long term.||ROACE = 2.6%||Continue working to achieve a long-term ROACE of at least 15%.|
|Retain a leverage ratio of 25–50%.||Leverage ratio = 45.7%||Maintain a leverage ratio of 25–50%.|
|Distribute a dividend equivalent to at least a third of underlying profits for the financial year.||The Board of Directors propose a dividend totaling EUR 90 million or EUR 0.35 per share (132% of Neste Oil’s comparable net result) for 2011.||Distribute a dividend equivalent to at least a third of underlying profits for the financial year.|
|Targets related to human resources can be found in the Personnel section.
For a glossary of the abbreviations and terms used in the table, see the Neste Oil's web site.