Now the energy sector faces one of its toughest challenges
ever: how to provide more energy to a growing world
population, while also reducing the greenhouse gas emissions
that contribute to climate change and to air pollution, which
affect people around the world.
Governments took a great stride forward in 2015, when they
came together in Paris to reach a landmark agreement to
tackle climate change. FinCo welcomes and supports the
Paris Agreement and the ambition to limit the global rise in
temperatures to well below two degrees Celsius (2°C) above
The world currently emits 37 billion metric tons of energy-related
CO2 each year. To limit the rise in global temperature to 2°C
CO2 emissions need to fall to around 18 billion metric tons a
year by 2040. FinCo plans to keep pace and catch up with
society’s progress towards realizing these Paris goals.
There is a growing recognition of the role of renewable fuels
as Europe tackles climate change and poor air quality. The
European Renewable Energy Directive (RED) sets targets for the
use of renewables in transportation fuels. All EU countries have
to meet a 10% renewables target in transport by 2020. And in
2030 at least 14% of transportation fuels have to come from
Hydrocarbons will still play an important role in the decades to
come. FinCo wants to be frontrunner in offering its customers
a portfolio of fuels with a reduced carbon footprint. As we
believe that our long-term success depends on our ability to
anticipate the types of fuels and energy carriers our customers
will need in the future.
By blending sustainable renewable fuels, the carbon footprint
of our end products diesel, gasoil and gasoline is brought
down while making use of today’s combustion engines and
existing fuel infrastructure. In this way, we support companies
in improving carbon emissions and local air quality at an
affordable price and lower total cost of ownership.
Examples of the renewable fuels we are currently delivering
and targeting are advanced ethanol, advanced FAME,
hydrotreated vegetable oil (HVO), waste-plastic fuels, biomass-to-liquid
(BTL) and the enzyme-based fuel ChangeXL.
Besides the renewable fuels we are currently using, other low carbon options
like renewable electricity and hydrogen might also start to play a role
as low carbon transport fuels. In the transition towards a lower-carbon
energy system we need to have a strategy that is flexible enough to also
keep in step with these changes as they unfold.