Neste to Provide Sustainable Aviation Fuel to TripActions Group Customers
PALO ALTO, CA, September 29, 2021—TripActions, the fastest-growing travel and spend management company, and Neste, the world’s leading sustainable aviation fuel producer, today announced a global partnership to offer Neste MY Sustainable Aviation Fuel™ to all TripActions and Reed & Mackay customers. The agreement marks the first time that a corporate travel and spend management company is able to provide customers with the option to purchase sustainable aviation fuel (SAF) at scale to help reduce the environmental impact of business travel.
TripActions and Reed & Mackay aim to operate at the forefront of corporate travel sustainability, and are now the world’s first travel management company to enable customers to purchase Sustainable Aviation Fuel (SAF) directly from the world’s largest producer. In partnering with Neste, TripActions and Reed & Mackay will enable customers to reduce their carbon footprint while driving investment in this important sector.
“As a group, TripActions strongly believes in supporting the sustainability efforts of our customers,” says Ariel Cohen, TripActions Co-founder and CEO. “SAF has emerged as one of the most promising lower-emission alternatives to fossil fuel and as an innovation leader, TripActions is proud to help increase its availability to our customers in support of their science-based targets.”
The TripActions Group-Neste partnership will facilitate corporate sustainability efforts, such as the Science-Based Targets initiative (SBTi) guidance for the aviation sector, which recognizes SAF as a solution for corporate customers to meet emissions targets for business travel through a direct purchase of SAF from a fuel producer or an airline.
“As businesses return to travel, the TripActions Group-Neste partnership adds another component to our comprehensive toolkit that enables clients to place sustainability at the heart of their travel programs, while continuing to move across borders, connect cultures, and stimulate the global economy,” says Fred Stratford, CEO at Reed & Mackay.
Neste MY Sustainable Aviation Fuel is made from sustainably sourced renewable waste and residue raw materials. In its neat form and over the lifecycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%* as compared to fossil jet fuel use. The fuel enables significant reductions in flying-related emissions, giving businesses an opportunity to contribute to reportable emission reductions with science-based targets.
“Business travel is resuming again, making it more urgent than ever for companies to minimize their climate impact,” says Thorsten Lange, Executive Vice President of Renewable Aviation at Neste. “Purchasing Neste MY Sustainable Aviation Fuel does exactly this. I hope that this new agreement with our partner TripActions will encourage many companies around the world to follow. To combat climate change, we must act now.”
*Calculated with established life cycle assessment LCA methodologies, including EU RED and CORSIA.
Fast becoming the default for corporate travel and expenses, TripActions is the leading, cloud-based T&E platform that combines industry-leading tech with best-in-class travel agency service. Trusted by more than 5,000 companies globally, TripActions empowers organizations with real-time data to make business decisions and provides flexible T&E management tools that enable them to adapt to changing market conditions to keep traveling employees safe, control costs, and save money. Learn more at tripactions.com.
About Reed & Mackay
Reed & Mackay delivers corporate travel and event solutions, helping businesses to connect effortlessly across the globe. Established as a family business nearly 60 years ago, today, Reed & Mackay is recognised as the global leader for delivery of extraordinary service in the travel and events arena. Born from close working relationships within the financial, legal and insurance sectors, Reed & Mackay combines inspired service with state-of-the-art technology to create a level of travel and event management like no other and deliver value that you might not believe possible. In May 2021, Reed & Mackay became part of the TripActions Group and continues to operate as a standalone brand.
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2020, Neste’s revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products. Read more: neste.com