Investments in a volatile operating environment

The EU is committed to reducing its net greenhouse gas emissions by at least 55 percent by 2030, compared to 1990. And the long-term targets go even further, resulting in climate neutrality by 2050. Accelerating the energy transition is critical in achieving those targets, since cutting emissions and investments in low-emissions technologies will play a key role along the way. 

The target is clear, but the common roadmap and its large-scale enablers are still in the development phase. "One thing is clear, the road to 2050 is not straight and the journey does not proceed at an even pace, but that shouldn’t stop us from aiming high”, says Marlene Burwick, Public Affairs Lead at St1 Sweden. 

The climate policy of the European Union guides the policy measures to mitigate climate change and adapt to it, both within the EU as a whole and in individual Member States. The regulatory landscape has adopted to the geopolitical changes and the prevailing conditions in society. 

In several EU member states, including Finland and Sweden, the energy crisis and related energy sufficiency challenges, together with security aspects have had an impact on the national legislation regarding, for example, the bio-mandate for road transport. That, in turn, has an impact on the current climate target realisation level.  

St1 is an energy transition company, operating in various countries, so national emission reduction targets and mandates concern us and thus have a strong link to our sales of renewable fuels. 

Determined to reach high  

“Our extensive renewable energy investment program shows results and we are now starting up the production of sustainable aviation fuels and renewable diesel in our newly finished Gothenburg Biorefinery. I’m so proud that this huge investment with a long construction timeline is now finally delivering renewable energy products for our customers”, says Marlene. 

“Another already available means for emissions reduction is biogas, where we have a strong focus. Last year we constructed our seventh biogas plant in Sweden. It is also important to make renewable energy available to our customers, so we continued expanding our liquid biogas distribution network together with our Nordic high-power EV charging network”, Marlene tells. 

St1’s strategic focus areas in the energy transition aim for long-term targets, for years to come. We are looking for even larger-scale opportunities in electrification. "The hybrid concept, Biorefinery Östrand together with SCA, is a project where we wish to accelerate the energy transition by both reducing carbon dioxide emissions from aviation, and also look into offering the plastics industry a more sustainable, renewable alternative to replace fossil raw materials with renewable naphtha”, Marlene explains. 

“Companies have a key role in implementing the energy transition towards the climate targets. That’s why a steady investment environment is needed for companies to develop and realise their plans together with an ever-evolving market for new, more sustainable energy products. It is important to keep developing the regulatory framework that enables us to execute the energy transition efficiently and cost-efficiently”, Marlene concludes. 

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