First polyester supply chain from sustainable feedstock
A consortium of seven companies across five countries has jointly established a supply chain for more sustainable polyester fiber. Instead of fossil materials, renewable and bio-based materials as well as carbon capture and utilization (CCU*) will be used in the manufacturing of polyester fibers for The North Face brand in Japan. The consortium parties are Goldwin, in the role of project owner, Mitsubishi Corporation, Chiyoda Corporation (all three from Japan), SK geo centric (South Korea), Indorama Ventures (Thailand), India Glycols (India) and Neste.
Neste will provide renewable Neste RE™ as one of the required ingredients for polyester production. The polyester fiber produced in the project is planned to be used by Goldwin for a part of The North Face products, including sports uniforms, in July 2024. After that, the launch of further Goldwin products and brands will be considered.
The seven companies apply a mass balancing approach to ensure credible traceability of material streams throughout the supply chain and will jointly continue to proactively promote the defossilization of materials to contribute to a more sustainable society.
Neste (NESTE, Nasdaq Helsinki) uses science and innovative technology to transform waste and other resources into renewable fuels and circular raw materials. The company creates solutions for combating climate change and accelerating a shift to a circular economy. Being the world’s leading producer of sustainable aviation fuel (SAF) and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, the company aims to help its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the CDP and the Global 100 lists of the world’s most sustainable companies. In 2023, Neste's revenue stood at EUR 22.9 billion
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