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St1 and Compensate collaborate on compensating the carbon footprint of transport

As the first energy company and fuel distributor, St1 offers its customers the opportunity to compensate the carbon footprint of transport in cooperation with the Finnish non-profit Compensate Foundation. The service is offered first to the company's St1 and Shell commercial fuel card customers, who can compensate the carbon dioxide emissions of their purchased fuels with a compensation payment charged monthly. The Compensate model calculates the compensation payment from the carbon dioxide emissions from oil drilling, refining, transportation and use of fuels, which, for example, make 5.57 cents per liter for diesel. The compensation payments will be directed in full to the Compensate Foundation, which will use them fully for the most effective de-carbonation afforestation projects.

Climate change mitigation requires the reduction of emissions as much as possible in a cost-effective manner and the large-scale elimination of carbon dioxide already present in the atmosphere. Significant measures to combat global warming include the creation of a sustainable carbon cycle through the development of synthetic fuels and the binding of carbon to the soil by the creation of carbon sinks. Afforestation and the protection of existing forests are immediately available and cost-effective ways of creating carbon sinks to capture carbon dioxide from the atmosphere on a global scale.

Compensating consumption guides you to responsible choices

Compensation is an effective way of channeling funds to strengthen carbon sinks. When linked directly to the purchase of a product or service, it makes their climate impact visible and makes it easier for customers to make more sustainable everyday choices. Compensating emissions with Compensate model is transparent and traceable. The Compensate Foundation regularly submits reports on compensations, indicating the certified targets and the amount of carbon dioxide sequestrated.

“Our commercial customers enable us to run our everyday lives and keep the wheels of society rolling. At the same time, many companies are thinking how to reduce the inevitable carbon dioxide emissions from operations. Collaboration with the Compensate Foundation is a new and crucial step alongside our company's renewable energy solutions, and we are delighted to provide our commercial customers with a compensation opportunity as well. The future is made by today's choices,” says Mika Wiljanen, CEO of St1 Oy.

"These desperately needed transportation reforms still require development, investments and political action. Meanwhile, traffic creates unavoidable carbon emissions every single day, and therefore both individuals and companies need tools to act right here and now," says Antero Vartia, founder and CEO of Compensate.

More information:

Laura Lampola, St1 Oy, Director, Direct Sales, tel. +358 10 557 2432, laura.lampola@st1.fi www.st1.fi/compensate

Antero Vartia, CEO, Compensate, tel. +358 45 899 2550, antero@compensate.com
www.compensate.com


St1 Nordic Oy is a Nordic energy group whose vision is to be the leading producer and seller of CO2-aware energy. The Group researches and develops economically viable, environmentally sustainable energy solutions. St1 focuses on fuels marketing activities, oil refining and renewable energy solutions such as waste-based advanced ethanol fuels and industrial wind power. The Group has 1300 St1 and Shell branded retail stations in Finland, Sweden and Norway. Headquartered in Helsinki, St1 employs currently more than 770 people. www.st1.eu

 

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