Bridgestone releases 2020-2021 Sustainability Report

Bridgestone Corporation has published its 2020-2021 Sustainability Report, a document it describes as “an important milestone” on its “ongoing journey to provide social and customer value as a sustainable solutions company.” The report outlines the steps Bridgestone has taken over the past year and contains detailed information about its Mid-Long Term Business Strategy, Sustainability Business Framework, Mid Term Business Plan (2021-2023), and CSR activities. The report can be read or downloaded here.

“In order to meet changing social needs, we are taking on the challenge of creating value for society, our customers and Bridgestone. The group will also carry out a wide range of social contribution activities beyond our business domains, to foster trust with society and various stakeholders for further value co-creation,” said Shu Ishibashi, global chief executive officer and representative executive officer, Bridgestone Corporation. “It is the role and responsibility of the group to fulfil our responsibilities for the future, such as contributing to the achievement of SDGs with the mission of ‘Serving Society with Superior Quality’. We would like to invite all of our stakeholders to join us on our sustainability journey and believe this report is an important step as it promotes transparency and accountability.”

The main points of the report are as follows:

Contribution to Sustainable Development Goals (SDGs)

Guided by its mission of ‘Serving Society with Superior Quality,’ and the group’s ‘Our Way to Serve’ global CSR commitment, Bridgestone is integrating sustainability into its culture, business strategy and operations.

Realisation of Mid-Long Term Business Strategy with sustainability as its core

The report includes quantitative targets and detailed initiatives of the Mid-Long Term Business Strategy and Mid Term Business Plan (2021-2023), providing a roadmap for a strong and sustainable Bridgestone. Furthermore, through its Sustainability Business Framework, the group aims to establish a business model where business value, such as revenue and profits, is sustainably generated. This includes efforts toward a circular economy and achieving carbon neutrality across all group businesses from producing and selling, to providing value during use, and renewing tyres.

Update of Milestone 2030

Establishment of concrete goals for achieving carbon neutrality: Bridgestone has announced its goal of achieving carbon neutrality in its long-term environmental vision for 2050 and beyond, along with its target of reducing absolute CO2 emissions by 50 per cent from 2011’s level by 2030.

Disclosure of CO2 emissions and renewable energy usage rates: The group’s success in reducing total CO2 emissions by 31 per cent in comparison to 2011’s level in 2020 and its use of renewable energy for approximately 11 per cent of its global energy consumption have been disclosed.

Announcement of global targets for utilising renewable energy: Bridgestone has put forth the goal of sourcing more than 50 per cent of its power from renewable energy (electricity) by 2023 and declared its commitment to increasing its use of renewable energy going forward.

Build trust to propagate value co-creation

To execute its Sustainability Business Framework, value co-creation with customers and partners is essential. The report introduces the group’s various social contribution activities to foster trust and demonstrate its commitment to being a co-creation partner.

Management Fundamentals

The group’s six Management Fundamentals are foundational to its commitment to create social and customer value. In the report, representatives from the group’s Board of Directors, Nominating Committee, Audit Committee and Compensation Committee share their perspectives in a dialogue, and the state of governance for the group is introduced.

Announcing the release of its 2020-2021 Sustainability Report, the Japanese firm comments: “2021 marks the 90th anniversary of the founding of Bridgestone. Building on its mission of ‘Serving Society with Superior Quality,’ and by evolving into a sustainable solutions company providing social and customer value, the group will continue to contribute the realisation of a sustainable society.”