Goodyear unveils new climate ambition

The Goodyear Tire & Rubber Company has announced a goal of reaching net-zero value chain greenhouse gas (GHG) emissions by 2050, aligned with the Science Based Targets initiative (SBTi) and its new Net-Zero Standard. The company also announced its commitment to achieve near-term science-based targets by 2030, and in 2022 will submit both targets to SBTi for independent validation.

Using 2019 as a base year, Goodyear is committed to reducing its Scope 1 and 2 emissions by 46 per cent by 2030 and relevant Scope 3 emissions by 28 per cent over the same time frame.

“Goodyear’s net-zero goal and alignment to SBTi reflect our commitment to sustainability and reducing our carbon footprint,” says Richard J. Kramer, chairman, chief executive officer and president. “As one of the world’s largest tyre manufacturers, we are committed to doing our part to implement transformative changes that will help protect our planet for future generations and build a more sustainable business for all of our stakeholders.”

Expanding sustainability-focused efforts

The strategy to achieve these targets will expand on Goodyear’s other sustainability-focused efforts, which will contribute to the company’s goals, such as:
• The multiple-phase plan to procure 100 per cent renewable energy in its facilities across Europe, Middle East and Africa by the end of 2022.
• The company’s state-of-the-art technology in rubber compounding, tyre construction and manufacturing, which contributes to reduced emissions through lower rolling resistance and reduced tyre weight.
• Goodyear’s increasing use of alternative raw materials, which has the potential to reduce its consumption of petroleum-based feedstocks and reduce its carbon footprint. This supports Goodyear’s goal to create a 100 per cent sustainable-material and maintenance-free tyre by 2030.

Goodyear’s new climate goals come after a comprehensive carbon-inventory assessment, which included collecting data from its operations and quantifying GHG emissions throughout its value chain. The company also plans to adopt disclosures aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework, adding to its existing Global Reporting Initiative (GRI)-based sustainability disclosures.