SBTi validation for Goodyear targets

The Science Based Targets initiative (SBTi) has validated The Goodyear Tire & Rubber Company’s near-term and net-zero greenhouse gas (GHG) reduction targets. SBTi evaluated the tyre maker’s Scope 1 and Scope 2 near-term target ambition and determined this to be “in line with a trajectory of limiting warming to 1.5°C above pre-industrial levels.” The SBTi team also evaluated the Scope 1, 2 and 3 long-term target ambition and considers this aligned with its 1.5°C mitigation pathways for reaching net-zero greenhouse gas emissions by 2050.

Goodyear aims to reach net-zero greenhouse gas emissions across its value chain by 2050 from a 2019 base year. In addition, the company is committed to reducing absolute Scope 1 and 2 GHG emissions 46.2 per cent by 2030 from a 2019 base year, and absolute Scope 3 GHG emissions from purchased goods and services, fuel and energy-related activities and upstream transportation by 28 per cent within the same timeframe.

“It is through the hard work of our team and their collaborative efforts with partners across our value chain that we are able to identify opportunities and build sound strategies to help us reach both our near- and long-term climate goals,” says Richard J. Kramer, chairman, chief executive officer and president. “The SBTi’s validation of our greenhouse gas emissions targets further strengthens our sustainability commitments.”

Additional aims

In addition to setting near- and long-term climate goals, Goodyear has committed to using 100 per cent renewable electricity in all manufacturing facilities by 2030 and 100 per cent renewable energy in all manufacturing facilities by 2040, developing a tyre made of 100 per cent sustainable materials by 2030 and replacing all petroleum-derived oils in its products by 2040. Goodyear reports annually on its progress toward achieving these goals.

The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). At the end of 2022, more than 4,000 companies covering over a third of the global economy’s market capitalisation were setting targets or committing to do so via the SBTi. In addition, just over 2,000 companies have had their targets validated by SBTi, with Goodyear being one of those companies.