For a fifth consecutive year, CDP has awarded Nokian Tyres an A- score in its annual CDP Climate report for activities aimed at reducing greenhouse gas emissions and mitigating climate change-related risks. Commenting on this result within “one of the most trusted indicators for performance on corporate climate change mitigation,” Nokian Tyres notes that scores of A and A- represent “leadership level” performance.
Tyre manufacturers have announced the closure of several factories within Germany in recent times, not least as a result of cost competitive competition from abroad. This has not stopped the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a development bank indirectly owned by Germany’s federal and state governments, from providing JK Tyre & Industries Ltd with a long-term loan of 30 million euros to help it expand a plant in India.
The Science Based Targets initiative (SBTi) has approved Nokian Tyres’ new greenhouse gas (GHG) emissions reduction targets, including both near-term targets for 2030 and long-term targets to reach net-zero GHG emissions across the value chain by 2050. SBTi approval means that it considers Nokian Tyres’ targets to be in line with what the latest climate science deems necessary to limit global warming to 1.5°C.
CDP Carbon Management Sector Honors for Hankook Tire & Technology (Hankook Tire). The Carbon Disclosure Project (CDP) Korea Committee hosted its Climate Change and Water Security Awards on 13 March. Based upon the CDP Climate Change Response Project’s evaluation of more than 23,000 global companies, the Committee acknowledged Hankook Tire within the Consumer Discretionary awards category. The tyre maker achieved an A- rating in the evaluation, one of only 25 Korean companies achieving this distinction.
CDP has given Nokian Tyres an A- for its actions towards reducing greenhouse gas emissions and mitigating climate change-related risks. This is the fourth consecutive year that CDP has awarded Nokian Tyres an A- for its work in this area, and the Finnish company notes that scores of A and A- in the annual CDP Climate Change report represent “leadership level.”
The tyre industry has long been considered a high-energy consumption industry, and manufacturers based in China have therefore been profoundly impacted by their government’s carbon neutrality and carbon peaking policies. Prinx Chengshan comments that Shandong Province, where its factory in China is located, frequently issues guidance to aid qualitative development within the tyre industry.
Pirelli & C. SpA has secured a spot on the CDP Climate A list 2022, the fifth consecutive year it has done so. The company was also recently included in the Top 1%, the highest level of recognition within S&P Global’s Sustainability Yearbook 2023.
The International Rubber Study Group (IRSG) believes there are “no sustainable alternatives” to natural rubber. In order to gain a greater understanding of how climate change economically and socially impacts this industry, IRSG has enhanced its collaboration with the Singapore Agri-Food Lab (SAIL) at Nanyang Technological University (NTU). This collaboration may expand in future to focus on sustainability in the supply chain beyond the plantation.
The Science Based Targets initiative (SBTi) has validated Pirelli’s upgraded targets for reducing greenhouse gases. Four years ahead of schedule, the company reached the previous targets validated for Scopes 1 and 2 by the end of 2021.
Global non-profit CDP, which runs the Supplier Engagement Leader, has once again named Bridgestone Corporation to this world leading environmental disclosure platform. This is the third consecutive year and fifth occasion overall that CDP has included Bridgestone on its the Supplier Engagement Leader with the highest ‘A’ rating in Supplier Engagement Rating.
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.
Pirelli & C. SpA views its inclusion in CDP’s its Climate A list 2021 as confirmation that it is a “global leader in the fight against climate change.” It is one of just three tyre makers to gain a place on the international non-profit organisation’s list, the others being Bridgestone Corporation and Michelin Group.
This year, Goodyear asked fleet operators in Europe for their views on issues related to sustainability and what they’re doing to reduce carbon footprint. A total of 985 fleets from 36 European countries responded during August and September 2021, and the results of this 2021 Goodyear Sustainable Reality Survey are now out and available from Goodyear upon request. Responses suggest that sustainability has a significant prominence for operators in the transportation industry.
Recent years have seen tyre industry interest and investment in sustainability sharply increase. In August the Intergovernmental Panel on Climate Change (IPCC) published an uncompromising report warning that “Scientists are observing changes in the Earth’s climate in every region and across the whole climate system” and adding that “some…are irreversible over hundreds to thousands of years.” Here, British Tyre Manufacturers Association chief executive, Graham Willson explains why the UN red alert on climate change is a call to action and what it means for the UK tyre industry:
Continental is calling for politicians in its homeland to develop a more targeted concept for achieving carbon neutrality, and warns that now is the time to identify new employment opportunities brought about by climate transformation. Without a targeted concept and greater momentum, the company fears the German government’s determination to reach self-imposed climate targets by 2045 will result in serious disruption.
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