S&P Global has published its Sustainability Yearbook 2024, with Pirelli distinguishing itself as the only firm within the Auto Component sector to qualify as a ‘Top 1%’ company. Commenting on this achievement, Marco Tronchetti Provera says the recognition confirms Pirelli’s “capacity to integrate its sustainability strategy along the entire value chain.”
Following the annual review of its indices, S&P Global has confirmed Pirelli on the Dow Jones World Index and Europe Sustainability Index. This confirmation follows the announcement in November that Pirelli had obtained the highest scores in the Auto Components and Automotive sectors as part of the S&P Global 2023 Corporate Sustainability Assessment.
Pirelli reports that it achieved a top score in sustainability with the Auto Components and Automotive sectors in S&P Global’s 2023 Corporate Sustainability Assessment. The news emerged from the results published by S&P Global, which is also the basis for inclusion in the Dow Jones Sustainability indices.
Hankook has been certified S&P Global Gold Class in S&P Global’s Sustainability Yearbook 2022, making the tyre manufacturer one of the top companies in the US financial services provider’s ranking. Based on the S&P Dow Jones World Sustainability Index, the yearbook is regarded as one of the world’s foremost sustainability indices. Of the 7,554 companies evaluated for the 2022 yearbook, 75 received gold, 89 silver, and 106 bronze awards for outstanding achievement. Hankook president and CEO Sooil Lee said, “The award is a testament to our commitment to a more sustainable future. To further drive our growth as a global acting tyre company, we plan to strengthen our social, environmental and financial activities globally.”
S&P Global has awarded two tyre makers a Gold Class rating in its Sustainability Yearbook 2022. In addition to Pirelli reaching this status, which we reported on 1 February, S&P Global has also placed Hankook Tire & Technology in the Gold Class.
Pirelli has again been awarded gold with its confirmation as Gold Class in the Sustainability Yearbook 2022, published by S&P Global and based on the assessment of the sustainability profiles of over 7,500 companies.
As far as auto components are concerned, Pirelli has come out on top in the S&P Global Sustainability Yearbook 2021, following the confirmation that it is rated as “Gold Class”. The Sustainability Yearbook 2021, which is published by S&P Global and takes into consideration the sustainability profiles of over 7,000 companies, also mentioned three other tyremakers: Hankook, Nokian and Bridgestone in the ranking.
According to S&P Global’s CRISIL Ratings, the tyre industry will be one of the few sectors in India where operating profits surpass pre-crisis levels. Examining its rating of the country’s six leading tyre manufacturers, CRISIL forecasts that their operating profit will grow by six to eight per cent in the 2021 fiscal year (1 April 2020 to 31 March 2021), with favourable input prices and higher realisations helping to offset a four to six per cent decline in volumes.
Pirelli holds the distinction of being the only company within the automotive components sector to achieve ‘Gold Class’ in the SAM Sustainability Yearbook 2020. Other tyre makers to gain a ranked position in the Yearbook were Hankook Tire & Technology and Nokian Tyres, which both achieved SAM Bronze Class, and Bridgestone Corporation, which was acknowledged as a Sustainability Yearbook Member.
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