The Goodyear Tire and Rubber Company is describing its commitment to sustainability as ‘unwavering’ as it releases details of progress in its corporate responsibility report.
The company’s latest report explores how Goodyear is helping create value for its internal and external stakeholders but also outlines the progress it is making toward achieving its short- and long-term sustainability goals. This includes net-zero value chain emissions by 2050 and increasing the amount of recycled materials in its products.
Goodyear has outlined ambitious climate and sustainability goals, committing to using 100% renewable electricity in all manufacturing facilities by 2030 and aiming to achieve 100% renewable energy in these facilities by 2040.
The company plans to develop a tire made of 100% sustainable materials by 2030 and intends to replace all petroleum-derived oils in its products by 2040. These commitments underscore Goodyear’s dedication to reducing its environmental impact and driving industry-wide sustainability.
CEO and President Mark Stewart said: “Our commitment to sustainability and delivering value to our customers and other stakeholders is unwavering. Our 2023 corporate responsibility report demonstrates how our associates around the world continue to help build a better future, from exploring new innovations and materials, to identifying and implementing new strategies to help us meet our corporate responsibility ambitions, to giving back to our communities in which we live and work.”
Goodyear’s 2023 Sustainability Progress: Key Highlights
Goodyear lists in its strategy how it is actively exploring low-GHG-emissions and circular materials. A cross-functional working group collaborates with both current and potential suppliers to research and evaluate materials that can reduce emissions, considering factors such as emissions-reduction potential, cost, and availability.
Examples include pursuing technologies to replace standard carbon black with carbon-neutral carbon black, using chemically recycled PET instead of virgin PET, and increasing the use of recycled steel cord. This group is developing a low-GHG-emissions materials roadmap to help Goodyear achieve its 2030 science-based target.
Another key focus is reducing material consumption through tire designs that use lightweight materials. For instance, thinner but stronger steel cords are being used to reduce the amount of steel per tire and to minimise waste generated during operations.
Engaging suppliers in climate targets and actions is also a critical area. In 2023, Goodyear conducted an emissions impact analysis by material group and supplier to identify key hotspots. Suppliers were assigned maturity scores based on third-party scoring, external reporting, and their commitments to SBTi climate goals. Goodyear selected 17 suppliers, representing approximately 45% of Scope 3 emissions from purchased goods, to develop detailed road maps focusing initially on Scope 1 and 2 emissions. Suppliers are also encouraged to engage their own supply chains to reduce Scope 3 GHG emissions.
In September 2023, Goodyear launched a supplier engagement programme involving over 400 raw material suppliers, requesting them to meet several criteria by December 2024:
“Learning is critical, and I ask our team every day to always be learning—generating new ideas, identifying challenges and discussing them to come up with solutions. A sustainability journey will not be smooth sailing. There will be bumps in the road and new hurdles to climb, but we are in this together. We are looking at everything from new product development to navigating an ever-evolving regulatory landscape to ensure we are continuing to provide sustainable value for our stakeholders for another 125 years and beyond,” adds Mark Stewart.
******
Make sure you check out the latest edition of Sustainability Magazine and also sign up to our global conference series – Sustainability LIVE 2024
******
Sustainability Magazine is a BizClik brand
******
Google calls for ‘systems-level’ change as it reports a 13% rise in its GHG emissions – driven by AI, data centre and supply chain energy consumption
Returning in just one week, Sustainability Magazine will be releasing its annual Top 250 Companies in Sustainability for 2024
Sustainability LIVE comes to Climate Week NYC on 24 September 2024, hosting an ‘invitation-only’ summit
Sustainability Magazine connects the leading sustainability and ESG executives of the world's largest brands. Our platform serves as a digital hub for connecting industry leaders, covering a wide range of services including media and advertising, events, research reports, demand generation, information, and data services. With our comprehensive approach, we strive to provide timely and valuable insights into sustainable practices, fostering innovation and collaboration within the sustainability community. Join us today and shape a sustainable future for generations to come.