– Committed to achieving net-zero greenhouse gas emissions by 2050 and 2030 emission reduction targets based on SBTi standards
– TCFD-aligned disclosures planned for 2022
The Goodyear Tire & Rubber Company recently announced its goal to reach 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.
In 2022, Goodyear will submit its 2030 and 2050 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% by 2030 and relevant Scope 3 emissions by 28% over the same time frame.
“Goodyear’s net-zero goal and alignment to SBTi reflect our commitment to sustainability and reducing our carbon footprint,” said 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.”
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% 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, tire 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% 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.