AKRON,
Ohio, June 27, 2024 /PRNewswire/ -- The Goodyear
Tire & Rubber Company (NASDAQ: GT) today released
its report on corporate responsibility performance for 2023.
The company's latest report details how Goodyear is helping create
value for its internal and external stakeholders. The report also
outlines the progress Goodyear is making toward achieving its
short- and long-term sustainability goals.
Chief Executive Officer 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."
The 2023 report marks the first time the company is reporting on
its high-priority topics—Climate Decarbonization, Adaptation and
Resiliency; Circularity; Human and Labor Rights; and Supply Chain
Governance and Transparency—that were identified following a double
materiality assessment conducted in late 2022 in alignment with the
Global Reporting Initiative (GRI) standards. Some of the report's
highlights are below.
Progress Toward Net-Zero Value Chain Emissions by
2050: Goodyear continued its work to reduce its
environmental impact. In 2023, the company reduced its Scope 1 and
Scope 2 greenhouse gas (GHG) emissions by 21.9 percent, compared to
its 2019 baseline. In addition, Goodyear increased its utilization
of renewable electricity to 37 percent across its global
manufacturing operations.
Product Development and Sustainable-Material Use: The
company continued to make strides toward achieving its 2030 goal of
introducing a 100 percent sustainable-material tire with the launch
of the EcoReady, a consumer tire made with 70 percent sustainable
materials, in the United States in
December 2023*. The EcoReady is
engineered with soybean oil to reduce petroleum-based oil,
high-quality rice husk ash silica to reduce waste going to landfill
and sustainably sourced natural rubber.
Fostering an Inspiring Culture: Goodyear helps its
associates reach their full potential through integrated talent
management and learning development solutions that support a
diverse and inclusive culture. The company's eight Employee
Resource Groups (ERGs) are an example of this. In 2023, associate
membership in Goodyear's ERGs grew by nearly 15 percent.
Additionally, there was a 20 percent year-over-year increase in
associate participation in the company's Global Week of
Volunteering.
A Commitment to Sustainable Sourcing: Goodyear is
committed to managing sourcing in a way that helps reduce
environmental and social impacts. In 2023, through its work with
the Global Platform for Sustainable Natural Rubber, the company
helped fund a Capability Building Project that trained nearly 5,000
farmers in Indonesia to help
improve their agricultural practices.
Goodyear's 2023 report was prepared with reference to the GRI
Standards. Goodyear's 2023 Scope 1 and Scope 2 GHG emissions data
has been third-party verified.
The 2023 Goodyear Corporate Responsibility Report can be found
on the Goodyear Corporate Responsibility website.
*Goodyear currently defines a sustainable material as
a bio-based (defined as material of biological origin (Source: ISO
14021)); renewable; or recycled (defined as material that has been
reprocessed from recovered [reclaimed] material (Source: ISO
14021)) material; or one produced using or contributing to other
practices designed to promote resource conservation and/or
emissions reductions, including ISCC PLUS mass-balance (defined as
a certification verifying our capability to track the amount and
sustainability characteristics of circular and/or bio-based
material in the value chain and attribute it based on verifiable
bookkeeping.
About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It
employs about 71,000 people and manufactures its products in 55
facilities in 22 countries around the world. Its two Innovation
Centers in Akron, Ohio, and
Colmar-Berg, Luxembourg, strive to
develop state-of-the-art products and services that set the
technology and performance standard for the industry. For more
information about Goodyear and its products, go to
www.goodyear.com/corporate.
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SOURCE The Goodyear Tire & Rubber Company
