Nokian Tyres announced a commitment to further reduce greenhouse gas emissions, aiming to achieve the net-zero standard by 2050. The company also published its Corporate Sustainability Report 2022, disclosing the latest development on its work on sustainability.
Nokian Tyres said it committed to set near- and long-term emission reductions in line with the science-based net-zero targets of the Science Based Targets initiative.
“Achieving the net-zero commitment by 2050 may feel distant, but in practice, it means that actions and innovation are needed today,” said Teppo Huovila, vice president of quality and sustainability at Nokian Tyres. “Committing to net zero is a natural continuation of our work for the environment and our aim to be the leader in sustainability in the tire industry.”
In the Corporate Sustainability Report, Nokian Tyres described the company’s latest work on sustainability in terms of product liability and safety as well as social, economic, and environmental responsibility.
Highlights include that 2022 was the first complete year when there was zero waste to landfill from production. It was also a record year in occupational safety, as the lost time incident frequency was at an all-time low. The greenhouse gas emission intensity from Nokian Tyres factories has decreased by 43% compared to the year 2015. Additionally, the company was again included in the Dow Jones Sustainability Europe index.
“Our sustainability work is driven by our company culture: we care about the environment, but also about our customers, employees, consumers and partners,” Huovila said. “The net-zero goal inspires us to drive innovation to address climate change – and succeed together. Taking action today will future-proof our business.”
The Corporate Sustainability Report 2022 has been prepared by the GRI Standards, and it has been assured by an independent third party, said Nokian.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. According to Nokian, it is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. All participating companies are listed on the Science Based Targets website.
Nokian Tyres said it was the first tire company to have its science-based targets for reducing greenhouse gas emissions approved by the Science Based Targets initiative in 2020. The new goal to reach net zero by 2050 incorporates additional targets to reduce emissions and commitment to SBTi’s most ambitious guidelines to limit the increase in global warming to 1.5°C in line with the Paris Climate Agreement.