Goodyears 2023 Sustainability Milestones

Innovating for a Greener Tomorrow: Goodyear’s 2023 Sustainability Milestones

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Goodyear Releases 2023 Corporate Responsibility Report: A Testament to Sustainability and Stakeholder Value Johannesburg, South Africa, 01 July 2024 – The Goodyear Tyre & Rubber Company (NASDAQ: GT) has unveiled its Corporate Responsibility Performance Report for 2023, showcasing its unwavering commitment to sustainability and value creation for both internal and external stakeholders. This comprehensive report…

Goodyears 2023 Sustainability Milestones

Goodyear Releases 2023 Corporate Responsibility Report: A Testament to Sustainability and Stakeholder Value

Johannesburg, South Africa, 01 July 2024 – The Goodyear Tyre & Rubber Company (NASDAQ: GT) has unveiled its Corporate Responsibility Performance Report for 2023, showcasing its unwavering commitment to sustainability and value creation for both internal and external stakeholders. This comprehensive report highlights the strides Goodyear has made towards its short- and long-term sustainability objectives.

Mark Stewart, Chief Executive Officer and President, emphasized, “Our dedication to sustainability and delivering value to our customers and stakeholders remains steadfast. The 2023 Corporate Responsibility Report illustrates how our global team continues to drive a better future, through innovative materials, strategic sustainability efforts, and community engagement.”

This year’s report introduces high-priority topics identified through a double materiality assessment conducted in late 2022, in accordance with Global Reporting Initiative (GRI) standards. These topics include Climate Decarbonization, Adaptation and Resiliency; Circularity; Human and Labor Rights; and Supply Chain Governance and Transparency. Key highlights from the report include:

Progress Toward Net-Zero Value Chain Emissions by 2050: Goodyear made significant progress in reducing its environmental footprint, achieving a 21.9 percent reduction in Scope 1 and Scope 2 greenhouse gas (GHG) emissions compared to its 2019 baseline. Additionally, the company increased its use of renewable electricity to 37 percent across its global manufacturing operations in 2023.

Product Development and Sustainable-Material Use: Goodyear is on track to meet its 2030 goal of introducing a 100 percent sustainable-material tyre. In December 2023, the company launched the EcoReady tyre in the United States, made with 70 percent sustainable materials. This innovative tyre incorporates soybean oil to reduce reliance on petroleum-based oil, high-quality rice husk ash silica to minimize landfill waste, and sustainably sourced natural rubber.

Fostering an Inspiring Culture: Goodyear invests in its associates’ growth through integrated talent management and learning development solutions that support a diverse and inclusive workplace. In 2023, membership in the company’s eight Employee Resource Groups (ERGs) grew by nearly 15 percent, and associate participation in the Global Week of Volunteering increased by 20 percent year-over-year.

Commitment to Sustainable Sourcing: Goodyear continues to manage its sourcing processes to reduce environmental and social impacts. In collaboration with the Global Platform for Sustainable Natural Rubber, the company funded a Capability Building Project in 2023 that trained nearly 5,000 farmers in Indonesia, enhancing their agricultural practices.

Goodyear’s 2023 Corporate Responsibility Report was prepared with reference to the GRI Standards, and the company’s Scope 1 and Scope 2 GHG emissions data has been verified by a third party.

The full 2023 Goodyear Corporate Responsibility Report is available on the Goodyear Corporate Responsibility website.


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