Finnish manufacturer Nokian Tyres has announced its commitment to further reduce greenhouse gas emissions - aiming to achieve the Net-Zero Standard by 2050.
Heavy duty tyre manufacturer Nokian Tyres says it has officially 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.
“Committing to net-zero is a natural continuation of our work for the environmentand our aim to be the leader in sustainability in tire industry,” says Teppo Huovila, Vice President, Quality and Sustainability at Nokian Tyres.
Nokian says an important factor in achieving the net-zero target will be the new factory that it is building in Oradea, Romania. It will be the first zero CO2 emission factory in the tire industry. The construction will begin soon, and commercial tire production is expected to start in early 2025.
Nokian says sustainability is one of the cornerstones of its strategy, and the net-zero commitment builds on the sustainability work that has been done for years regarding the entire product life cycle and all of the functions.
In the Corporate Sustainability Report 2022 Nokian Tyres describes the company’s latest work on sustainability in terms of product liability and safety as well as social, economic, and environmental responsibility.
The company points to 2022, first complete year when there was zero waste to landfill from production, as a highlight in the report. Nokian also says its greenhouse gas emission intensity from its factories decreased by 43% compared to 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. The net-zero goal inspires us to drive innovation to address climate change – and succeed together. Taking action today will future-proof our business,” Huovila says.
The Corporate Sustainability Report 2022 has been prepared in accordance with the GRI Standards, and it has been assured by an independent third party.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
Nokian Tyres was the first tire company to have its science-based targets for reducing greenhouse gas emissions approved by the Science Based Targets initiative in 20200.
Nokian says 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.