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Goodyear Shares Sustainability Progress in 2023 Corporate Responsibility Report
AKRON, Ohio, June 27, 2024 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its report on corporate responsibility performance
About this update from The Goodyear Tire & Rubber Company
[{"type":"text","content":"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.\n\n \n \n \n \n \n \n\n \nChief 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.\"\nThe 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.\nProgress 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.\nProduct 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.\nFostering an Inspiring Culture: Goodyear helps its associates reach their full potential through integrated talent management and le...