Nokian Tyres says it has announced its 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 in its work on sustainability.
The company says an important factor in achieving the net-zero target will be the new factory that Nokian Tyres is building in Oradea, Romania. It will be the first zero CO2 emission factory in tire industry, according to Nokian Tyres. The construction will begin soon, and commercial tire production is expected to start in early 2025.
In its 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.
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 all-time low. The greenhouse gas emission intensity from Nokian Tyres factories has decreased by 43% compared to year 2015. Additionally, the company was again included in the Dow Jones Sustainability Europe index.
Nokian Tyres says 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. 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.