AKRON — Goodyear has drafted a plan to reach net-zero value-chain greenhouse gas (GHG) emissions by 2050, a plan that includes the use of 100% renewable energy and increasing use of alternative raw materials.
The company plans to submit its 2030 and 2050 targets to SBTi for independent validation in 2022.
Using 2019 as a base year, Goodyear said it is committed to reducing its Scope 1 and 2 emissions by 46% by 2030 and relevant Scope 3 emissions by 28% over the same time frame.
"Goodyear's net-zero goal and alignment to SBTi reflect our commitment to sustainability and reducing our carbon footprint," Richard Kramer, chairman, CEO and president, said.
"As one of the world's largest tire manufacturers, we are committed to doing our part to implement transformative changes that will help protect our planet for future generations and build a more sustainable business for all of our stakeholders."
The strategy to achieve these targets will expand on Goodyear's other sustainability-focused efforts, which will contribute to the company's goals, such as:
- Converting its facilities across Europe, Middle East and Africa to 100% renewable energy in a multiple-phase plan by year-end 2022.
- Leveraging its expertise in rubber compounding, construction and manufacturing to yield lower rolling resistance and reduce tire weight, which contribute to reduced emissions;
- Developing a 100% sustainable-material and maintenance-free tire by 2030 by using alternative raw materials, moves that have the potential to reduce its consumption of petroleum-based feedstocks and reduce its carbon footprint.
Goodyear's new climate goals come after a comprehensive carbon-inventory assessment, the company said, which included collecting data from its operations and quantifying GHG emissions throughout its value chain.
The company also plans to adopt disclosures aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework, adding to its existing Global Reporting Initiative (GRI)-based sustainability disclosures.
The SBTi's Corporate Net-Zero Standard is considered the world's first framework for corporate net-zero target setting in line with climate science. It includes the guidance, criteria, and recommendations companies need to set science-based net-zero targets consistent with limiting global temperature rise to 1.5°C.
The Net-Zero Standard provides a common, robust and science-based understanding of net-zero, thus providing business leaders clarity and confidence that their near- and long-term targets are aligned with accepted climate science.
Development of the Net-Zero Standard followed a thorough, inclusive, and transparent process, SBTi said. This emphasizes input and expertise from a diverse range of stakeholders and close consultation with an independent expert advisory group formed of experts from academia, civil society, science and business.