GlobalData offers a comprehensive analysis of Nokian Tyres, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Nokian Tyres‘s ESG performance. GlobalData’s company profile on Nokian Tyres offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Nokian Tyres, a leading tire manufacturer, is committed to reducing its carbon emissions as part of its sustainable development strategy. Nokian Tyres has also established specific goals related to scope 1, scope 2, and scope 3 emissions, which include direct emissions from its operations, indirect emissions from purchased energy, and emissions from its value chain. The climate objectives align with the CO2 emissions reduction targets endorsed by the Science-Based Targets initiative.
Nokian Tyres is diligently advancing towards its goal of reducing CO2 emissions from tire production (scope 1+2) by over 50% by the year 2030, with 2015 as the base year. As of 2022, the company has made significant progress, achieving a 43% decrease from the 2015 levels, indicating a successful execution of its planned initiatives. In 2022, the company reported specific emission data for tire production. Scope 1 emissions were 63,200 tons of CO2eq, location-based scope 2 emissions were 38,870 tons of CO2eq, market-based scope 2 emissions were 17,070 tons of CO2eq. Additionally, Scope 3 emissions totaled 5,391,700 CO2eq.
Nokian Tyres has taken several steps to reduce its environmental impact. The company has implemented processes to remediate negative impacts, comply with laws and regulations, and engage with stakeholders. It has also made investments in reducing emissions, such as improving the rolling resistance of its tires. Nokian Tyres is also actively working to decrease energy consumption, ensure the safest use of chemicals, improve energy efficiency, optimize waste and water management, promote recycling, and enhance environmental awareness through personnel training.
In conclusion, Nokian Tyres is committed to carbon reduction, aligning its climate goals with Science-Based Targets. The company invests in emission reduction, including enhancing tire rolling resistance, to cut GHG emissions. Initiatives improve efficiency, optimize waste and water management, and promote recycling while fostering environmental awareness through personnel training.