Mon December 12 08:00 am 2022 in category Company news
NOKIAN TYRES AGAIN INCLUDED IN THE DOW JONES SUSTAINABILITY INDEX – AMONG THE MOST SUSTAINABLE LISTED COMPANIES IN EUROPE
Nokian Tyres plc Company Release December 12, 2022, at 8:00 a.m.
Nokian Tyres has been included in the Dow Jones Sustainability Europe Index.
“Sustainability is one of the five cornerstones of Nokian Tyres’ strategy, and we are proud to be included in the Dow Jones Sustainability Index. We have ambitious targets in decreasing greenhouse gas emissions as well as increasing the share of renewable or recycled raw materials in our tires, naturally without compromising on safety. In early 2023, we will begin the construction of the first zero CO2 emission factory in the tire industry in Oradea, Romania,” says Teppo Huovila, Vice President, Quality and Sustainability.
Nokian Tyres scored 75 (out of 100) in the 2022 S&P Global’s Corporate Sustainability Assessment (score date: Nov 18, 2022). The company achieved a full score in the Product Quality and Recall Management, Environmental Reporting, and Social Reporting criteria, out of 23 total criteria covering Environmental, Social and Corporate Governance areas. Nokian Tyres was also industry* best in the criterion Occupational Health and Safety (82 points; *industry sector = Automotive components).
To be included in the Dow Jones Sustainability Europe Index means that the company is among the most sustainable listed companies in Europe. Only three companies were selected in the Dow Jones Sustainability Europe Index from the industry sectors Automobiles and Automotive components.
Nokian Tyres is proud to show leadership in sustainability. Here are some sustainability milestones on the journey:
- In May 2020, Nokian Tyres became the first tire company to have its Science Based Targets for decreasing CO2 emissions officially approved.
- Between 2015-2022, Nokian Tyres has reduced CO2 emissions from production by 43%.
- The rolling resistance of Nokian Tyres’ tires has been reduced by 8.5% on average, compared to year 2013. This equals to the exhaust fumes of 65,000 cars annually.
- Nokian Tyres aims to increase the share of either recycled or renewable raw materials in its tires to 50% by 2030.
- Nokian Tyres is committed to building the first zero CO2 emission factory in the tire industry in Oradea, Romania. Commercial tire production is expected to start there in early 2025.
Index lists Europe’s most sustainable companies
The DJSI Europe is comprised of corporate leaders in sustainability as identified by S&P Global. The S&P Global’s Corporate Sustainability Assessment focuses on criteria that are both industry-specific and financially material, and has been doing so since 1999.
For investors, this is a highly valued, comprehensive corporate sustainability assessment. The assessment of companies this year is mainly based on their performance in 2021. Only leading companies in each industry are included in the index each year. Over 3500 companies worldwide were included in S&P Global’s assessment.
You can learn more about Nokian Tyres’ work on sustainability on the company website.
Teppo Huovila, Vice President, Quality and Sustainability, tel. +358 10 401 7701