Goodyear Tire & Rubber Co. had its greenhouse gas reduction targets validated by the Science Based Targets initiative (SBTi).
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SBTi evaluated Goodyear's Scope 1 and Scope 2 near-term target ambition and determined it is line with a trajectory of limiting warming to 1.5 degrees Celsius above pre-industrial levels. It also evaluated the company's Scope 1, 2 and 3 long-term target ambition and determined it was aligned with the SBTi's 1.5-degree Celsius mitigation pathways for reaching net-zero greenhouse gas emissions by 2050.
"It is through the hard work of our team and their collaborative efforts with partners across our value chain that we are able to identify opportunities and build sound strategies to help us reach both our near- and long-term climate goals," says Richard J. Kramer, chairman, CEO and president of Goodyear. "The SBTi's validation of our greenhouse gas emissions targets further strengthens our sustainability commitments."
Goodyear says it's committed to using 100% renewable electricity in all manufacturing facilities by 2030 and 100% renewable energy in all manufacturing facilities by 2040, developing a tire made of 100% sustainable materials by 2030 and replacing all petroleum-derived oils in its products by 2040.
The SBTi is a partnership between CPD, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. At the end of 2022, more than 4,000 companies covering over a third of the global economy's market capitalization were setting targets or committing to do so via the SBTi. Just over 2,000 companies have had their targets validated by SBTi.
