NEXEN TIRE, a leading global tire manufacturer, today released its fourth annual Sustainability Report, detailing progress towards its sustainable management performance and other environmental, social and governance (ESG) commitments. The report highlights the tire maker’s ESG developments, progress and focus as well as details expanding a mid-to-long-term roadmap for ESG management.
The report has been prepared in line with the Global Reporting Initiative (GRI) Standards content and quality principles to ensure information accuracy, clarity and reliability. These standards enable greater transparency and accountability of organizations, by enhancing global comparability and quality of information around ESG performance. The information covers all NEXEN owned manufacturing and research facilities worldwide.
The 2023 Report covers numerous topics including accomplishments and goals in the following key areas of environmental, social, and governance (ESG):
- NEXEN TIRE’s Central Research Institute is undertaking various research and development initiatives to minimize the environmental impact throughout the entire process, from raw materials of products to the stages of use and disposal of finished products.
- NEXEN TIRE showcased its sustainable-material demonstration tire composed of 52% sustainable materials.
- NEXEN TIRE took part in various environment and society focused activities, including cultivating a forest for biodiversity.
- NEXEN TIRE will reduce carbon emissions in the overall production process, and in order to achieve the RE100 goal, the company will actively consider the application of renewable energy.
- NEXEN TIRE established a sustainability management committee led by the company’s chief operating officer comprised of senior leadership team in order to achieve systematic and professional ESG management goals.
The 2023 report also notes the company’s membership to the UNGC to comply with ten sustainability principles. These principles consider business’s basic responsibilities in the areas of human rights, labor, the environment, and anti-corruption.