Finnish group Nokian Tyres is the first company to have its greenhouse gas (GHG) reduction targets approved by the Science Based Targets initiative (SBTi).

 

A collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature, the SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

 

Nokian Tyres said this comes as part of its commitment to cut GHG emissions by 40 per cent per tonne of tyres in the next 10 years.

 

Inspired by its Scandinavian heritage, Nokian crafts innovative products for passenger cars, trucks and heavy machinery. The Finnish group's Vianor chain provides tyres and car services. 

 

In 2019, the company’s net sales were €1.6 billion ($1.72 billion) with a 4,700-strong workforce.

 

Nokian Tyres commits to reduce GHG emissions by 2030 in the following categories:

 

*Scope 1 and 2 GHG emissions by 40% per ton of tires from a 2015 base year

 

*Scope 3 GHG emissions from purchased goods and services by 25% per ton of tires from a 2018 base year

 

*Scope 3 GHG emissions from upstream and downstream transportation and distribution by 25% per ton of tires from a 2018 base year

 

*Scope 3 GHG emissions from the use of sold products by 25% per ton of tires from a 2018 base year.

 

In the SBTi’s target assessment report, Nokian Tyres’ targets were considered ambitious, said the company in a statement.

 

The targets covering GHG emissions from Nokian Tyres’ operations (scopes 1 and 2) are consistent with reductions required to keep climate warming to 1.5°C, what the latest climate science has told us is needed to prevent the most damaging effects of climate change, it added.

 

Nokian Tyres President and CEO Hille Korhonen said: "We have already witnessed a practically snowless winter in Southern Finland and are committed to doing our part in saving winters for future generations."

 

"During the last six years, we have already reduced our greenhouse gas emissions by 44%, and the work continues," he added.-TradeArabia News Service