Geneva, 20 December 2023: The Tire Industry Project (TIP) has published an expanded report on the sustainability performance of its members, showcasing achievements including a 10% reduction in absolute CO2 emissions, a 31% increase in renewable electricity consumption, and a 90% rate of adoption of responsible sourcing policies.
The report – “Sustainability Driven: Key Performance Indicators for the Tire Sector, 2019-2022″ – has added KPIs and qualitative information relevant to the sustainability performance of tire industry operations beyond manufacturing. The report discloses the performance of TIP’s members against KPIs linked to environmental, social, and governance (ESG) themes, while continuing to report on established indicators such as energy consumption, CO2 emissions, water use, waste generation and ISO 14001 certification. Newly introduced KPIs include the rate of adoption of responsible sourcing policies, the percentage of members with validated science-based targets, the share of water withdrawals from water stressed areas, and the share of female representation in the workforce and on Boards of Directors.
“The KPIs provide a common set of measurements that can be used by tire manufacturers to assist their individual company efforts to improve their sustainability performance. With this report, we underline our commitment to improving the sustainability of the tire industry, and acknowledge that monitoring TIP member company progress, individually and collectively, will be critical to ensuring that the sector optimizes its contributions to the UN Sustainable Development Goals (SDGs),” said TIP Executive Director Larisa Kryachkova. “The new KPIs were selected, in part, to align with the tire industry’s strategic sustainability roadmap.”
The Roadmap – “Sustainability Driven: Accelerating Impact with the Tire Sector SDG Roadmap” – outlines seven Impact Pathways for tire manufacturers and serves as a guiding tool for the industry to individually and collectively address sustainability challenges while transitioning to a low-carbon, resilient and resource-efficient economy in alignment with the SDGs. As part of ongoing efforts to identify, monitor, and encourage sustainability actions, TIP will define additional KPIs relevant to the Roadmap’s Impact Pathways and include them in future editions of the KPI report.