Bridgestone published its 2019-2020 Sustainability Report highlighting its new growth strategy as well as its efforts to contribute to the realization of a sustainable society. In this report, Bridgestone reveals New Mid-term Environmental Targets – Milestone 2030 – aiming to accelerate the company’s ambition toward “decoupling” to further reduce its environmental impact.
Bridgestone Reveals New Mid-term Environmental Targets
Bridgestone Corporation published its 2019-2020 Sustainability Report, detailing the Bridgestone Group’s new Mid-Long Term Business Strategy, as well as its efforts to contribute to the realization of a sustainable society.
“Sustainability is an indispensable part of all of the Group’s activities and are core elements of our growth strategies and corporate culture,” said Bridgestone’s Global CEO and Representative Executive Officer Shuichi Ishibashi. “Recognizing this, we have kicked off initiatives to more deeply integrate sustainability strategies into our daily operations. We see business and social opportunity in co-creating new value with our employees, partners, customers and others. We’re pleased to share more about our strategy and approach within this Sustainability Report.”
The Group has positioned 2020 as its “Third Foundation”, or “Bridgestone 3.0,” marking the start of a new chapter in its history. The Group has defined a vision of providing social value and customer value as a sustainable solutions company toward 2050 and established its Mid-Long Term Business Strategy to serve as a guide in accomplishing this vision. The Mid-Long Term Business Strategy positions sustainability at its core and enables the Group to secure a competitive advantage as it creates and grows value for both society and customers via its unique solutions activities.
Information on value co-creation activities can be found in the 2019-2020 Sustainability Report along with details on efforts to address social issues in accordance with Our Way to Serve, the Group’s corporate social responsibility (CSR) commitment and sustainability platform. The 2019-2020 Sustainability Report also contains the announcement of Milestone 2030, a new set of mid-term environmental targets to be accomplished by 2030. The Bridgestone Group succeeded in achieving its mid-term 2020 targets (Milestone 2020) in 2019, one year ahead of schedule. The new Milestone 2030 aims to accelerate the company’s ambition toward “decoupling,” or improving the overall efficiency of natural resource utilization, to further reduce its environmental impact and achieve its long-term environmental vision toward 2050 and beyond.
Based on these targets, the following efforts will be advanced to further reduce the Group’s environmental footprint:
Achieve economic growth while reducing environmental impacts through decoupling -Focused Target: Execute water stewardship plan at manufacturing facilities in water stress area*1 by 2030
Accelerate circular economy adoption in our business – Focused Target: Increase ratio of recycled and renewable material*2 to 40% by 2030
Reduce CO2 emissions across the product lifecycle and entire value chain to contribute to the realization of a carbon neutral society -Focused Targets:
1. Reduce our absolute CO2 emissions (Scope 1and 2) by 30% and aspire to reduce by 50% by 2030*3
2. Contribute to global CO2 emissions reduction across the lifecycle and value chain (Scope 3) of our products and services exceeding five times our operations’ (Scope 1 and 2) CO2 emissions by 2030 3/3
Bridgestone Group is actively contributing to the resolution of social issues and the accomplishment of the United Nations Sustainable Development Goals (SDGs). The Group will employ innovation and solutions to improve the way people move, live, work, and play.
*1 Manufacturing facilities that have water-related risks due to the locations with the risk of deterioration of fresh water resources in terms of quantity and quality
*2 Within total material weight for tire products including tire casing for retreading
*3 Base Year: 2011