NASHVILLE—Sustainability in the tire industry continues to be a key driver for the Hankook Tire & Technology Co. Ltd.
The Seoul-based tire maker said it has committed to the Science Based Targets initiative (SBTi) by submitting its targets for reducing greenhouse gas (GHG) emissions from its operations.
According to Hankook, the SBTi is a partnership between CDP (formerly Carbon Disclosure Project), the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
More than 3,600 companies in the world are working with the SBTi to set, measure and report science-based reduction targets in line with the Paris Agreement, a legally-binding international treaty on climate change.
Hankook joined the SBTi initiative in March this year as the first tire manufacturing company in Korea, where it is headquartered. In August, the company submitted its mid- to long-term science-based emissions reduction targets. The validation is expected in early 2023.
The company said it will reduce its Scope 1 and 2 emissions that occur during the production stage by 46.2 percent from its 2019 baseline by 2030. Hankook also has pledged to curtail Scope 3 emissions in its value chain by 27.5 percent from its 2019 baseline by 2030. This includes the reduction of all greenhouse gases generated from raw material acquisition, distribution, investment, production and other major business activities.