Bridgestone details sustainable future in 3.0 report

TOKYO—In the new publicly released "Bridgestone 3.0 Journey 2022 Integrated Report," the tire maker outlines its vision and key values for the future as it evolves into a "sustainable solutions company."

The company aims for carbon neutrality with 100-percent sustainable materials by 2050.

Tokyo-based Bridgestone Corp. said the report provides "stakeholders with a more comprehensive and better understanding of its approach and initiatives aimed at enhancing corporate value over the medium- to long-term while deepening dialogues with them."

The vision, the company said in the report, is "toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company."

The Bridgestone 3.0 Journey represents the "third foundation," the company said. The first foundation started with the founding of the company in 1931, and the second started in 1988 when Bridgestone and Firestone merged. The third (Bridgestone 3.0) started in 2020, when the company announced that sustainability would be at the core of the business moving forward.

"We will accelerate the 'Bridgestone 3.0 Journey' toward a sustainable solutions company together with employees, society, our partners and customers with the Bridgestone E8 Commitment as the axis to drive management while earning the trust of future generations," Global CEO Shu Ishibashi said. "I hope this report will become an opportunity to earn your empathy toward our mission, vision and corporate activities. For the sake of the Earth, which future generations of children have entrusted in our care, would you join us our journey?"

Much of the report emphasizes the Bridgestone E8 Commitment that the company unveiled in March. The E8 Commitment is focused on sustainability, and new products and initiatives must touch on one of eight values (starting with the letter E).

Here is how the company defines each value of the Bridgestone E8 Commitment:

• Energy: Committed to the realization of a carbon neutral mobility society;
• Ecology: Advancing sustainable tire technologies and solutions that preserve the environment for future generations;
• Efficiency: Maximizing productivity through the advancement of mobility;
• Extension: Committed to non-stop mobility and innovation that keeps people and the world moving ahead;
• Economy: Maximizing the economic value of mobility and business operations;
• Emotion: Inspiring excitement and spreading joy to the world of mobility;
• Ease: Bringing comfort and peace of mind to mobility life; and
• Empowerment: Contributing to a society that ensures accessibility and dignity for all.

The June 22 opening of Bridgestone's Advanced Tire Production Center (ATPC) in Akron, where it will produce Firestone Firehawk race tries, aligns with the "Emotion" and "Energy" values of the Bridgestone E8 Commitment.

The ATPC inspires "emotion," the company said, because it is where they will build some of their most advanced tires, it's the first new tire plant in the city in more than 70 years (a place the company has operated in for more than a century), and it is part of $125 million invested into Akron operations since 2012. When it comes to "Energy," the facility uses 60 percent less energy than the company's previous race tire plant. It has a more compact building footprint, insulated roofing, a more efficient boiler system, and high-mounted LED lighting throughout the plant. Additionally, Bridgestone purchased carbon offsets to cover the balance of its energy use to achieve carbon neutral operations at the ATPC.

Financials for 2021 show Bridgestone's revenue was $28.22 billion. The Americas represent a majority in key categories, including 43 percent of revenue. Tire production volume was 1.78 million tons of rubber, 33 percent for the Americas market, and 39 percent of Bridgestone's 135,636 employees work in the Americas.

See the report here.