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January 22, 2020 04:00 PM

Pirelli, Yokohama earn top ratings for climate change response

Tire Business Report
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    LONDON—International tire makers Pirelli & C. S.p.A. and Yokohama Rubber Co. Ltd. have earned an "A" rating in an international organization's ranking of companies active in fighting climate change

    Pirelli and Yokohama are among 179 companies to earn an A rating from CDP Worldwide (formerly Carbon Disclosure Project), a London-based non-profit that gathers, distributes and promotes information on environmental issues.

    It's the second consecutive A rating for Pirelli.

    CDP, whose goal is to guide companies and governments to reduce greenhouse gas emissions and protect water and forest resources, gathers data related to environmental impacts, risks and opportunities. An independent evaluation of the data is used to calculate scores.

    The A rating takes into consideration the effectiveness of efforts made by an enterprise to reduce emissions and climate risks and to develop a low carbon-emission economy, as well as the completeness and transparency of information provided and the adoption of the best practices associated with climate impact, CDP said.

    Pirelli said the CDP's recognition confirms its "constant commitment" to questions of sustainability, an area in which the company already boasts a number of achievements, including: leadership in the automobiles and components sector on the Dow Jones World and Europe indices; "Gold Class distinction" in RobecoSAM's 2019 Yearbook; and inclusion among the companies of the United Nations' Global Compact Lead.

    The CDP also gave 43 cities worldwide an A rating.

    In 2019, more than 525 investors with assets of more than $96 trillion and 125 large-scale buyers with a buying power of $3.6 trillion called on companies to share this data through the CDP platform. More than 8,400 companies responded.

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