Goodyear Increases Transparency, Progresses Toward Goals In Annual Corporate Responsibility Report

Rhea-AI Summary

The Goodyear Tire & Rubber Company (NASDAQ: GT) released its annual corporate responsibility report for 2019, showcasing its commitment to sustainable practices. Key highlights include a 90% increase in soybean oil usage, improved safety indicators, and advancements in predictive tire maintenance solutions. Additionally, Goodyear's diversity efforts led to an 84% growth in Employee Resource Group membership. The report aligns with Global Reporting Initiative standards, enhancing transparency. For more details, the full report is available online.

Positive

• 90% increase in soybean oil usage for tire production enhances sustainability.
• Improved safety metrics indicate a reduction in workplace injuries.
• Introduction of predictive servicing solutions enhances fleet management.
• 84% growth in Employee Resource Group membership reflects commitment to diversity.

Negative

• None.

AKRON, Ohio, Sept. 10, 2020 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) released its annual report on corporate responsibility performance. The report summarizes the company's actions in 2019 that demonstrate Goodyear's continued commitment to ethical and sustainable processes, materials and programs that can help people, communities and the environment.

"As the world continues to battle the COVID-19 pandemic and the uncertainty that brings, it's important to find steadiness where we can," said Richard J. Kramer, chairman, chief executive officer and president. "For Goodyear, that means relying on our foundation of ethical values, our commitment to responsible operations, our focus on the health and wellbeing of our associates, customers and communities, as well as our work to reduce our impact on the environment."

Goodyear's 2019 report features the following highlights following the four pillars established around its Better Future corporate responsibility framework:

Sustainable Sourcing: Sustainable sourcing is Goodyear's approach to responsibly sourcing materials used for operations and products. In 2019, Goodyear increased its use of soybean oil as a replacement for petroleum-derived oils by 90%. Soybean oil is now in four of the most popular tire lines, offering enhanced vehicle grip while increasing use of a more sustainable material.

Responsible Operations: In 2019, Goodyear improved leading and lagging safety indicators as work continues to reduce the risk of serious injuries in all facilities.

Advanced Mobility: In 2019, Goodyear's predictive servicing solution was piloted by several fleets, allowing them to forecast and schedule tire maintenance and replacement, improve overall tire management and maximize uptime across the fleet.

Inspiring Culture: As part of Goodyear's diversity and inclusion efforts, membership in Employee Resources Groups (ERG) grew 84% globally in the last two years. A seventh group, the Goodyear Asia, India, Middle East ERG, also was added.

Goodyear's 2019 report was prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core option, which resulted in increased transparency over previous reports. To access this year's report, visit https://corporate.goodyear.com/documents/responsibility/2019-corporate-responsibility-report.pdf

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What does Goodyear's 2019 corporate responsibility report highlight?

The report highlights a 90% increase in soybean oil usage, improved safety indicators, advancements in predictive servicing solutions, and significant growth in Employee Resource Group membership.

How does Goodyear demonstrate its commitment to sustainability?

Goodyear demonstrates its sustainability commitment by increasing the use of soybean oil in tire production and focusing on responsible sourcing materials.

What safety improvements did Goodyear report in 2019?

Goodyear reported improvements in both leading and lagging safety indicators, showing progress in reducing serious injury risks in its facilities.

What is included in Goodyear's sustainability practices?

Goodyear's sustainability practices include sustainable sourcing of materials, responsible operations, and advancements in mobility solutions.

Where can I find Goodyear's 2019 corporate responsibility report?

Goodyear's 2019 corporate responsibility report can be accessed online at their corporate website.