Goodyear Highlights Evolving Commitment to Corporate Responsibility in Annual Report
- Goodyear's 23rd annual corporate responsibility report summarizes its continuous improvement actions across its global operations.
- Report shows progress through new strategic focus areas, expanding the company's corporate responsibility strategy, Goodyear Better Future.
- Goodyear continues efforts to sustainably source raw materials, foster a culture of safety and health, shape the mobility revolution and increase talent engagement.
AKRON, Ohio, June 11, 2019 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its annual report on corporate responsibility performance. The report summarizes the company's actions in 2018 through four new strategic focus areas that demonstrate Goodyear's commitment to ethical and sustainable practices to protect the planet, give back to the community, provide a safe, diverse and healthy workplace, and engage employees in these efforts.
Goodyear's standard for success for 120 years has been based on a commitment to continuous improvement and innovation. Recognizing that improvement and innovation expectations and opportunities evolve, the company has expanded its corporate responsibility strategy, Goodyear Better Future, to encompass the topics that drive the most value for our business and our customers, consumers, investors, employees and communities.
"Today's consumers favor convenience, safety, and advanced technologies, and many are socially conscious—wanting the brands they buy to be a part of solving the environmental and social challenges of our time," said Richard J. Kramer, chairman, chief executive officer and president. "Goodyear has been listening, preparing and innovating and we are excited to share how we plan to help shape the new mobility ecosystem and create long-term value for our stakeholders."
The 2018 report explains why the company's new focus areas are important to Goodyear and stakeholders, how each supports Goodyear's Strategy Roadmap, and what the company is doing to manage impacts, risks and opportunities. Some highlights include the following:
Sustainable Sourcing: At Goodyear, sustainable sourcing is our approach to responsibly sourcing the materials used for our operations and products. In 2018, Goodyear formalized its commitment to responsibly source natural rubber with the creation of a Natural Rubber Procurement Policy, which works to address various social, environmental, and economic concerns and opportunities associated with the production of this important commodity.
Responsible Operations: Goodyear's Strategy Roadmap speaks to our commitment to operational excellence. Our day-to-day efforts to deliver high-quality products in an efficient manner are supported by a culture of safety and health. In 2018, Goodyear was recognized by Honda North America with the Supplier Sustainability Award, and received the Subaru of Indiana Automotive, Inc. (SIA) Excellent Performance Award for superior performance related to safety, environmental stewardship, quality, delivery and partnership.
Advanced Mobility: Developing advanced forms of mobility—especially focused on autonomous, connected, and electric vehicles—are transforming the tire industry and have the potential to make driving safer and more sustainable. Goodyear is positioned for success through our commitment to innovation, and we have already made several great strides toward shaping the mobility revolution.
In 2018, Goodyear launched a proactive services pilot program to provide predictive analytic maintenance for fleet tires. With our proprietary artificial intelligence technology, Goodyear will help fleets predict when their tires need service or replacement, improving overall tire management and maximizing uptime across the fleet.
Inspiring Culture: Engaging and enabling our associates to realize their full potential is one of the core tenants of Goodyear's Strategy Roadmap. Over the past year, the company continued its support of current and future associates. Since 2016, The Manufacturing Institute has recognized Goodyear associates annually with STEP Ahead awards. The prestigious honor acknowledges women in manufacturing who have demonstrated leadership skills and excellence both in their careers and communities.
"None of the above accomplishments would be possible without our associates, who are the driving force behind Goodyear's success. Our team operates with the highest integrity and embraces change, collaboration and seizes opportunities to deliver increased value to our stakeholders. Together, we are striving to foster a culture of safety and wellness and a diverse and inclusive work environment where all can thrive, as part of our continual efforts to make Goodyear the tire brand of choice," added Kramer.
Goodyear follows the Global Reporting Initiative (GRI) standard in its corporate responsibility reporting. To access this year's report, visit: http://bit.ly/2WBwZAU
About Goodyear Better Future
Corporate responsibility continues to be an integral part of Goodyear's business strategy, and our expanded corporate responsibility strategy, Goodyear Better Future, will help us drive sustainable growth while increasing the positive impact of our brand. It serves as a framework for Goodyear's commitment to protect the planet, give back to the community, provide a safe, diverse and healthy workplace and engage employees in these efforts. For more information about Goodyear Better Future, visit: http://bit.ly/2U1GVlb
About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 64,000 people and manufactures its products in 47 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.
SOURCE The Goodyear Tire & Rubber Company
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