Nexen Tire Sustainability Profile
Nexen Tire Corporation, commonly referred to as Nexen Tire, is a leading global tyre manufacturer headquartered in South Korea (KR). Established in 1942, the company has made significant strides in the automotive industry, with a strong presence in major operational regions including North America, Europe, and Asia. Nexen Tire is renowned for its innovative approach to tyre design and production, offering a diverse range of products such as passenger car tyres, SUV tyres, and high-performance tyres. Their commitment to quality and cutting-edge technology sets them apart in a competitive market. With a focus on sustainability and performance, Nexen Tire has garnered numerous accolades, solidifying its position as a trusted name in the tyre industry. The company continues to expand its global footprint while maintaining a dedication to excellence and customer satisfaction.
DitchCarbon Score
How does Nexen Tire's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Furniture Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Nexen Tire's score of 37 is higher than 61% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Nexen Tire's reported carbon emissions
In 2022, Nexen Tire Corporation reported total greenhouse gas emissions of approximately 72,872,100 kg CO2e for Scope 1 and about 291,846,300 kg CO2e for Scope 2, resulting in combined Scope 1 and 2 emissions of around 364,718,500 kg CO2e. This marked a slight increase from 2021, where emissions were approximately 67,533,400 kg CO2e for Scope 1 and 300,762,800 kg CO2e for Scope 2, totalling about 368,296,200 kg CO2e. Nexen Tire has set ambitious climate commitments, aiming for a near-term reduction of 58.8% in absolute Scope 1 and 2 emissions by FY2034 from a FY2023 baseline. Additionally, the company plans to reduce Scope 3 emissions from purchased goods and services and fuel- and energy-related activities by 35% within the same timeframe. These targets align with the Science Based Targets initiative (SBTi) classification for a 1.5°C pathway. In terms of past achievements, Nexen Tire's domestic and European plants successfully reduced GHG emissions by about 23,000 tonnes CO2e in 2020 compared to the previous year. The company is also strategically planning to expand the use of renewable energy, with goals set for achieving RE100 by 2039 for overseas plants and by 2045 for all plants. Overall, Nexen Tire is actively working towards significant emissions reductions while enhancing its sustainability practices in the tyre manufacturing sector.
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| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|---|
| Scope 1 | 32,040,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 174,341,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | - | - | - |
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Nexen Tire's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Nexen Tire has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
