Hankook Publishes 2022-23 ESG Report
Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.
This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.
Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.
Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.
With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.
Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.
Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.
Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.
Michelin Channels $771,000 to Community Groups Through Annual Golf Event
- By TT News
- November 24, 2025
Michelin North America, Inc. has channelled the proceeds from its latest annual charity golf tournament, a total of USD 771,000, to 10 community organizations across the United States and Canada. This year’s event was particularly notable for including the company’s first-ever Canadian charitable partner. Since the tournament's establishment in 1989, it has collectively raised over USD 10 million, reflecting Michelin’s enduring commitment to creating a tangible and positive impact in the communities where its employees live and work.
The range of beneficiaries highlights a focus on critical community needs, from child welfare and education to veteran support and cultural enrichment. In Canada, the Breakfast Club of Canada will use the funds to address child hunger by ensuring children have access to a nutritious morning meal, which is essential for their concentration, energy and overall capacity to learn. Meanwhile, in South Carolina, several organisations will benefit. The Champions Center for Special Children offers a therapeutic and educational environment for children with disabilities and complex medical needs. The Greenville Symphony Association continues its long-standing mission to enrich the community through live orchestral performances and educational programmes. Support also extends to the SC School for the Deaf and the Blind Foundation, which provides students with essential supplies and adaptive equipment, and Upstate Warrior Solution, which offers comprehensive services to veterans and first responders with the goal of ending unemployment, homelessness, and suicide.
Further afield, the funding will empower organisations dedicated to advocacy and care. In Emporia, Kansas, SOS, Inc. provides crucial support for victims of sexual and domestic violence, child abuse and human trafficking, offering shelter, resources and community education. Similarly, in Ardmore, Oklahoma, Sara’s Project operates as a children’s advocacy centre, delivering forensic interviews, victim advocacy and crisis education for families affected by trauma and abuse. In Norwood, North Carolina, Tillery Compassionate Care provides hospice and supportive care, aiming to bring hope and peace to nearly 7,600 seriously ill residents it has served since its founding.
The national scope of Michelin's philanthropy is further demonstrated by its support for Junior Achievement of Kentuckiana, which has empowered over 1.5 million youth with financial literacy and career skills, and the Best Defense Foundation. This latter organisation is dedicated to honouring military veterans by providing healing experiences and fostering connection, operating on the powerful principle of taking care of those who served the nation. Through this diverse and strategic charitable investment, Michelin continues to foster stronger, more resilient communities across North America.
Matt Feller, Director of Community Relations at Michelin North America, Inc, said, “Thanks to the generosity and support of our employees, partners and suppliers, this event continues to make an impact. Michelin is committed to being a responsible corporate citizen through philanthropic initiatives and active engagement in local communities. We foster local development and strengthen connections in the communities where our employees live, work and serve. We are proud to welcome Breakfast Club of Canada as our first Canadian beneficiary, alongside nine other organisations serving communities in Upstate, South Carolina; Emporia, Kansas; Ardmore, Oklahoma; Norwood, North Carolina; Louisville, Kentucky; and Solana Beach, California.”
Nokian Tyres Finalises Finnish Restructuring With Fewer Layoffs Than Feared
- By TT News
- November 24, 2025
Nokian Tyres has finalised a significant organisational restructuring in Finland, resulting in workforce reductions designed to enhance its financial performance and operational efficiency. The company will eliminate 35 permanent white-collar roles and will also reassign job responsibilities as part of this change. This outcome is less severe than initially projected, as the company had originally estimated up to 55 permanent layoffs. These measures are scheduled to be fully implemented by the end of 2025.
Furthermore, the plan includes temporary layoffs for approximately 650 production employees, both blue-collar and white-collar, at its passenger car and heavy tyre facilities in Nokia. These temporary furloughs, which will be enacted by the end of 2026, will not exceed 90 days for any individual worker. This initiative, first announced in October 2025, is part of a broader global strategy. While the Finnish negotiations are complete, the company continues to undertake similar processes in its other international operations in compliance with local regulations.
Kenda Tires Shines At 2025 Formula Drift Tire Cup
- By TT News
- November 24, 2025
The 2025 Formula DRIFT season served as a powerful demonstration of Kenda Tires' rising status in professional drifting, culminating in a second-place finish in the Tire Cup standings. By amassing 429 points and outperforming several established competitors, Kenda solidified its reputation for delivering consistent, high-calibre performance under extreme pressure. This collective achievement was driven by the standout performances of its team of drivers, who validated the company's technical innovation across eight challenging events.
Fredric Aasbø led the charge with a remarkable third-place finish in the PRO Championship, a campaign highlighted by a victory at the season opener in Long Beach. His success, along with Jhonnattan Castro’s career-best seventh-place result and the steady technical prowess of Ryan Tuerck, provided the essential points that secured Kenda’s strong position in the Tire Cup. Their collective performances were a live proving ground for the Kenda VEZDA UHP MAX+ tyre, a product engineered to endure the severe demands of competitive drifting, including intense heat cycles and extreme lateral forces.
This motorsport success is intrinsically linked to Kenda’s core Podium2Pavement philosophy, a principle that ensures every lesson from the track directly informs the development of their consumer tyre lines. The technology and resilience demonstrated by their professional drivers are systematically translated into enhanced performance and durability for everyday ultra-high-performance and passenger tyres. Building on this successful 2025 campaign, Kenda is now focused on the future, aiming to further advance its tire technology, strengthen its driver partnerships and mount a determined challenge for the 2026 Tire Cup championship.
Brandon Stotsenburg, Vice President – Automotive, Kenda USA, said, “Finishing second among all tyre manufacturers in Formula DRIFT validates the strength of our product and our people. Our teams, engineers and drivers have worked tirelessly to refine performance under the toughest motorsport conditions. Kenda, uniquely provided (6) six different sizes for our Formula Drift teams that allowed them to adapt the tire to the car’s performance which was outstanding in both wet and dry conditions. The results show that Kenda can compete head-to-head with the biggest brands in the world – and deliver proven results on and off the track.”
wdk Initiative Champions Conveyor Belts As Economic, Environmental Backbone
- By TT News
- November 22, 2025
A new industry initiative is highlighting the indispensable role of advanced conveyor belts, positioning them as a critical yet often overlooked technology underpinning the global economy. The German Rubber Industry Association (wdk), through its campaign ‘Rubber – We save the world!’, is emphasising the sophisticated engineering of these systems.
According to Volker Krings, Chief Chemist of the association in Frankfurt am Main, these belts function as a combined pathway and container, a duality made possible only through the complex integration of rubber, thermoplastics and plastics, reinforced with steel cables or textile fabrics. This core structure is supported by a system of rubber-coated rollers, drums and scrapers.
While the public most commonly encounters these systems at airport luggage carousels or supermarket checkouts, their most significant applications operate largely out of sight, pointed out Krings. They are the backbone of logistics in parcel sorting centres and are deployed on a massive scale in the mining and raw materials sectors. In these industries, extensive conveyor networks transport immense volumes of ore, coal and gravel over vast distances, both underground and on the surface. Their utility further extends to agriculture, food processing and automotive manufacturing.
The environmental and economic argument for these systems is compelling. Conveyor belts represent the most cost-effective method for moving large quantities of bulk goods. By assuming this burden, they significantly reduce the volume of heavy truck and rail traffic, leading to direct benefits for road infrastructure and the environment. The German production of these belts is a high-tech field, where ongoing optimisation of rubber compounds and belt architecture continues to drive down the energy consumption of the entire conveyor system.
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