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.

Comments (0)

ADD COMMENT

Link Copied!

Goodyear is significantly broadening its award-winning UltraGrip Performance 3 tyre line, expanding the range to 344 stock-keeping units across Europe. The addition of 66 new SKUs marks a major milestone, as the company now offers the most extensive winter tyre coverage available from a single tread pattern. This strategic move simplifies the selection process for customers while extending proven performance to a wider array of vehicles.

The European automotive landscape now encompasses everything from compact city cars to high-performance electric vehicles and large SUVs. With this expansion, Goodyear is establishing a new benchmark for how comprehensively a singular winter tyre design can address this evolving market. By achieving this broad coverage through one pattern, the brand differentiates itself from competitors who often require multiple designs.

The newly introduced SKUs represent entirely new fitment opportunities, allowing Goodyear to serve vehicle models previously beyond its winter portfolio. Over 90 percent of the new additions are in sizes of 19 inches and above, with the entire range now spanning from 14 to 23 inches to accommodate Europe's changing vehicle parc.

This growth reinforces Goodyear's presence in both replacement and original equipment markets, featuring 59 new replacement SKUs and 7 OE fitments. The replacement segment now includes options for models like the Volvo EX60 and BMW X3 M50, as well as electric vehicles such as the Škoda Elroq RS. New OE partnerships have been secured with major manufacturers, including the BMW iX3, Porsche Cayenne Electric and Mercedes-Benz GLC EQ.

The tyre's reputation is validated by securing first place in the ADAC Winter Tire Test for both 2024 and 2025, with ADAC predicting a lifespan of 76,500 kilometres. Strong braking and handling on snow, wet and dry roads are achieved through Snow Protect and Wet Grip technologies. Designed for both electric and traditional vehicles, the tyre also features reduced rolling resistance and lower interior noise for a refined driving experience.

Ben Glesener, Senior Technology Director, Product Development Consumer EMEA Goodyear, said, “Today’s winter tyre market is more complex than ever, with more vehicle types, sizes and requirements than before. By offering 344 SKUs within a single winter tyre pattern, UltraGrip Performance 3 cuts through that complexity, making it easier to choose a tyre that delivers proven performance across a wide range of vehicles.”

Comments (0)

ADD COMMENT

Link Copied!

Bridgestone has extended its market leadership in Thailand’s automotive sector by securing the ‘Marketeer No.1 Brand Thailand 2026’ award in the car tyre category, marking its 15th consecutive year of top consumer preference. The accolade, determined through a nationwide opinion poll, underscores the brand’s enduring resonance with Thai motorists. Yusuke Kosami, Division Manager of Business Planning at Bridgestone Sales (Thailand) Co., Ltd., formally accepted the trophy from Marketeer Magazine’s Editor and Founder, Permpol Popermhem, during a ceremony held at the Chadra Ballroom of Siam Kempinski Hotel in Bangkok.

The annual recognition programme, organised by Marketeer magazine, derives its findings from extensive research conducted by Marketing Move Co., Ltd., a specialised research and consultancy firm. This year’s survey assessed consumer sentiment across 123 distinct product categories, drawing on responses from over 6,500 participants located throughout the country. The comprehensive methodology was designed to pinpoint the most favoured brands among Thai consumers for the calendar year 2026.

With this latest honour, Bridgestone reaffirms its dominant position in Thailand’s competitive tyre industry, demonstrating consistent brand strength and consumer trust over more than a decade. The award not only highlights the company’s product quality but also reflects its successful long-term engagement with local customers, as validated by independent market research.

Kosami said, "Winning the Marketeer No.1 Brand Thailand Award for the 15th consecutive year is a reflection of the trust that Thai consumers have placed in Bridgestone over many years. We sincerely thank our customers, business partners, employees and all stakeholders for their continued trust and support. For nearly six decades, Bridgestone has been proud to grow together with Thailand. Guided by our mission of 'Serving Society with Superior Quality’, we will continue to deliver high-quality products and trusted services that meet the evolving needs of Thai consumers.

“Recently, we introduced the new BRIDGESTONE POTENZA SPORT EVO, our latest premium sports tyre designed for both ultra-high-performance vehicles and electric vehicles (EV Ready). The launch reflects our commitment to providing advanced mobility solutions that combine safety, outstanding performance and driving confidence. Beyond our products, we will continue to enhance customer experiences through our nationwide COCKPIT service network, providing reliable and comprehensive automotive services across Thailand. This prestigious recognition inspires us to continue creating greater value for Thai consumers while contributing to a safer and more sustainable mobility society for future generations. Every journey begins with trust, and we look forward to continuing that journey together with Thai consumers for many years to come."

Comments (0)

ADD COMMENT

Link Copied!

Michelin reported a resilient performance in the first half of 2026 despite unfavourable exchange rates and continued weakness in original equipment (OE) tyre markets, as strong demand for premium replacement tyres and lower raw material costs supported profitability. The French tyre maker also reaffirmed its full-year guidance, expressing confidence in its ability to navigate geopolitical uncertainty and competitive pressures.

Group revenue stood at EURO 12.69 billion, down 2.6 percent from a year earlier on a reported basis. However, at constant exchange rates, revenue grew 0.5 percent, with a stronger euro reducing reported sales by 3.1 percent.

Michelin's core operating performance improved during the period. Segment operating income stood at EURO 1.45 billion, with the operating margin improving to 11.4 percent  from 11.1 percent  a year earlier. Excluding currency movements and changes in business scope, operating income rose 7 percent , driven by premium product sales, better pricing and lower raw material costs.

Cash generation also strengthened significantly. Free cash flow before mergers and acquisitions improved to EURO 282 million, compared with a negative EURO 102 million in the first half of 2025, while gearing remained at 26 percent , reflecting a net debt position of EURO 4.55 billion.

Premium replacement demand offsets OE weakness

Michelin said sales of MICHELIN-branded replacement tyres increased 5 percent, supported by premium products and larger rim-size tyres. The company said higher sales of premium tyres and the acquisitions of Cooley Group and Flexitallic helped offset weaker OE demand and lower volumes in Tier-2 and Tier-3 brands.

Lower raw material costs also boosted profitability, offsetting higher manufacturing, logistics and tariff-related expenses. However, net income declined to EURO 766 million from EURO 840 million due mainly to a lower contribution from equity-accounted companies.

Consumer business leads performance

The Consumer segment remained Michelin's largest earnings contributor, reporting revenue of EURO 6.93 billion and an operating margin of 12.5 percent , supported by strong replacement demand, particularly for the MICHELIN Primacy 5 Energy and Pilot Sport 5 Energy ranges.

The Transportation division improved its operating margin to 5.9 percent  despite continued weakness in North America's truck OE market, while the Specialty segment maintained a 14.1 percent  operating margin as strong mining and aircraft tyre demand offset weakness in agricultural OE markets.

The Polymer Composite Solutions business delivered the fastest revenue growth, rising 14 percent  to EURO 728 million, largely due to acquisitions, although margins were affected by weaker demand for conveyor products.

Regional tyre markets remain mixed

Michelin said global passenger car and light truck OE demand declined 3 percent, while the replacement market grew 1 percent during the first half.

Europe

• OE demand declined 1 percent
• Replacement demand fell 2 percent

North and Central America

• OE demand declined 1 percent
• Replacement demand fell 4 percent

China

• OE demand contracted 7 percent
• Replacement demand increased 9 percent

The company attributed China's OE weakness to lower government subsidies for new vehicles, while Europe experienced slower economic activity and North America was affected by tariff-driven vehicle price increases and weaker EV incentives. In Europe, replacement demand was also influenced by dealers building inventories ahead of anti-dumping duties on Chinese tyre imports.

In truck tyres, the global market excluding China grew only 1 percent , with sharp regional differences:

• Europe: OE +4 percent , Replacement +9 percent
• North & Central America: OE -12 percent , Replacement -13 percent
• South America: OE -11 percent , Replacement +32 percent

Michelin said North American demand remained subdued as fleet operators delayed purchases, while South America's replacement market expanded rapidly due to increased low-cost tyre imports.

Acquisitions and innovation

Michelin completed three acquisitions during the first half, including Tex Tech Industries, following earlier purchases of Cooley Group and Flexitallic, strengthening its Polymer Composite Solutions portfolio in higher-value industrial markets.

The company also unveiled a universal AI-powered digital tyre twin capable of predicting tyre behaviour using real-time vehicle data and introduced new tyres containing up to 75 percent  renewable and recycled materials.

Workforce restructuring continues

Michelin plans to adapt its workforce in France through voluntary measures, with up to 1,500 positions potentially affected over the next three years.

In the United States, the company will progressively wind down production at its BFGoodrich plant in Tuscaloosa, Alabama, consolidating production at Fort Wayne, Indiana, resulting in approximately EURO 220 million in non-recurring charges during 2026.

Outlook

Michelin maintained its full-year guidance and continues to expect growth in segment operating income at constant exchange rates and business scope, while targeting more than EURO 1.6 billion in free cash flow before M&A during 2026.

Florent Menegaux, Michelin's Managing Chairman, said the company's improved sales momentum reflected continued innovation, stronger brand appeal and disciplined execution despite a challenging geopolitical and competitive environment.a

Comments (0)

ADD COMMENT

Link Copied!

Tegeta Green Planet contributed to a recent youth initiative in Bakuriani by partnering with the Georgian Institute of Public Affairs for its annual summer camp. The collaboration featured a targeted environmental workshop designed to instil stronger ecological values and sustainable habits among the student participants.

A central figure in the proceedings was Tamar Dolidze, Head of the Occupational Safety and Environmental Protection Department at Tegeta Holding. Her address to the attendees covered the mounting pressures of climate change, the finite nature of key resources and the collective duty of citizens to mitigate environmental harm.

Beyond the lecture, the organisation’s team delved into forward-thinking approaches to waste reduction, the operational logic of circular economic models and the regulatory significance of producer responsibility schemes. An open forum followed, enabling the young audience to pose questions and exchange viewpoints, while a subsequent interactive contest added a lighter touch and was accompanied by small prizes.

Long-term engagement with educational spheres remains a cornerstone of Tegeta Green Planet’s outreach, encompassing schools, universities, and seasonal camps. The enterprise views such programmes as vital for bridging theoretical instruction with real-world behavioural change, reinforcing that environmental literacy and enthusiastic youth involvement are fundamental drivers of a more resilient and resource-conscious future.

Comments (0)

ADD COMMENT

Link Copied!