GOODYEAR SHARES PROGRESS ALONG ITS SUSTAINABILITY JOURNEY IN 2022 CORPORATE RESPONSIBILITY REPORT

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Jun 27, 2023, 11:00 ET

AKRON, Ohio, June 27, 2023 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) today released its report on corporate responsibility performance for 2022. The report details how by integrating sustainability throughout its business, the company is helping to create value for its internal and external stakeholders. The report also highlights the progress Goodyear is making toward achieving its short- and long-term sustainability goals.

The Goodyear Tire & Rubber Company’s 2022 Corporate Responsibility Report summarizes the progress the company made toward achieving its short- and long-term sustainability goals while further demonstrating its commitment to ethical and sustainable processes, materials and programs.

"Sustainability is a key component of our business strategy and an integral part of our culture," said Chairman, CEO and President Richard J. Kramer. "In 2022, the work of our associates around the world further demonstrated our commitment to ethical and sustainable processes, materials and programs. Our latest corporate responsibility report shares where we are along our journey—our goal progress, our challenges, our strategies, including our decarbonization roadmap, and what lies ahead—and how we are working with our customers and other stakeholders to help build a better future."

Goodyear's 2022 report is organized around the four pillars of the company's corporate responsibility framework, Goodyear Better Future: Sustainable Sourcing, Responsible Operations, Advanced Mobility and Inspiring Culture. Some of the report's highlights are described below.

Sustainable Sourcing: Goodyear scientists and engineers continued to make significant progress toward the company's 2030 goal of introducing a 100% sustainable-material tire with the development of a demonstration tire made of 90% sustainable materials*. This demonstration tire has 17 featured ingredients, including four different carbon blacks produced from bio-methane, carbon dioxide, end-of-life tire pyrolysis oil feedstocks and plant-based oil; soybean oil; rice husk ash silica; and bio-renewable pine tree resins.

Responsible Operations: Goodyear continued its work to reduce its environmental impact. In 2022, the company increased its utilization of renewable electricity to 34% across its global manufacturing operations, up from 3% in 2019.

Advanced Mobility: In 2022, Goodyear continued its focus on improving fuel efficiency by achieving a 32.9% reduction in rolling resistance and a 9.4% reduction in tire weight in its global consumer tire portfolio, from a 2005 baseline.

Inspiring Culture: In 2022, associate membership in Goodyear's Employee Resource Groups (ERGs) grew by 6%. It was also a milestone year for one of the company's ERGs with the Akron-based Goodyear Women's Network (GWN) celebrating its 100^th anniversary in 2022.

Goodyear's 2022 report was prepared with reference to the Global Reporting Initiative (GRI) Standards.

The 2022 Goodyear Corporate Responsibility Report can be found on the Goodyear Corporate Responsibility website.

*A sustainable material is defined as a bio-based/renewable, recycled material or one that may be produced using or contributing to other sustainable practices for resource conservation and/or emissions reductions including mass-balance materials.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world's largest tire companies. It employs about 74,000 people and manufactures its products in 57 facilities in 23 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