The Sustainability Report for 2022 of Prometeon Tyre Group, has ratified the green policy previously set by the Group at a global level across the entire value chain from production to sales. New challenging targets have been set for reducing the environmental impact by 2030.
Nicolas Marchi, Chief Internal Audit & Sustainability Officer of Prometeon Tyre Group. “Sustainability is a key pillar in our business and is now part of the company’s identity. It concerns relationships with customers, suppliers and the financial world, and involves purchases as well as production. Prometeon is heavily involved in all sustainability issues and all our actions take into account the resulting environmental impact”.
ESG RATING
For the second year, Morningstar Sustainalytics, the ESG (Environmental, Social and Governance) rating agency, has assessed the corporate social responsibility of the Prometeon Tyre Group, with the aim of understanding and improving the Group’s actions with regard to sustainability principles along the entire value chain.
The assessment yielded positive results: the ESG Risk Rating score was 12.1 out of 100 (the closer the score is to zero, the better a company has performed), confirming for the second year Prometeon’s low exposure to risk and the high level of management. Besides improving its score, which was 14.9 last year, the company also improved its ranking within the reference sub-industry (TYRE world), moving up from fifth to third place out of 29 at the time of the ranking’s release; and in the auto components sector, Prometeon now ranks 15th out of 236 companies.
This data not only confirms the company’s excellent performance, but also demonstrates its ongoing commitment to improvement.
GOVERNANCE FOR SUSTAINABILITY
In 2022 governance was strengthened by boosting the actions of the Sustainability Committees in all regions where Prometeon has production facilities with the aim of establishing a unified ESG vision to expand knowledge of all three aspects – environmental, social and governance – and promote solid corporate governance standards that integrate all these aspects. This will help the sector to integrate ESG factors in the decision-making process involving investments in the Group’s industrial footprint.
The HQ Committee, which operates at a global level in all countries where the Prometeon is present, has defined long-term objectives up to 2030 for reducing the production of waste, water consumption, energy demand and CO2 emissions. With specific reference to the environment, Prometeon clearly understands the threats posed by climate change, an undeniable reality in today’s world with a strong potential for bringing about sudden changes to ecosystems. The Group are determined to take a proactive role in combating climate change. Therefore, Prometeon Tyre Group has undertaken to achieve tangible results within its commercial activities and along its entire value chain, with the ultimate aim of closing the loop of the product life cycle. With this goal in mind, Prometeon will continue to commit resources for research and development activities on innovative materials and collaborate with external bodies to make ESG assessments in order to constantly improve its corporate social responsibility.
TARGETS FOR 2030
In accordance with the demands of the United Nations Global Compact, with regard to the 2030 Agenda, the company has defined environmental reduction targets for 2030, with the baseline being the first year of Prometeon’s life after the spin-off from Pirelli (2016). Among these targets concerning specific consumption aspects, on account of the current industrial range of action, the company expects to reduce water consumption by over 53%, energy consumption and, consequently, CO2 emissions, by over 30%, thanks to ongoing investments and a revision of the company processes.
In line with the attainment of these goals and thanks to investments in innovative processes, such as wastewater treatment plants, recovering around 20% of water, in 2022 the Group reduced its total water consumption by almost 10% compared to the previous year. And thanks to processes aimed at enhancing the efficiency of production processes implemented with the aim of reducing consumption of resources and environmental impact, the Group succeeded in reducing its energy consumption and CO2 emissions by roughly 5%, and solvent consumption by around 15%, with reference to the previous year.
To improve the collection of environmental data, in 2022 the Committee purchased a software programme that collects data for providing an overview of the KPIs and monitoring the state of progress for the attainment of long-term goals.
GLOBAL REPORTING INITIATIVE
During the course of 2022, Prometeon Tyre Group implemented the Global Reporting Initiative (GRI) in its Social Corporate Sustainability Report. The GRI provides a framework for identifying the main environmental, social, and economic impacts generated by the organisation on the basis of the nature of its activities. It also takes into account the impact that the organisation’s activities and decisions have on the main stakeholders.
SUPPLIER AWARD
The company has introduced the Supplier Award Programme with the aim of involving and guiding its suppliers in its efforts to tackle sustainability issues. The programme will be managed by the Chief Procurement Officer of Prometeon Tyre Group, Federica Tondini. Through this programme, Prometeon can acknowledge and reward suppliers that provide top-rate services and materials, so as to expand their level of engagement and reward innovative and sustainable projects, as well as encourage the improvement of processes capable of adding value to the business and to the stakeholders involved.
The following categories are included in the award, the winners of which will be communicated at the start of 2024:
- Best ESG Supplier;
- Best Raw Material Supplier;
- Best Services Supplier;
- Best Logistic Supplier;
- Best Machine, Equipment and MRO Supplier.
The 2022 Sustainability Report of Prometeon Tyre Group can be consulted on the website Prometeon.com and can be downloaded at the following link.
