4 Tire Companies Earn Spots on Sustainability Index
Four tire companies have been named to the global Dow Jones Sustainability Index (DJSI) for 2018: Bridgestone Corp., Hankook Tire Co. Ltd., Nokian Tyres plc and Pirelli & Cie SpA.
The index is created by S&P Dow Jones Indeces and RobecoSAM, an investment specialist that focuses solely on sustainability investing. The DJSI was created in 1999 and represents the gold standard for corporate sustainability. On average 600 data points for each company are compiled and converted onto a consistent methodology system. A company’s score determines its inclusion in the DJSI. As more companies dedicate themselves to sustainable business practices, more companies want their efforts measured and assessed for the annual ranking. There was a 5% increase of those companies in 2018.
Companies are grouped into 60 industries. In each of those categories an industry leader is determined. For 2018, Pirelli was named the leader in the auto components industry. Pirelli recorded a total score of 81 points compared to the average score of 32 for the industry.
A few words from company leaders:
Hankook: “Being included in the DJSI World for the third consecutive year is a great honor itself but also proves Hankook Tire is heading the right way with its sustainability efforts,” says Hyun Bum Cho, CEO and president of Hankook. “We fully recognize that surviving in this fast changing environment as a global top tier company requires improved performance in all dimensions; economic, environmental and social. Moving forward, Hankook Tire will continue its innovation and challenge both in and out of the company to drive positive growth in each and every parts of the world.”
Nokian: “I am proud of our personnel and everyone’s determined work which allowed us to renew our place in DJSI World and be included in DJSI Europe,” says CEO and President Hille Korhonen. “In the past year, we have been improving our company culture and way of working as well as various aspects of corporate sustainability. Sustainable development is at the core of our operations and the Nokian Tyres brand.”
In addition to the global index, regional lists are compiled, too. In Europe, Nokian and Pirelli both made the index. Bridgestone and Hankook both appear on the Asia Pacific list. Hankook also is ranked on the Korean index.
Read more about the DJSI here.