In 2020, the Group identified a new vision of “Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company.” As a result, the Group’s Mid-Long Term Business Strategy places sustainability at its core.
In order to evolve into a sustainable solutions company, we have systematized the Group's approach to sustainability into a Sustainability Framework. The framework identifies the main themes and activities of focus over the coming years.
The area in the red arrow extending to the left, Sustainability Business, indicates the Group’s intention to promote and expand its business models to develop the competitive advantage detailed in its Mid-Long Term Business Strategy. This includes continued efforts to advance the tire and rubber, solutions and recycle businesses, and to contribute to a circular economy and carbon neutrality across the Group. In doing so, the Group will create social and customer value.
The second layer, Build trust to propagate value co-creation, represents the importance of fostering trust with customers and partners. These relationships establish the Group as a preferred partner to co-create innovations and values that will contribute to its Mid-Long Term Business Strategy. The wider and deeper this trust, the greater the opportunities for the Sustainability Business that provides social and customer value.
Finally, the third layer, Management Fundamentals for value creation, reminds the Bridgestone Group of the indispensable foundation of corporate governance and Management Fundamentals as it accelerates its sustainability journey. As a responsible company, the Group is fulfilling its social responsibility by proactively responding to society’s expectations. These efforts go beyond risk avoidance to finding innovative ways to transform risk to opportunity.
Co-creating value with stakeholders is essential in fulfilling the eight values of the “Bridgestone E8 Commitment” while achieving both social and customer value through its Sustainability Business. To build a deeper relationship of trust that propagates value co-creation, the Group is actively engaged in social contribution and other activities with local communities in line with this framework. The Group is also promoting initiatives that form an indispensable foundation for a responsible company.
To develop the Sustainability Framework, the Group conducted a materiality assessment in 2020, gathering input from internal and external stakeholders via surveys and interviews, which provided the Group a comprehensive look at material issues to clarify social expectations and sustainability priority items. Based on the assessment, the Group identified the following 26 material issues.
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The Group categorized these material issues into following focus items based on the Sustainability Framework to align them with the Group’s broader business strategy and business needs. To operationalize the Sustainability Framework, the Group is developing the targets, KPIs and metrics it needs to track.
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The Bridgestone Group continues to integrate sustainability culturally, strategically and operationally across the organization as part of its Mid-Long Term Business Strategy.
The Group incorporates the Bridgestone Group’s mission, the Corporate Commitment and the Sustainability Framework into its business, values and brand every day to ensure that it becomes an integral part of teammates’ lives, in all that they do.
With sustainability as its core, the Group is working toward its Mid-Long Term Business Strategy and Mid Term Business Plan, aligned with its Sustainability Framework.
For the detail of Mid-Long Term Business Strategy and Mid Term Business Plan, see “IR Library.”
The Global Sustainability Committee (GSC) that reports to the Global Executive Committee (Global EXCO), the highest level committee overseeing the Bridgestone Group’s business strategy and execution, is responsible for holistically leading the Bridgestone Group’s Sustainability Framework.
For the detail of the management structure, see “Management Structure.”
Sustainability
