Bridgestone’s Sustainability Journey

The United Nations Sustainable Development Goals (SDGs) outlines a global agenda to tackle the world’s most pressing social, environmental and economic challenges by 2030 to realize a sustainable society. As society continues to transform itself in pursuit of these common global goals, the Group will further its contributions to society as a sustainable company in line with the SDGs. It will leverage its strengths and competencies to help address the challenges facing the world.

The COVID-19 pandemic exposed the vulnerability of society and forced everyone to reconsider almost every aspect of daily life. It reminds people of the challenges to achieving the SDGs, and also represents a turning point in the transformation of society to achieve the SDGs by 2030.

Striving toward living well within planetary boundaries, the Group contributes to the achievement of 13 of the 17 SDGs through all corporate activities and across its entire value chain.

The SDGs identified by the Group are also aligned with the Tire Sector SDG Roadmap developed by the World Business Council for Sustainable Development’s (WBCSD) Tire Industry Project (TIP). The Roadmap offers a framework for action that outlines impactful pathways for the entire sector to contribute to the ambitions of SDGs. It also aims to guide, inform and support decision-making along the value chain, encourage stakeholder dialogue and inspire action-oriented initiatives among industry peers and beyond. As co-chair of the TIP Working Group, the Bridgestone Group was an active contributor to the development of the Roadmap and participated in the consultation process with a range of global stakeholders from industry associations, NGOs and subject matter experts.

For the details of TIP, see “Partnerships and Collaboration with External Organizations.”

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.

To understand where it can impact society and customers through its business and value co-creation with partners, the Group introduced its Sustainability Framework that explains how it will become a sustainable solutions company. The Sustainability 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 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. These efforts go beyond risk avoidance to finding innovative ways to transform risk to opportunity.

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.

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.

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. The Committee includes working groups of cross-functional, cross-regional leaders from throughout the Group.

The Global COO, who sits as chair of the GSC, directs the Group’s sustainability strategy and advances the GSC’s recommendations to the Global EXCO. The Group's sustainability initiatives are reported to the Board of Directors.

1. Strategic Business Unit
2. Bridgestone Japan including Japan Tire, Diversified Products Solutions Business, G-MAA Solutions Business (Mining, Aircraft, Agriculture) and Sports/Cycles Business
3. Bridgestone Americas including the United States, Canada, Latin America, the Caribbean and Liberia;
4. Bridgestone Europe, Russia, Middle East, India, and Africa
5. Bridgestone China Asia Pacific
6. Global Business Support