Recommended disclosures |
Status of Bridgestone’s response |
Links |
Climate transition plan |
Nature transition plan |
Foundations |
Strategic ambition |
- Bridgestone has formulated a Mid Long Term Business Strategy Framework to assist in realizing its vision of continuing to provide social value and customer value as a sustainable solutions company toward 2050.
- In alignment with the Paris Agreement, Bridgestone has established medium- to long-term climate change goals for 2026, 2030, and 2050.
|
|
|
|
Framing and scope |
|
- Bridgestone is promoting initiatives based on material issues it has identified in terms of both the impact its business activities have on the environment and the contribution they make to the environment throughout the product life cycle and entire value chain.
|
|
Business model, value chain, transition financing strategies |
- To create both social value and customer value through its business and achieve a win-win-win relationship for society, customers, and Bridgestone, Bridgestone is incorporating its unique Sustainability Business Model into its corporate strategy and Mid Term Business Plan (2024-2026). This model links the Company’s business with the realization of carbon neutrality, a circular economy, and promoting a nature-positive world across the entire value chain, from the “produce and sell” and “use” stages of products through to their “renewal” to raw materials.
|
|
|
Plan priorities |
|
- Bridgestone determines an order of priority based on assessment of its dependency and impact on natural capital, as well as the risks and opportunities associated with loss of natural capital.
- To promote a nature-positive world, Bridgestone’s Mid Term Business Plan (2024-2026) focus will be on “initiatives for sustainable use of natural rubber & water resources”, which are directly related to its business.
|
|
|
Key assumptions and external factors |
- Bridgestone will identify climate- and nature-related dependency and impact, transition risk, and physical risks and opportunities based on comprehensive assessment of multiple climate- and nature-related scenarios.
|
|
Implementation Strategy |
Business planning and operations |
- In terms of CO2 emissions (Scope 1 and 2) reduction, Bridgestone aims to achieve stable procurement of its renewable energy through optimization of the portfolio, as well as improving productivity in conjunction with BCMA and steadily improving energy intensity. This approach is aimed to balance business growth and CO2 emissions reduction at an even higher level. In parallel, Bridgestone pursues technology development and verification to enable further reductions, enhancing its ability to meet rising societal expectations and providing ongoing value to society and customers.
|
- Bridgestone seeks to improve its environmental impact based on Milestone 2030.
- Based on its Water Stewardship Policy, by 2030 Bridgestone will create and implement specific water stewardship plans that are tailored to the local environment, focusing on production sites located in water stress areas.
- In order to support smallholder farmers in improving productivity and preventing deforestation, Bridgestone will support small-scale natural rubber farmers with technologies and disease control know-how developed at its own farms.
|
|
|
Products and services |
- Bridgestone strives to increase its contribution to reducing CO2 emissions and reducing its environmental footprints on natural capital through the development and sale of fuel-efficient tires, growth of its retread tire business, use of recyclable and renewable resources, and provision of mobility solutions, including expansion of its ENLITEN, base technology for product design.
|
|
|
Policies and conditions |
- Bridgestone established the Bridgestone Environmental Management Policy, which incorporates the commitments made in its Environmental Mission Statement (to exist in harmony with nature, value natural resources, and reduce CO2 emissions), as well as its 2050 long-term environmental vision.
- To assist in reducing CO2 emissions, Bridgestone introduced internal carbon pricing (ICP), which it uses to reflect the impact of CO2 reductions/increases in its investment decision-making.
- Bridgestone is strengthening supplier engagement under its Global Sustainable Procurement Policy.
- Bridgestone’s Global Human Rights Policy articulates its strong commitment to respect and support internationally recognized human rights principles such as the UN Guiding Principles for Business and Human Rights.
|
|
|
|
|
|
Financial planning |
- Bridgestone’s Implementation Strategy is reflected in Mid Term Business Plan (2024-2026).
|
|
Engagement Strategy |
Engagement with the landscape, river basin and seascape |
|
- For its production sites in water stress areas, Bridgestone is implementing Water Stewardship Plans tailored to local water conditions, based on its Water Stewardship Policy.
- Bridgestone established a Capacity Building Task Force to provide training and technical support to smallholder farmers, in doing so strengthening efforts aimed at protecting forests and enhancing the productivity of small-scale natural rubber farmers.
- In collaboration with local communities and partners, Bridgestone established The Bridgestone In Harmony with Nature – Promoting Biodiversity Program to encourage all its manufacturing facilities across the globe to promote activities to conserve biodiversity.
- As part of its collaboration with WWF Japan and the Deloitte Tohmatsu Group on a trial analysis of the Science Based Targets for Nature (SBTs for nature), Bridgestone participated in a sustainable natural rubber project in Indonesia and confirmed the alignment of the project’s metrics, targets and countermeasures with the elements for landscape engagement targets indicated in the guidance by SBTs for nature.
|
|
|
Engagement with value chain |
- Under Bridgestone’s Global Sustainable Procurement Policy, suppliers are required to reduce their energy usage and GHG emissions, formulate plans for these reductions, and report on emission volume.
- Bridgestone holds workshops on CO2 emissions reduction in order to support suppliers’ efforts in this regard.
- Bridgestone conducts monitoring by such means as conducting surveys on CO2 emissions reduction targets and current levels of CO2 emissions.
|
- Bridgestone addresses environmental stewardship practices, respect for human rights, support of fair labor practices, and increased transparency, as articulated in its Global Sustainable Procurement Policy.
- Bridgestone’s sourcing and production activities help protect and restore the High Conservation Value (HCV) and High Carbon Stock (HCS) areas and virgin forests that are critical to addressing climate change and preserving wildlife.
|
|
|
Engagement with industry |
- Bridgestone is participating in the World Business Council for Sustainable Development’s (WBCSD) Tire Industry Project (TIP), a global initiative bringing together 10 leading tire companies that represent more than 60% of the world’s tire manufacturing capacity.
- Bridgestone is participating in rubber and tire industry organizations in each region.
- Through the Global Platform for Sustainable Natural Rubber (GPSNR), Bridgestone is working to harmonize standards to improve respect for human rights, prevent land-grabbing and deforestation, protect biodiversity and water resources, improve natural rubber yields, and increase supply chain transparency and traceability while also participating in the GPSNR’s Smallholder Representation and Capacity Building Working Group.
|
|
|
Engagement with government, public sector and civil society |
- Bridgestone supports the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
- Bridgestone is a member of the Japan Climate Initiative (JCI) and the GX League in Japan.
|
- Bridgestone is a participant in the Taskforce on Nature-related Financial Disclosures (TNFD) Forum.
- Bridgestone participates in Business for Nature and the Japan Business Initiative for Biodiversity (JBIB).
|
|
|
Metrics and Targets |
Dependency and impact metrics and targets |
|
- Bridgestone sets a goal of supporting 12,000 natural rubber smallholders by 2026 in seeking to curb deforestation
- To support sustainable use of water resources, Bridgestone regularly evaluates production sites located in water stress areas with a risk of declining water resources in terms of quantity and quality, including regular monitoring of water withdrawal.
- Through its partnership with WWF Japan, Bridgestone is participating in a sustainable natural rubber project in Indonesia. It conducted a pilot study regarding a landscape engagement target of SBTs for nature, identifying metrics, confirming the baseline for each metric, setting targets and countermeasures.
|
|
|
Governance, business and operational, financial, and GHG metrics and targets |
- Bridgestone regularly monitors CO2 emissions (Scope 1, 2, and 3), CO2 reduction contributions, and its renewable energy (electricity) usage, obtaining third-party verification of the data to ensure its reliability.
- Bridgestone has set long-term and mid-term environmental goals, obtaining SBT certification for its mid-term goals.
|
|
|
|
Carbon credits |
- Bridgestone does not use carbon credit purchases in pursuing its CO2 reduction targets.
|
|
|
Governance |
Board oversight and reporting |
- The Board of Directors receives and reviews regular reports on the status of sustainability initiatives, including achieving carbon neutrality, contributing to a circular economy, and progress toward being in harmony with nature.
|
|
Management roles, responsibility and accountability |
- The Global Executive Committee (Global EXCO), the highest level of corporate management, approves and manages the progress of mid-long term strategies, targets, and action plans, including achieving carbon neutrality, contributing to a circular economy, and progress toward being in harmony with nature.
|
|
Culture |
- The Bridgestone E8 Commitment defines eight values to serve as the company’s axis and vectors for value creation in relation to carbon neutrality and promoting a nature-positive world.
- Energy: Committed to the realization of a carbon neutral mobility society.
- Ecology: Committed to advancing sustainable tire technologies and solutions that preserve the environment for future generations
|
|
Incentives and remuneration |
- As a mid- to long-term incentive, remuneration for Board of Directors and Executive Officers includes the allocation of restricted stock as compensation for sustainability and transformation initiatives undertaken each fiscal year.
|
|
Skills, competencies and training |
- Bridgestone provides education through training and e-learning in each region.
- In Japan, Bridgestone conducts sustainability training (e-learning and in-person training) once a year for all employees.
|
|