Nokian Tyres is the first tire company to have its ambitious greenhouse gas reduction targets approved

Nokian Tyres plc Company Release May 15, 2020 at 10:00 a.m.

Nokian Tyres is the first tire company to have its emissions reduction targets approved by the Science Based Targets initiative (SBTi). The targets covering greenhouse gas (GHG) emissions from Nokian Tyres’ operations (scopes 1 and 2*) are consistent with reductions required to keep climate warming to 1.5°C, what the latest climate science has told us is needed to prevent the most damaging effects of climate change.

Nokian Tyres plc commits to reduce GHG emissions by 2030 in the following categories:

• scope 1 and 2 GHG emissions by 40% per ton of tires from a 2015 base year
• scope 3 GHG emissions from purchased goods and services by 25% per ton of tires from a 2018 base year
• scope 3 GHG emissions from upstream and downstream transportation and distribution by 25% per ton of tires from a 2018 base year
• scope 3 GHG emissions from the use of sold products by 25% per ton of tires from a 2018 base year.

In the SBTi’s target assessment report, Nokian Tyres’ targets were considered ambitious.

- We have already witnessed a practically snowless winter in Southern Finland and are committed to doing our part in saving winters for future generations. During the last six years, we have already reduced our greenhouse gas emissions by 44%, and the work continues, says Hille Korhonen, President & CEO of Nokian Tyres.

The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

Nokian Tyres plc

Päivi Antola
SVP, Corporate Communications and Investor Relations

Further information: Teppo Huovila, VP, Quality & Sustainability, tel. +358 10 401 7701

* Scope 1 = direct emissions, scope 2 = indirect emissions from purchased energy.

Nokian Tyres develops and manufactures premium tires for people who value safety and sustainability. Inspired by our Scandinavian heritage, we craft innovative products for passenger cars, trucks and heavy machinery that give you peace of mind in all driving conditions. Our Vianor chain provides tire and car services. In 2019, the company’s net sales were EUR 1.6 billion and it employed some 4,700 people. Nokian Tyres is listed on Nasdaq Helsinki. Further information: www.nokiantyres.com

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