NEWS

• Committed to reducing direct and indirect greenhouse gas emissions through systematic, science-based targets
• SBTi approval expected to strengthen partnerships with global automakers and enhance external credibility

 NEXEN TIRE, a leading global tyre manufacturer, announced that its near-term science-based greenhouse gas (GHG) emissions reduction targets have been approved by the Science Based Targets initiative (SBTi). This approval confirms that NEXEN TIRE’s GHG reduction goals align with internationally recognised scientific standards.

The SBTi was established through collaboration among four international climate action organisations: the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the Carbon Disclosure Project (CDP). The initiative scientifically assesses and validates whether corporate GHG reduction targets are consistent with the Paris Agreement goal of limiting global warming to 1.5°C above pre-industrial levels.

NEXEN TIRE has committed to reducing Scope 1 and Scope 2 emissions by 58.8% by 2034, relative to 2023 levels, and to cutting Scope 3 emissions by 35% over the same period. To achieve these targets, the company is developing and executing a comprehensive carbon neutrality roadmap.

The company has strengthened its enterprise-wide management system to achieve these GHG reduction goals. By advancing its GHG inventories, NEXEN TIRE has implemented comprehensive tracking of all 15 Scope 3 emission categories, as well as Scope 1 and 2 emissions, across all domestic and international sites. Monthly ESG Operational Committee meetings guide a phased GHG reduction plan, including enhancing facility efficiency, accelerating the energy transition, and expanding the use of renewable energy.

SBTi approval is expected to reinforce NEXEN TIRE’s partnerships with global automakers, as the automotive industry increasingly focuses on carbon neutrality and systematic, measurable emissions management. Additionally, precise GHG data obtained through the SBTi process supports global ESG evaluations, further enhancing the company’s credibility and reputation.

“This SBTi approval marks an important milestone, demonstrating that NEXEN TIRE is establishing a climate response framework aligned with global standards,” said John Bosco (Hyeon Suk) Kim, CEO of NEXEN TIRE. “We remain committed to leading the path to carbon neutrality by achieving scientifically validated emissions reduction targets through enterprise-wide efforts.”