Nokian Tyres

Tires & Rubber
TYRES.HE
€ 13 (0.93)%
Share price
$ 1.9 bn
Market Cap
$ 1.9 bn
Enterprise Value

Carbon footprint

53 Ton
GHG emissions per $ 1 mln investment
1.9x the weighted average for S&P 500
FY2021
How is this calculated?
+18%
YOY change in GHG emissions
Weaker than the -8.7% weighted average for S&P 500
FY2021 vs. previous year

Primary Climate Goal

-4.2%
Proj. YOY change in GHG emissions (all Scopes)
Weaker than the -6.9% weighted average for S&P 500
FY2022
How is this calculated?

Nokian Tyres aims to achieve carbon neutrality for all Scopes by 2045


This target has not been verified as science based according to SBTi
Nokian Tyres's actual and proj. GHG emissions (all Scopes) (Kt of CO2e)

GHG emissions and Carbon intensity

Nokian Tyres's GHG emissions (market-based) (Kt of CO2e)
Nokian Tyres's Carbon intensity (Tons per 1 USDm)

Nokian Tyres's carbon footprint

Nokian Tyres reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 103 Kt (+16/+18% y-o-y). At the sime time, carbon intensity was down at 51 t (-6 /-10.6% y-o-y).

Nokian Tyres's Scope 3 emissions skyrocketed to 6,697 Kt (+1,637/+32% y-o-y). There has been no clear trend lately.

The company is committed to achieving carbon neutrality for all Scopes by 2045, which translates into the estimated reduction of -283 Kt per annum over the period of FY2022 - FY2045. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Nokian Tyres aims to achive carbon neutrality across its entire value chain (all Scopes) in 2045. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Nokian Tyres also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Multinational Finnish tire company Nokian Tyres plc commits to reduce scope 1 and 2 GHG emissions 52% per ton of tires by 2030 from a 2015 base year and scope 3 GHG emissions from purchased goods and services and upstream and downstream transportation and distribution 25% per ton of tires by 2030 from a 2018 base year. Nokian Tyres also commits to reduce scope 3 GHG emissions from the use of sold products 25% per ton of tires by 2030 from a 2018 base year.

Company environmental metrics

Show more...