Nexen Tire Releases First Sustainability Report

Nexen Tire, a leading global tire manufacturer, is pleased to announce the publication of its first Sustainability Report. The report outlines the company’s sustainable practices and environmental, social, and economic performance in 2019.

Nexen Tire’s 2019/20 Sustainability Report has been published to provide shareholders with consistent and transparent information, highlighting the progress and long-term commitment to its sustainable practices. The report is based on standards of the Global Reporting Initiative (GRI), the United Nations Sustainable Development Goals (UN SDGs), and has been verified by the Korea Management Registrar (KMR), a third-party assurance institution.

Nexen Tire’s has three core values – Challenge, Creativity, and Collaboration – to achieve its corporate philosophy. The Sustainability Report includes the company’s financial performance under the International Financial Reporting Standards (IFRS), as well as corporate ethics, labor and human rights, EHS (environment, health and safety), and supplier responsibilities based on the company’s CSR standards.

In addition, Nexen Tire enhanced its CSR policy for purchasing natural rubber from regions including Southeast Asia and Africa by joining the GPSNR (Global Platform for Sustainable Natural Rubber). The company has also been participating in the Carbon Disclosure Project (CDP) in an effort to manage and reduce its impact on the environment. For instance, in 2019, Nexen Tire was able to reduce the waste generated from two of its major plants in Korea and recycle resources at a high rate of 97.2%.

“Based on our 78 years’ experience, we are committed to implementing CSR activities and creating social value through continuously innovating and challenging ourselves,” said Travis Kang, Global CEO of Nexen Tire.The 2019/20 Sustainability Report is available for download on the Nexen Tire website at http://www.nexentire.com/international/company/csr_report/.