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CSR scorecard of tire industry

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CSR Score card for bridgestone and goodyear

CSR Score card for bridgestone and goodyear

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  • 1. 1
  • 2. CSR: Tyre Industry Muir Woods Team 5 Aarushi Goel Georgy Balayan Nicolas Rodriguez Sanjay Adikane Swaroop Mishra
  • 3. Companies Incorporated in 1898 in Akron, Ohio Sole tire supplier for NASCAR series Employs about 73,000 people Subsidiaries: Dunlop, The Kelly Springfield Tire Company, Fierce, Save Tires “One of the top 50 CSR companies” in 2010 by Boston College Incorporated in 1931 in Fukuoka, Japan Sole tire supplier for MotoGP Employs about 17,000 people Subsidiaries: Firestone 3Industry Environment Social Economic Governance Recommendation
  • 4. Tyre (Tire) Industry 1844: Charles Goodyear invented the rubber vulcanization process 1880: John Dunlop made the first practical pneumatic tyre 1967: Poly/glass tyres introduced by Goodyear and Firestone 1992: Michelin introduced “green” tires More than billion tyres are sold each year Employs over 600,000 people directly and millions indirectly Source: http://klahanie.blogspot.com/2011/01/welcome- to-future.html The industry is toxic and is adding to pollution and global warming The number of cars on the road is increasing every year. And currently, flying cars are not available. 4Industry Environment Social Economic Governance Recommendation
  • 5. Methodology: Heat Map Environmental Criteria Goodyear Tire and Rubber to Pay $45,000 Penalty to Greenhouse gases at the Resolve Goodyear plant Danville Hazardous Waste Violations at byGoodyear areaddress these natural To generated Airport Superfund Site. gas-fired boilers used to negatives, Bridgestone produce steam for theits Corporation unveiled tire manufacturingthe latest entry in process, said company category of spokeswoman Amy Brei in environmentally friendly Red – Company failed in the specific criteria an email. Goodyear has a tires at the 2010 Chicago corporate-wide goal of Auto Show. Yellow – Company actions are doubtful reducing greenhouse gas emission rates by 3 Green – Company is doing great percent each year. 5Industry Environment Social Economic Governance Recommendation
  • 6. Social BFNAT understands that there are strengths from having a diverse workforce and serving a diverse customer base. In order to build governance structures appropriate for a global corporation, we have invited four outside directors, including two women and one non-Japanese individual, to serve alongside five internal directors on the Board of Directors. 6Industry Environment Social Economic Governance Recommendation
  • 7. Economic Criteria We have the only two tire manufacturing facilities in the world certified by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System administered by the U.S. Green Building Council. We also have a Gold LEED certified retail facility from which we are using best building practices when constructing our new retail In 1998, Ledbetter discovered facilities. nearly 20 years of that after working for Goodyear Tire & Rubber Company, she had been paid significantly less than her male counterparts. Though a lower court found that she was the victim of pay discrimination, the Supreme Court ruled against her in 2007. 7Industry Environment Social Economic Governance Recommendation
  • 8. Corporate Governance Criteria In May 2000, the U.S. National Highway Traffic Safety Administration (NHTSA) contacted Ford and Firestone about the high incidence of tire US Gov. fines Bridgestone $28 failure million for corrupt deals (AFP - Rich 15, 2011) Sep Kramer is Chairman, President and Chief Executive Officer of The Goodyear Tire & Rubber Company. He has been Chairman since October 1, 2010 and President and Chief Executive Officer since April 13, 2010. He has been a member of Goodyears Board of Directors since February 23, 2010. 8Industry Environment Social Economic Governance Recommendation
  • 9. Summary 9Industry Environment Social Economic Governance Recommendation
  • 10. Recommendation Start taking environment seriously Inculcate a Culture of Ethics Diligently work on Greenhouse Gas Retrain and emphasis on founder’s vision. Emission target Fairness in compensation policies Follow stringent accounting guidelines Both the companies have same person serving as the Chairman and the CEO. Under such circumstances, preference may be given to shareholders. We believe both the companies are taking steps to become socially responsible. 10Industry Environment Social Economic Governance Recommendation
  • 11. Thank You. 11
  • 12. References• http://www.worldtirereport.com/• http://www.gizmag.com/go/5989• http://en.wikipedia.org/wiki/Tire• www.bridgestone.com/corporate/• http://www.goodyear.com/corporate/about/responsibility/ 12