Michelin reaches a new milestone in its all Sustainable approach During Michelin’s Capital Markets Day on April 8, the Group unveiled its new “Michelin in Motion” strategic plan and its “All Sustainable” ambitions for 2030. This approach aims to strike a balance between human, environmental, and economic priorities. April 9 2021 Imprimer We want to generate stronger sustainable growth and create value that balances people, the planet, and economic performance. With the new “Michelin in Motion” strategic plan, the Group is embarking on an ambitious growth path for the next 10 years. Though we’re staying true to our core mission, we plan to strongly alter the Group’s identity by 2030 by expanding to new high-added-value activities around and beyond tires. Florent Menegaux, Group Michelin CEO New social and environmental ambitions for 2030 Michelin is convinced that beyond financial issues, a company's future will also depend on its ability to place environmental, social and societal issues at the heart of its decisions. This “All Sustainable” equilibrium, which Michelin first presented in 2019, now includes clear and ambitious targets. Michelin has set two priorities that complement its economic growth and performance targets: encouraging the development and fulfillment of its employees and better protecting the planet. Women in management positions, sustainable materials, and reducing CO₂ emissions During Investor Day, the Group also expressed its goals of obtaining an employee engagement rate above 85% and increasing the percentage of women in management positions to 35%. The Executive Committee currently has 4 women out of 11 members. Capitalizing on its highly advanced mature technologies in high-tech materials, the Group is planning to increase the percentage of sustainable materials in tires to preserve natural resources. By 2030, all its products will be made of 40% biosourced or recycled materials, with a goal of 100% by 2050. To take its “All Sustainable” approach even further, the new “Michelin in Motion” strategic plan will reduce the impact of the Group’s main negative externalities. For example, by 2030, Michelin expects to reduce its water consumption by 33% compared to 2019 and cut the CO₂ emissions of its plants by 50% compared to 2010. The Group aims to reach carbon neutrality by 2050.* *For scopes 1 and 2 and the transport part of scope 3 Between 20 and 30% of our 2030 revenues will come from growth areas beyond tires Growth and innovation are integral to the Group’s DNA and strategy. This means that Michelin will keep focusing on premium and specialty tires where its technologies are valued and make all the difference. The Group will also keep making tires for electric vehicles, a field in which Michelin has developed unique technological leadership. The Group will also expand services and solutions around connected mobility and data. Michelin now manages more than 13 million connected objects, a figure that is constantly increasing. In addition, thanks to its exceptional expertise in the physics and chemistry of high-tech materials, Michelin expects to boost its growth in this high-potential sector: high-performance polymers, medical applications, biosourced and recycled sustainable materials, and 3D metal printing. The Group also wants to become a global hydrogen mobility leader by supplying hydrogen fuel cells or components through its subsidiary Symbio. All these developments in the services and solutions sector or high-tech materials should generate 20 to 30% of Michelin’s revenues in 2030. Michelin presents its “All Sustainable” strategy for 2030: Michelin In Motion 04/08/2021 | PDF - 311.26 Ko Michelin’s sustainable tires : "Wonderful, innovative" Read more Greater mobility with less impact: the 2021 Movin’On Summit Read more
