Michelin Scores Industry Best in Innovation Management and Five Other Sustainable Development Categories
In the 2014 Dow Jones Sustainability Indices (DJSI) rankings, Michelin has scored Industry Best in six categories including Innovation Management, Product Stewardship *1, Climate Strategy and Environmental Management *2. Michelin is one of two tire manufacturers in the DJSI World Index, attesting to its global performance in the area of sustainable development.
The DJSI ranking recognizes Michelin for its efforts to include sustainable development in all of its processes – from R&D and production to distribution – as well as its commitment to the circular economy, as reflected in the reduced use of raw materials, tire retreading, tire recycling around the world, innovative projects such as TREC to find new uses for end-of-life tires and the development of partnerships to set up a channel for bio-sourced rubber. The highly structured environmental management policy at Michelin’s manufacturing sites, with monitoring of five key indicators at each site, also guarantees a gradual reduction in the Group’s environmental footprint, which shrunk by 33% between 2005 and 2013. An objective of a further 40% reduction has been set for 2020.
Michelin’s governance is also structured to manage innovation and sustainable development at the senior executive level. In 2013, a Corporate Innovation Board led by Michelin’s Chief Executive Officer was created, with input from outside experts. In 2014, former European Parliament President Pat Cox accepted to supervise the Group’s sustainable development and climate change policy in his capacity as member of the Michelin Supervisory Board. Lastly, the Company is stepping up its open innovation initiatives, which involve working with academics, start-ups, businesses and other outside partners, to invigorate and accelerate innovation and promote breakthrough solutions for sustainable mobility. From November 11-15, Michelin will bring together more than 4,000 global sustainable development players in Chengdu, China for the Michelin Challenge Bibendum, a think and action tank focused on innovative mobility as an integral part of urban growth and well being.
*1 Product stewardship involves addressing sustainable development challenges throughout a tire’s life cycle.
*2 The two other categories are Health and Safety and Risk Management.