Move involves second-party audits on raw material suppliers, creation of conflict minerals and cobalt sourcing policy
Milan, Italy – Commercial tire manufacturer Prometeon Tire Group (PTG) has announced a series of measures to be taken over the next few years to enhance the company’s sustainability standards.
In its 2021 sustainability report, published 7 June, the Italian tire maker said it was introducing second-party audits of raw materials suppliers and partnering with Sustainalytics to evaluate its corporate social responsibility.
“Over the next few years we will be focusing on balancing technological development and sustainability, understood as meaning respect both for the environment and for all the communities and people,” said Roberto Righi, general manager.
As part of its sustainability strategy, PTG said it joined the Nations Global Compact (UNGC) in 2019 and was a founder member of the United Nations Global Compact Network Italy the following year.
“PTG is committed to helping achieve [UNGC] goals, and in 2021 it drafted its own Sustainability Plan with reference to the ten principles of the UNGC, ”it added.
Among other actions, the tire maker has put into place a program of “second-party audits along the supply chain via third companies.”
The audit inspections on raw material supplies – such as natural rubber, carbon black and chemicals – will be carried out on an annual basis and ensure compliance with established standards.
Furthermore, PTG said it had decided to extend its due diligence to cobalt ore by reinforcing its procedures and applying a conflict minerals and cobalt sourcing policy.
With the policy, the tire maker said it aimed to prevent the exploitation and sale of cobalt and minerals mined in conflict zones such as DR Congo and neighboring regions.
Those regions, it added, “currently contribute to financing conflicts and involve child labor and human rights violations in the mining operation.”
In addition, in the first quarter of 2022, PTG entered into a partnership with Sustainalytics, an ESG (environmental, social and governance) ratings agency.
The agency is tasked with evaluating the PTG’s understanding of sustainability principles and improving them throughout the entire value chain.