In 2024, Nexen Tire completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Nexen Tire has also provided a category-level breakdown for 15 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 80,237a | 70,212a | 72,872.1b | |
Total Scope 2 | ||||
Market-Based | 210,023a | 220,339a | N/A | |
Location-Based | 282,124a | 269,014a | 291,847a | |
Unspecified Calculation Method | N/A | N/A | N/A | |
Total Scope 3 | 17,365,553a | 16,684,416a | N/A | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 41.342a | 33.2084a | 35.3573b |
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In 2024, the total operational greenhouse gas (GHG) emissions of Nexen Tire amounted to 362,361 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Nexen Tire increased by 6.82%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2024, the total Scope 1 emissions of Nexen Tire were 80,237 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Nexen Tire's Scope 1 emissions have increased by 41.67%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Nexen Tire's Scope 1 emissions increased by 14.28%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.a
In 2024, Nexen Tire reported Scope 2 greenhouse gas (GHG) emissions of 210,023 tCO₂e using the market-based method and 282,124 tCO₂e using the location-based method.a
Compared to the previous year (2023), Nexen Tire's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that Nexen Tire's emissions have plateaued with no significant change in its energy consumption footprint.a
In 2024, Nexen Tire reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, Nexen Tire reported 17,365,553 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Nexen Tire includes a breakdown across 15 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2024, Nexen Tire reported total Scope 3 emissions of 17,365,553 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 6.93% of these emissions originated from upstream activities such as purchased goods and capital goods, while 93.07% came from downstream activities like product use, distribution, and end-of-life treatment.a
Compared to the previous year (2023), Nexen Tire's Scope 3 emissions remained relatively stable, indicating that Nexen Tire's emissions have plateaued with no significant change in its value chain footprint.a
In 2024, Nexen Tire reported emissions for 15 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This reflects a high level of granularity and transparency in the company's emissions reporting.
In 2024, the largest contributors to Nexen Tire's Scope 3 emissions were:a
In 2024, Nexen Tire reported Scope 1 greenhouse gas (GHG) emissions of 80,237 tCO₂e and total revenues of USD 1,941 millions. This translates into an emissions intensity of 41.34 tCO₂e per millions USD.a
In 2024, Nexen Tire reported a Scope 1 emissions intensity of 41.34 tCO₂e per millions USD. Compared to the peer group median of 16.98, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, Nexen Tire ranked 18 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Nexen Tire is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Nexen Tire reported a total carbon footprint of 17,727,914 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 4.14% increase compared to 2023, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Nexen Tire's total carbon footprint was Scope 3 emissions, accounting for 97.96% of the company's total carbon footprint, followed by Scope 2 emissions at 1.59%.a