NEXEN TIRE Secures SBTi Approval for Greenhouse Gas Reduction Targets

• Committed to reducing direct and indirect greenhouse gas emissions through systematic and science-based targets
• SBTi approval expected to strengthen partnerships with global automakers and boost external credibility

SEOUL, South Korea, September 15, 2025 – NEXEN TIRE, a leading global tire manufacturer, announced that the Science Based Targets initiative (SBTi) has approved its near-term science-based emissions reduction targets. The approval from SBTi demonstrates that NEXEN TIRE’s greenhouse gas (GHG) reduction targets meet internationally recognized scientific standards.

The SBTi was established through collaboration between four international climate action organizations: the United Nations Global Compact (UNGC), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the Carbon Disclosure Project (CDP). The SBTi scientifically assesses and validates whether the greenhouse gas (GHG) emissions reduction targets of companies are aligned with the Paris Agreement goal to limit global warming to 1.5°C above pre-industrial levels.

NEXEN TIRE has set a target to reduce Scope 1 emissions and Scope 2 emissions by 58.8% by 2034 compared to 2023 levels.  Additionally, the company aims to cut Scope 3 emissions by 35% within the same time frame. To achieve these targets, NEXEN TIRE will develop and execute a comprehensive carbon neutrality roadmap.

The company has strengthened its enterprise-wide management system to achieve its GHG reduction targets. By advancing its GHG inventories, the company has established comprehensive tracking for all 15 Scope 3 emissions categories, as well as Scope 1 and 2 emissions, on a consolidated basis in all domestic and overseas business sites. The company holds monthly ESG Operational Committee meetings to establish a phased GHG reduction plan, which includes enhancing facility efficiency, accelerating the energy transition, and increasing the use of renewable energy.

The SBTi approval is expected to provide NEXEN TIRE with an opportunity to further strengthen its partnerships with global car manufacturers. The auto industry is rapidly evolving to meet carbon neutrality targets as the demand for systematic and quantitative carbon emissions management through initiatives such as the SBTi increases. Moreover, the precise GHG data accumulated through the SBTi approval process can support global ESG evaluations, helping to enhance the company’s reputation.

“This SBTi approval is a meaningful step forward, demonstrating that NEXEN TIRE is establishing a climate response framework aligned with global standards,” said John Bosco (Hyeon Suk) Kim, CEO of NEXEN TIRE. “We are committed to leading the way to carbon neutrality by faithfully achieving emissions reduction targets based on scientific standards through enterprise-wide efforts.”