Giti Tire has hired Chong Hau Pang as chief sustainability officer (CSO), the global tire company has disclosed. Here are four things to know about Pang's experience and expertise, and Giti Tire's overall sustainability strategy.
1. Business Scope and Scale: Giti Tire, founded in 1951, is based in Singapore. The company has roughly 30,000 employees worldwide. Revenues was US$2.838 billion in 2022. Giti Tire's North American headquarters -- located near Los Angeles, California -- opened in 2005. Giti currently offers three brands (GT Radial, Primewell & Dextero) in North America, including tires for passenger cars, light trucks and commercial trucks.
2. Sustainability Strategy: Giti's sustainable development goals are outlined here. The company's 2023 Sustainability Report outlines the following target metrics:
- 30% reduction in Scope 1 and Scope 2 carbon emissions by 2030 compared to 2022.
- Net Zero Scope 1 and Scope 2 by 2050.
- Carbon neutral Scope 3 by 2050.
- Leveraging 30% renewable/recycled materials in tires by 2025, and 35% by 2030.
- 50% water recycling by 2030 and net zero by 2050 in manufacturing plants.
- 50% of waste recycleble back to open or close loop consumption by 2030.
Multiple supply chain partners have recognized Giti's sustainability efforts. For instance, Giti ranks among the top 20% of Walmart Suppliers in regards to reducing the environmental impact of their processes, the tire maker said.
3. Chong Hau Pang's Experience and Expertise: Pang is a certified LEAN Sigma Black Belt and Chartered Environmentalist, the company said. He previously was head of sustainability for DBS Bank's supply chain. Earlier, he held key product and engineering posts at Heng Long Leather Company, REC Solar, and REC Water Pte, according to his LinkedIn bio.
4. Executive Perspectives: In a prepared statement, Pang said: "I am thrilled to lead Giti Tire's sustainability journey. My aim is to inspire every employee to leverage their expertise in the tire industry by integrating sustainability practices into their roles and providing them with the necessary knowledge to effectively accomplish our sustainability goals within specified timeframes. This includes targeting a 30% reduction in Scope 1 and Scope 2 emissions by 2030 and attaining Net Zero emissions by 2050 through operational optimization, technology adoption, and Nature-Based Solutions."
Giti Tire and Sustainability: Why Technology Partners Should Care
By 2027, 25% of Global 2000 companies will have assigned a chief sustainability officer (CSO) responsible for meeting their organization’s ESG goals and making ESG-related IT purchasing decisions, according to IDC.
The bottom line: Technology partners need to extend their sales, marketing, engagement and support strategies to successfully fulfill those CSO customer needs, Sustainable Tech Partner believes.
