Goodyear Named One of the '100 Best Corporate Citizens'
Only tire company to receive the CRO Magazine honor
The Goodyear Tire & Rubber Company was named one of the "100 Best Corporate Citizens" in the current issue of CRO (Corporate Responsibility Officer) magazine. Goodyear came in at No. 72, the first time the Akron, Ohio-based company made the list in nine years of ranking the top corporate citizens among U.S.-headquartered public companies.
In compiling its "100 Best," CRO, in partnership with IW Financial – a Portland, Maine, research and consulting firm in environment, social and governance issues – ranked the corporate responsibility efforts of large-cap companies in eight categories: climate change, employee relations, environment, financial, governance, human rights, lobbying and philanthropy. CRO determined the final ranking as a weighted average of the eight categories. Goodyear was the only tire company honored.
This award is the latest honor for Goodyear in the area of corporate citizenry and social responsibility.
In North America and Asia, Goodyear was voted Most Trusted Brand in 2007 based on a TNS Survey. The study was conducted simultaneously across 18 major automotive markets on four continents. The annual study revealed that corporations that rate highly on safety and environment are the companies generally perceived as most trustworthy. Goodyear received top marks for manufacturing safe products and promoting road safety.
In addition, Goodyear China was named one of the Top 20 CSR companies by Southern Weekly, and listed as one of the Top Employers in Shanghai for two years in a row by CRF.com. In the Philippines, Goodyear was awarded Platinum Most Trusted Brand by Reader's Digest. Goodyear in Shanghai, China and the Philippines also recently gained top honors in a CSR competition conducted by the American Chamber of Commerce.
Goodyear is also the only tire company to promote driver education among women and empower them on the road with the "Women with Drive" program. In North America and in many parts of Asia, Goodyear honors heroic deeds performed by drivers with its Highway Heroes program.
"At the core of everything Goodyear does is safety and we fully understand our responsibility to promote road, driver, environmental and workplace safety," said Pierre E. Cohade, President of Goodyear's Asia Pacific Region. "Our safety record is a great credit to the men and women at Goodyear Asia, who ensure that our safety mantra, "No One Gets Hurt", rings true."
Cohade adds, "We are likewise focused on helping preserve the environment where we manufacture tires by eliminating waste to landfills, minimizing emissions and reducing energy consumption."
"We're certainly pleased to be included with a number of corporations whose excellent reputations are well known and regarded highly by the international business community," said Pat Gorbach, Goodyear's director of corporate compliance and ethics. "Transparency is an important component of corporate responsibility, and Goodyear welcomes the opportunity for anyone to review the data documenting improvements in our governance, compliance and sustainability performance."
IW Financial relies on publicly-available data from company financial disclosures, corporate responsibility reports, websites, EPA databases, and a number of other sources as part of its standardized research processes. All companies being evaluated are listed on the Russell 1000 index – which includes companies that represent the largest impact on B2B and consumer markets.
"Some companies have good environmental policies," said Mark Bateman, IW Financial's director of research. "Some companies have great employee relations. Some companies have exemplary human rights records. CRO's '100 Best Corporate Citizens' list answers the question: which companies do best across a wide variety of citizenship issues?"
Business Ethics magazine first published the "100 Best Corporate Citizens" in 2000. CRO has continued the tradition after acquiring the publication in 2006. CRO will honor the "100 Best Corporate Citizens" in a special reception on March 27, 2008 at the Union League Club in New York, following the conclusion of its spring conference. For details about CRO's "100 Best Corporate Citizens 2008," the methodology and CRO magazine, visit www.thecro.com .