Interaction with our stakeholders
Stakeholder engagement is part of our business, and it is guided by our internal instructions on stakeholder engagement as well as our Code of Conduct. Our stakeholder engagement follows the principle of openness and the special requirements for public companies. We aim to address the expectations of all stakeholders, in particular concerning sustainability. We do understand, however, that different stakeholder groups may have conflicting requests, especially for corporate social responsibility.
Nokian Tyres’ stakeholders across our activities and business relationships are:
- employees and other workers
- consumers and other end-users
- B2B customers (business partners)
- suppliers and subcontractors
- governments
- shareholders
- local communities, especially in our factory locations
- media
- non-governmental organizations
- vulnerable groups
The group in the tire value chain that is considered the most vulnerable to negative human rights impacts is the natural rubber farmers and workers. Natural rubber is the livelihood of hundreds of thousands of families living in countries where the local legislation and working conditions have not been fully developed. In 2021, Nokian Tyres published its Sustainable Natural Rubber Policy to tackle issues associated with natural rubber supply chain. The company has also conducted sustainability audits in natural rubber processing plants since 2016.
Nokian Tyres conducts a material analysis every three years. As part of the most recent analysis that took place from September 2023 to February 2024, we conducted a sustainability survey, where our most important internal and external stakeholder groups defined their individual material topics and risks and opportunities in Nokian Tyres’ sustainability. The survey was conducted as an online questionnaire, comprising questions on the economic, social and governance aspects of sustainability, based on global benchmarks and topics relevant to the tire industry.
In addition to the materiality assessments, stakeholder engagement occurs as presented in the following table by key stakeholder group. The table also presents the purpose of engagement, topics that different stakeholder groups prioritized in the most recent materiality assessment, and how those views have been or are taken into account in Nokian Tyres’ operations, business model, and strategy.
| Stakeholder group | Stakeholder engagement | Purpose of the engagement | Stakeholder expectations in the order of importance, based on the responses in double materiality assessment | Connection to Nokian Tyres' operations, business model, and strategy |
| Employees. White and blue collars located in the Nordics, North America, and Central Europe. | • Actions to provide meaningful and motivating job content and working conditions | • Hearing employees' perceptions, ideas, feedback, and experiences • Keeping employees up-to-date on topical matters and planned developments • Contributing to a safe, sustainable and motivating workplace and working life | • Tire safety and quality • Safety of employees • Tire design, choice of materials, or other innovations aimed at reducing greenhouse gas emissions from tire use • Reduction and elimination of harmful chemicals • Greenhouse gas emissions reductions in company’s own operations | • Developing new, safe, state-of-the-art products • Externally certified safety management system • Promoting the well-being of the personnel by providing a safe working environment that motivates them • Increasing the share of recycled and renewable raw materials • Developing tires with low rolling resistance • Nokian Tyres’ products do not contain Substances of Very High Concern as defined in the EU REACH regulation • Reducing greenhouse gas emissions according to Nokian Tyres’ science-based targets |
| Customers (B2B). E.g. tire dealers and car dealerships in the Nordics, North America, and Central Europe. | • Day-to-day business cooperation • Customer experience surveys • Materiality assessments • Whistleblowing channel | • Building trust and strong partnerships • Enabling customers to achieve their targets • Gaining insight about the perspectives of consumers and end users of tires | • Tire safety and quality • Safety of employees • Tire design, choice of materials, or other innovations aimed at reducing greenhouse gas emissions from tire use • Ethical and responsible company culture • Respect for human rights in the supply chain | • Developing new, safe, state-of-the-art products • Externally certified safety management system • Increasing the share of recycled and renewable raw materials • Developing tires with low rolling resistance • Conducting business in a reliable and sustainable way • Conducting sustainability audits to natural rubber processing plants since 2016, and auditing contract manufacturers |
| Suppliers, business partners, and subcontractors. E.g. raw material providers and partners of the communications, IT, R&D, HR and other functions. | • Day-to-day business cooperation • Supplier due diligence • Supplier assessments and audits and possible follow-up actions • Subcontractor cooperation on occupational safety • Materiality assessments • Whistleblowing channel | • Promoting responsible sourcing • Compliance with Nokian Tyres Supplier Code of Conduct • Protecting human and labor rights of workers • Gaining insight of upcoming developments and trends | • Tire safety and quality • Reduction and elimination of harmful chemicals • Safety of employees • Collaborative relationships with suppliers • Measures to prevent corruption, bribery and misconduct | • Developing new, safe, state-of-the-art products • Nokian Tyres’ products do not contain Substances of Very High Concern • Externally certified safety management system • Occupational safety trainings for subcontractors and offering them the possibility to record safety observations in Nokian Tyres' system • Conducting business in a reliable and sustainable way • Natural rubber is one of the main ingredients in tires. The people getting their livelihood from natural rubber are recognized as a risk group regarding material negative human rights related impacts. Preventing and mitigating the impacts and promoting and ensuring decent working conditions is an essential aspect of Nokian Tyres' business conduct |
| Investors, owners, Board members. E.g. potential or existing shareholders (domestic or international), and board members. | • Investor meetings, events, and seminars • Stock exchange releases and other publications • Board Committee meetings • Materiality assessments • Whistleblowing channel | • Understanding expectations • Providing material information • Attracting responsible investors • Enhancing transparency | • Tire safety and quality • Tire design, choice of materials, or other innovations aimed at reducing greenhouse gas emissions from tire use • Safety of employees • Minimization of tire and road wear particles • Greenhouse gas emissions reductions in company’s own operations | • Developing new, safe, state-of-the-art products • Increasing the share of recycled and renewable raw materials • Developing tires with low rolling resistance • Externally certified safety management system • Promoting the well-being of the personnel by providing a safe working environment that motivates them • Reducing greenhouse gas emissions according to Nokian Tyres’ science-based targets |
| Authorities, media, NGOs, industry associations. E.g. public authorities, media representatives, NGOs related to sustainability and environmental responsibility, and industry associations. | • Project cooperation • Joint initiatives and programs • Meetings, events and seminars • Press releases and other publications, responding to media inquiries • Answering public consultations • Materiality assessments • Whistleblowing channel | • Knowledge sharing • Ensuring regulatory compliance • Contributing to initiatives • Contribution to developing industry standards • Driving sustainable development | • Greenhouse gas emissions reductions in company’s own operations • Tire design, choice of materials, or other innovations aimed at reducing greenhouse gas emissions from tire use • Traceability and transparency of raw materials • Waste minimization and management • Protection of biodiversity in the supply chain | • Reducing greenhouse gas emissions according to Nokian Tyres’ science-based targets • Increasing the share of recycled and renewable raw materials • Developing tires with low rolling resistance • Exclusively purchasing rubber processed in the plants that Nokian Tyres has approved • In 2022 and 2023, 100 percent of the tire production waste was utilized • Preparing for the EUDR |