Engagement Case Studies

Goodyear Tire & Rubber Company is one of the largest tire-producing companies in the world.

EOS has been engaged with Goodyear on upstream and downstream climate-related risks since 2019, addressing four UN Sustainable Development Goals (SDGs): Industry, Innovation, and Infrastructure; Responsible Consumption and Production; Climate Action; and Life on Land. These engagement efforts have resulted in Goodyear:

• Achieving Science Based Targets initiative (SBTi) verification for near- and long-term Scope 1, Scope 2 and specific Scope 3 greenhouse gas emissions reduction targets, to reach net zero by 2050. In 2021, the company implemented a renewable energy strategy to move all manufacturing operations and processes to 100% renewable energy by 2040.
• Focusing on reducing value chain emissions, including sourcing and producing more sustainable-material tires and committing to replacing all petroleum-derived oils in its products by 2040.
• Establishing an enterprise and affiliate natural rubber procurement policy aligned with the Global Platform for Sustainable Natural Rubber’s policy framework to promote responsible land use, production, and harvesting techniques with regular audits to ensure compliance.
• Publishing its first TCFD report in 2022 after three years of engagement on this topic. Goodyear has also published a 2023 TCFD report.

EOS continues to engage with Goodyear on the execution of its climate strategy, use-phase emissions, and sustainable-material tire progress.

Source: EOS

Air Liquide is one of the world’s largest suppliers of industrial gases and services, serving industries including medical, chemical and electronics manufacturers.

EOS co-led the Climate Action 100+ engagement with Air Liquide from 2018 to 2022, addressing the UN Sustainable Development Goal (SDG) of Climate Action. These efforts have resulted in Air Liquide’s increasing incorporation of net zero throughout its value chain.

• In 2021, Air Liquide made public commitments to reach carbon neutrality by 2050 for Scope 1 and 2 emissions, representing 60% of emissions.
• In 2022, the Science Based Targets initiative (SBTi) validated the company’s 2035 Scope 1 and Scope 2 emissions reduction trajectory. Air Liquide is participating in the SBTi working group to develop a Sector Decarbonization Approach for the chemicals industry.
• In 2023, the company set its first Scope 3 emissions reduction targets to have, within two years, 75% of its top 50 customers committed to carbon neutrality, rising to 100% by 2035. These 50 customers are typically in heavy industry and electronics sectors, and they represent over a third of sales and a significant proportion of the company’s emissions.

EOS continues to engage Air Liquide on climate-related topics by seeking science-based targets for Scope 3 emissions, challenging how climate risks and decarbonization pathways are reflected in accounts, and reviewing climate lobbying activities.

Source: EOS

LyondellBasell Industries is a multinational chemical company and one of the world’s largest producers of polymers and polyolefin technologies.

Since 2017, as a co-lead of the Climate Action 100+ engagement group, EOS has been engaged with LyondellBasell on two UN Sustainable Development Goals (SDGs): Responsible Consumption and Production, and Climate Action. These efforts have resulted in LyondellBasell:

• Adopting a new, enhanced climate strategy with ambitious Scope 1, 2 and 3 greenhouse gas emissions targets in line with the Science Based Targets initiative (SBTi).
• Developing and publishing qualitative scenarios to inform its climate strategy with TCFD recommendations and CDP disclosures.
• Prioritizing actions to help eliminate plastic waste from the environment, including setting a goal to produce and market two million metric tonnes of recycled and renewable-based polymers annually by 2030. This will be supported by a new organizational structure established by 2022, including a Circular and Low-Carbon Solutions business segment and strategic investment along the value chain.

EOS continues to monitor and work with LyondellBasell to support shorter-term adjustments, such as energy/material efficiency improvements and fuel switching to renewable energy, and longer-term solutions, including non-fossil feedstocks and hydrogen.

Source: EOS

Samsonite International S.A., a Hong Kong-based company, manufactures luggage, bags, travel accessories and protective cases for personal electronic devices.

EOS began discussions with Samsonite in 2018 on the use of sustainable materials and continues to engage the company on addressing sustainability and circular economy issues in product development.

Initially, the company had no clear public carbon reduction targets or climate change commitments. After discussions with EOS, Samsonite included carbon management commitments and quantitative targets, along with a circular economy commitment, in its 2020 sustainability strategy. In 2021, Samsonite also conducted a pilot to estimate, track and reduce Scope 3 emissions through engagement with key suppliers.

EOS further engaged Samsonite on board composition starting in 2019, when it outlined expectations that the company’s all-male board should have at least 20% gender diversity. In 2022, the company appointed two female independent directors, bringing board independence up to 75% and gender diversity to 38%. EOS continues to engage on plans for the chair’s succession and a fully independent nomination committee. In 2023, an additional female independent director was added.

Source: EOS

JD.com is a holding company mainly engaged in e-commerce in China, in online retail and related services, as well as in logistics and asset management services.

EOS began a series of engagements with the company in 2017, focusing on shareholder rights and ESG disclosures. JD.com began holding shareholder meetings and, after further EOS engagement in 2021, published its first ESG report, which included disclosure on corporate governance, data privacy and cybersecurity management, as well as JD.com’s commitment to decarbonize.

EOS has also engaged JD.com on board composition and diversity. The company’s first female board director was appointed in 2021 and the first female CEO was appointed in 2023.

Source: EOS

As part of ongoing dialogue with Pfizer, a global biopharmaceutical company, EOS has advocated that the company begin reporting in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), enhance its lobbying disclosures, and adopt more ambitious carbon reduction targets. EOS has also raised diversity concerns, starting in 2018, to encourage goals for gender and ethnic minority representation and disclosure of detailed workforce composition data. More recently, EOS engaged with Pfizer on pricing and access for its Covid-19 vaccine.

Over this time period, Pfizer published its first TCFD report and committed to become carbon neutral across its operations by 2030. In early 2020, the company appointed two new female directors with diverse backgrounds and set public goals for diversity in senior management.

Source: EOS

Mercedes-Benz Group AG (Daimler), is a Germany-based automotive engineering company that develops, produces and distributes cars and vans in Germany.

In 2018, EOS led the collaborative Climate Action 100+ initiative to engage Daimler. The following year, the company announced targets for carbon neutral production, and committed to making all new Mercedes-Benz passenger vehicles carbon-neutral in both manufacturing and use by 2039. Daimler Trucks & Buses followed with a similar goal: by 2039, the manufacturer will only supply major markets with new vehicles that are CO₂-neutral in driving operation. Mercedes-Benz Cars & Vans set a Scope 3 emissions reduction target, verified by the Science Based Targets initiative.

EOS’s engagement to align Daimler’s lobbying to its net zero ambitions has resulted in the company conducting and publishing its first lobby review of its positions on climate-related policies, such as on green steel, and GHG and fuel economy fleet regulations.

EOS continues its engagement efforts to improve the quality of disclosures in alignment with the NGO Influence Map’s Global Standard on Corporate Climate Lobbying.

Sources: EOS, Mercedes Benz Group