AKFI Announces Formation of World’s First Task Force on Car and Tire Supply Chain Sustainability Reporting
[Dallas, June 16, 2024] — The Actionable Knowledge Foundational Institute (AKFI) is proud to announce the formation of the world’s first Task Force dedicated to Car and Tire supply chain sustainability and ESG efficient reporting. This pioneering initiative will be led by Dr. Vidushi Vashishtha, a renowned expert in the field. The Task Force aims to address the pressing need for sustainable best practices in the Car and Tire industries. It will focus on developing comprehensive sustainability reporting standards, promoting transparency, and encouraging efficient practices throughout the supply chain.
Dr. Vidushi brings a wealth of knowledge and experience to the Task Force. Her leadership will be instrumental in guiding the team towards achieving its goals. “We are excited to embark on this global first journey,” said Manuel Vexler, AKFI Executive Director. “Our Task Force is committed to making a significant impact on the Car and Tire industries. We believe that through our work, we can help shape a more sustainable future.”
The Task Force will be hosted by AKFI, an organization dedicated to creating actionable knowledge that bridges the gap between sustainability, ESG, AI, and Digital Transformation. AKFI’s support will provide the Task Force with the resources and platform it needs to effect meaningful change.
For more information about the Task Force, please contact dr.vidushi@akfi.org.
About AKFI:
The Actionable Knowledge Foundational Institute (AKFI) is a leading industry association dedicated to creating actionable knowledge that drives positive change. AKFI supports initiatives that promote sustainability, transparency, and responsible practices in various industries.
Press Contact:
John Hoegerl, john@akfi.org
Scope of Work
The Tire and Cars Supply Chain Sustainability Task Force
A key misalignment exists between the requirements of car manufacturers and the ability of tire suppliers to provide timely, auditable, customized, and cost-effective sustainability data, strategies, and reports. Hence, the mission of the Task Force is to assist the tire industry in creating uniform best practices and standards for sustainability data handling when working with the car industry. The Task Force considers the requirements of European Union reporting under the Corporate Sustainability Reporting Directive (CSRD) and California’s sustainability reporting regulations, ensuring that the developed standard or best practice guide aligns with these regulatory frameworks.
Plan of Action
The study will be conducted in two phases: secondary research and primary research.
Secondary Research
Three distinct categories will be considered in carrying out the research work: Sustainability, Regulations, and Practices. The comprehensive secondary and primary research phase will be completed approximately within a time span of three months (July/August 2024). Simultaneously, engagement with Car and Tire Manufacturers will be ongoing from the starting date of the project. The ultimate goal of the research study will be documentation, whitepaper creation, and other related publication endeavors associated with the project.
Distinct Categories of the Project
Sustainability
- Car manufacturers are increasingly emphasizing sustainable practices in their supply chain, particularly in their requirements for tires from tire manufacturers. This includes a focus on sourcing, manufacturing, and delivery processes that minimize environmental impact and promote sustainability.
- Tire manufacturers are adopting sustainable practices and processes, such as eco-friendly sourcing and manufacturing methods, to align with the evolving sustainable requirements of car manufacturers.
- Important factors to be considered with respect to sustainability by tire manufacturers include material sourcing, energy-efficient manufacturing, and eco-friendly delivery methods. Similarly, car manufacturers prioritize sustainability in their tire supply chain, considering factors such as tire material recyclability, fuel efficiency, and end-of-life tire management. This data will be collected in the form of case studies that will provide valuable insights or benchmarks to the automobile industry.
Regulations
- The data collection process in this category will encompass gathering information on the European reporting requirements under the Corporate Sustainability Reporting Directive (CSRD study) and the USA reporting requirements under California’s reporting regulations.
- This comprehensive approach will involve understanding the specifics of the European and US reporting frameworks, allowing for a thorough analysis of the sustainability reporting standards and obligations set forth by these regulatory directives.
Practices
- To address the goals of the Task Force, the focus will be on identifying and preparing the best practices and standards essential for sustainability strategies and data reporting.
- This process will align with the mission of the Task Force, ensuring that the developed framework resonates with the core objectives. Moreover, the framework will be specifically tailored to align with the requirements of car manufacturers (customers) and the data submitted by tire manufacturers (suppliers), creating a cohesive approach that meets the needs of both stakeholders.
After completing the secondary research on the above-mentioned parameters, any existing research gaps will be identified. This study will help provide a comprehensive and impactful sustainability strategy that addresses the specific needs of the automotive industry while fostering sustainable practices across the supply chain.
Primary Research and Data Analysis Approach
The primary research phase will involve the development of structured questionnaires and invitations for moderated sessions aimed at engaging with Car Manufacturers (Customers) and Tire Manufacturers (Suppliers) to gain a deeper understanding of their respective challenges and issues. Subsequently, the collected data will undergo comprehensive analysis utilizing statistical tools, leading to the identification and development of tailored solutions and strategies for both customers and suppliers. These developed strategies will be carefully aligned with the requisite regulatory frameworks, ensuring compliance and efficacy within the sustainability reporting landscape.
Invitation to Tire and Car Manufacturers
Tire and Car Manufacturers will be invited to collaborate in the Task Force. This will include identification and selection of target companies and contacts within their organizations, followed by engaging and extending invitations through channels such as email and LinkedIn. In addition, the Task Force will define its scope of work, objectives, and deliverables to develop a standard, best practice, or guidance document. Subsequently, the group conducts thorough research, knowledge sharing, and analysis of best practices to gain a comprehensive understanding of supply chain sustainability standards and best practices. Through collaborative efforts, the Task Force aims to build consensus on the standards and best practices, drawing from diverse viewpoints and expertise. Furthermore, the drafted standard, best practice, or guidance document undergoes rigorous review and feedback collection from a wider audience, ensuring its robustness and applicability.
Dissemination of the Information
The findings of the study will be used to create a whitepaper, case studies, and presentations, providing valuable insights and benchmarks for the automobile industry. This dissemination will ensure that the developed standards and practices are widely recognized and adopted, leading to a more sustainable future for the Car and Tire industries.
By participating in this groundbreaking initiative, manufacturers can help shape the future of sustainability in the automotive sector, ensuring that their practices align with global standards and contribute to a healthier planet.
