Page 27 - Vaculug Sustainable Report 2022
P. 27

Areport by the World Meteorological Organization published in May 2023 indicated that, for the first time ever, the world is on track to surpass the 1.5C global warming threshold that has been
1
set for this decade . The reports states
there is a 66% chance that the world will surpass this threshold for at least one year before the end of this decade. The need for the world to accelerate efforts to reduce GHG emissions has never been greater.
For its part, the transport industry accounts for approximately one quarter of global GHG emissions2.
And while we are operating in a carbon intensive industry, our retreading business model, by definition, is a circular one.
a ciRcuLaR business ModeL
A circular business model is an economical and operational model that aims to decouple economic growth from resource consumption.
The concept of circularity embraces the idea of sustainability, which is defined by the UN as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” It is also closely linked to the global SDGs, namely SDG 8 (Decent Work & Economic Growth) and SDG 12 (Responsible Consumption and Production), which we aim to support with our sustainability strategy and commitments.
The retreading industry is by its very definition circular. The industry reduces costs for governments and municipalities by diverting tyres from landfill, provides employment opportunities for SMEs, and
it contributes to the reduction of carbon emissions within the manufacturing sector.
According to an article by the Earthbound Report, the remanufacturing industry in the UK saves an estimated 10 million tonnes of CO2 every year3.
At the centre of our circular approach is our
retreading process, which can also be referred to as a remanufacturing process. Remanufacturing is defined as “a series of manufacturing steps acting on an end- of-life part or product in order to return it to like-new or better performance, with a warranty to match”4.
The practice aims to make a product ‘as new’, or
in some cases better than new where standards
and regulations are higher. In the UK, for instance, retreaded tyres must meet the exact same standards as new tyres5.
1Source: https://library.wmo.int/doc_num.php?explnum_id=11611, accessed May 2023.
2Source: https://www.un.org/sites/un2.un.org/files/media_gstc/FACT_SHEET_ Climate_Change.pdf, accessed May 2023.
3Source: https://earthbound.report/2014/12/11/what-is-remanufacturing/, accessed May 2023.
4Source: https://earthbound.report/2014/12/11/what-is-remanufacturing/, accessed May 2023.
5Source: https://earthbound.report/2017/06/29/what-can-the-world-do-with-1- 5-billion-waste-tyres/, accessed May 2023.
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