Liberty Tire Recycling | 2022 Environmental, Social & Governance Report 13 ZERO WASTE GOAL Liberty Tire aspires to have 100% of tires we collect enter end use markets by 2030.” Liberty Tire takes pride in our efforts to transform endof-life tires into usable products, realizing the significant advantages of reducing greenhouse gas emissions and diverting these tires away from landfills. In 2021, members of the U.S. Tire Manufacturing Association (USTMA) reported a utilization rate of 71% for end-of-life tires, with the balance being sent to landfills. Many factors contribute to the inability to recycle all tires, such as limited markets for recycled products due to geographical constraints, low consumer demand, or a scarcity of applications for the recycled material. Liberty Tire achieved an industry-leading 74.4% utilization rate in 2022. While we have made great progress thus far, we acknowledge there is much work ahead to achieve our zero waste goal of 100% utilization rate from the end-of-life tires we collect by 2030. Our aim is to ensure that every tire we collect will be reused, repurposed, or recycled, with no tires or tire components ending up in landfills. While our goals are ambitious, it is noteworthy that, according to the USTMA, only batteries and cardboard are recycled at higher rates than endof-life tires. End-of-life tires continue to find end uses at a higher rate than glass, plastic, aluminum, metal, and paper. Liberty Tire has set a more ambitious, longer-term goal that all end-of-life tire material will be utilized in low, or no carbon closed loop applications by the year 2050. At present, a portion of our end-of-life tire material is consumed as tire-derived fuel by our customers. Although tire-derived fuel serves as an alternative to conventional fossil fuels like coal, it is not the highest and best use for those tires. This goal represents a challenge for us to elevate our material up the value chain, aligning with our commitment to sustainability and reducing carbon emissions. The goals we have set at Liberty Tire are bold and transformative, and achieving them will require the collective efforts of every individual within our organization. As we move forward, there are numerous avenues to explore on our path to success. Our strategy to attain zero waste includes: Developing new markets Developing new products Collaborating with industry partners Piloting innovative products and processes Our strategy to reach these zero waste goals can be found throughout this report. Attaining these goals is our highest priority and is the basis of everything we do.
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