nike
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Nike investors seek changes on climate, labor and gender equity policies, but their proposals face rejection
Nike shareholders are pushing for changes in the company’s handling of climate change, labor rights and gender equity, but past votes suggest their efforts will likely fail.
Rob Davis reports for ProPublica and Matthew Kirk reports for The Oregonian.
In short:
- Nike shareholders will vote on proposals addressing carbon emissions, labor practices, and gender pay gaps.
- Since 1996, no shareholder proposal has passed due to opposition from Nike’s board, controlled by Phil Knight’s stock.
- Major investors, including Norway’s sovereign wealth fund, are backing the climate and labor proposals.
Key quote:
“It’s very disappointing to see this lack of response, lack of engagement from the company, coupled with what we know about the layoffs and restructuring of the staff working on sustainability.”
— Lisa Hayles, Trillium Asset Management
Why this matters:
Shareholder proposals reveal investor concern over corporate responsibility, but companies with powerful founders can resist change. Weak action on climate and labor issues may harm Nike's long-term reputation and sustainability goals.
Related: Nike cuts sustainability staff despite carbon goals
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Nike cuts sustainability staff despite carbon goals
Nike has laid off nearly one-third of its sustainability workforce, casting doubt on its commitment to reducing its environmental impact.
Rob Davis reports for ProPublica and Matthew Kish for The Oregonian.
In short:
- Since December, Nike has reduced its sustainability team by 30%, affecting staff focused on environmental initiatives.
- The cuts come as Nike struggles to meet its carbon reduction targets, with emissions having slightly increased since 2015.
- The layoffs were part of a broader $2 billion cost-cutting plan due to flatlining sales.
Key quote:
"Given Nike’s leadership and investment, their retreat is unfortunate, especially in light of the scale and urgency of the challenge."
— Ken Pucker, professor of practice at Tufts University
Why this matters:
Reducing sustainability efforts threatens Nike's environmental goals and undermines public trust in the company's commitment to addressing climate change. This shift could impact global efforts to meet climate targets.
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Mushroom leather, fermented silk: How can next-gen materials scale up?
Sustainable, animal-free fabrics have been used in capsule collections, but to have the greatest impact, they have to go from an alternative option to an everyday material.
Nike appears to be shredding brand-new shoes at a European recycling center
An investigation by German journalists alleges that the company is breaking German law by downcycling shoes that could be resold.
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