American multinational sportswear company, Nike announced for the first time on March 10 that it will tie executive compensation to progress in diversity and sustainability targets. This news was a part of Nike’s 2020 impact report, which talks about the company targets as well as strategic plans for the future.
The new targets of 2025 include seeing 45% of women and 35% of racial minorities in leadership roles, reduction of greenhouse gas emissions in Nike-owned facilities by 70%, and multiplying the amount of product waste donated or recycled. Waste will be reduced by 10% per unit in manufacturing, distribution, headquarters, and packaging will be done through improved design and operational efficiency.
Nike has also given several updates about their sustainability and diversity targets which include the use of 100% renewable energy in the US and Canada-based facilities along with 50% representation of women across the country globally. President and CEO of Nike, John Donahoe said that they know that the work is just the beginning but they felt proud of the success they have achieved.
The impact report claims that they have seen progress throughout the supply chain through diverting manufacturing waste from landfills and enhancing renewable energy. The FY20 target of Nike was also achieved which was the reduction of freshwater usage in textile dyeing and finishing suppliers by 30%.
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