esg-market-cases
Nike Shareholders Ask Again: Can the 2030 Reduction Targets Really Be Met?
A shareholder proposal demanding the disclosure of an implementation plan for existing climate reduction targets was defeated at Nike's virtual annual general meeting. Green Century sought a path and resource allocation plan to achieve existing targets rather than new ones. The Nike board maintained that current disclosures are sufficient and that targets and related disclosures are a matter for management to make a decision on. Pointing out that detailed explanations of implementation have decreased in recent public disclosures, institutional investors such as NBIM also cast public supporting votes. This case shows that the issue of ESG is shifting from declaring targets to a stage of proving the execution process and board oversight.
A shareholder proposal demanding the disclosure of an implementation plan for existing climate reduction targets was defeated at Nike's virtual annual general meeting. Green Century sought a path and resource allocation plan to achieve existing targets rather than new ones. The Nike board maintained that current disclosures are sufficient and that targets and related disclosures are a matter for management to make a decision on. Pointing out that detailed explanations of implementation have decreased in recent public disclosures, institutional investors such as NBIM also cast public supporting votes. This case shows that the issue of ESG is shifting from declaring targets to a stage of proving the execution process and board oversight.
Defeat of Nike Climate Disclosure Shareholder Proposal, Questions ESG Boards Must Answer Rather than how high reduction targets are set, the issue of how those targets are implemented and supervised is becoming increasingly important.…
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