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Nike Investors Reject Proposals On Pay Equity And Human Rights
Eko Hot Blog presents that I nvestors in Nike have rejected two proposals from shareholders that would have required the company to provide more information about pay equity and human rights in its supply chain.
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One proposal, filed by investment adviser Arjuna Capital, called on Nike to publish data on pay equity for female and minority employees. The second proposal, filed by shareholder advocacy group Tulipshare, asked Nike to issue a report on whether its supply chain policies are effective in addressing the company’s stated goals of equity and human rights.
Proposals need more than 50% of shareholder votes to pass, but Nike is not required to adopt them. The company will release the final vote tally in a future filing with the US Securities and Exchange Commission.
Arjuna’s proposal on pay equity reporting failed for the second time since 2021, despite the support of proxy advisory firm Institutional Shareholder Services, which recommended that investors vote for the proposal in August.
FURTHER READING
Nike has faced growing pressure to improve transparency in its supply chain. More than a dozen investors have called on the company to pay garment workers in Cambodia and Thailand who lost wages after COVID-19 factory shutdowns. Nike has said that it has not sourced product from the Cambodian factory since 2006 and that it found “no evidence” that it owed workers in Thailand back pay.
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