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The Nike Inc FY20 Impact Report addresses and assesses its 2020 targets, which were set in 2015, and sets new corporate targets for 2025 |
Nike Inc has established its new five-year roadmap for global impact, which encompasses 29 new targets and sees the US sporting giant tie executive compensation to its progress in deepening diversity and inclusion, protecting the planet, and advancing ethical manufacturing for the first time.
The Purpose 2025 Targets are outlined in the company's latest Impact Report 'Breaking Barriers' and span people, community, and planet.
Among the targets is a 70% absolute reduction of greenhouse gas (GHG) emissions in owned or operated facilities through 100% renewable electricity and fleet electrification, and a 10% waste reduction per unit in manufacturing, distribution, headquarters, and packaging through improved design and operational efficiency.
Nike is also aiming for a 25% reduction in freshwater usage per kg in textile dyeing and finishing and to adopt clean chemistry alternatives for its ten ten priority chemistries across its supply chain.
In addition, the company plans to have 50% representation of women in global corporate workforce and 45% in leadership positions by 2025, amid a target for 100% of its strategic suppliers to increase access to career opportunities and upward mobility for women employed in their facilities.
"Our Purpose 2025 Targets are not just aspirations. They are a call to action – with clear goals, strategies, and accountabilities," says Nike president and CEO John Donahoe in an introduction to the report. "We are also redefining what responsible leadership looks like. For the first time, we will tie executive compensation to Nike's progress in deepening diversity and inclusion, protecting the planet, and advancing ethical manufacturing.
"Our goal is, and always will be, for Nike's people and purpose to come together for good. At Nike, we'll never stop striving for better. Our purpose will always guide us, and our values will always push us forward – toward that better future we believe in."
The new targets come as the company provides its final performance update on its 2020 targets and measures.
Set in 2015, the 34 goals focused on three areas of impact: sustainability, diversity and inclusion, and community investments.
"We are proud of the progress we have made. We also recognise that in setting ambitious targets, our performance wasn't going to be linear. And no doubt, we will continue to face challenges in our work ahead. We remain committed to meaningful action, strategic adaptation, and continual learning in our pursuit of progress," Nike said its report.
In terms of its progress, Nike has achieved its target of sourcing 100% of its cotton more sustainably across the business and increased its use of sustainable materials in footwear and apparel.
It has also hit its target to eliminate footwear manufacturing waste to landfill or incineration, with 99.9% of its manufacturing scraps at Tier 1 finished goods footwear suppliers diverted from landfills in FY20. About 7% of the waste that was generated was recycled through Nike's closed-loop recycling programmes, 38% was recycled into other companies' products, and 54% went to energy recovery.
Other achievements include surpassing its target to reduce freshwater use in textile dyeing and finishing by 20% with a 30% reduction on the baseline year.
However, the company failed to meet its target for a 10% reduction in the average environmental footprint and cited "substantial progress" in its efforts to achieve 100% compliance with ZDHC Manufacturing Restricted Substances List (MRSL).
"We're proud of the successes we've seen, but we know the work is still just beginning," Donahoe says. "We will continue to strive to lower emissions across our key operations, to shrink our product carbon footprint, to accelerate diversity and inclusion across our teams, to enable kids to have access to play and sport. We will always challenge ourselves to do better. Always."
Last month, Nike acquired data integration platform start-up Datalogue as part of its consumer-led digital transformation.
It also recently outlined a series of senior leadership changes to continue the momentum of its Consumer Direct Acceleration (CDA).
Click here to read the report in full.
The Link LonkMarch 16, 2021 at 09:08PM
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