Nike Shareholders Reject Climate Transparency Proposal Backed by Norway Wealth Fund
Nike shareholders rejected a climate-related proposal urging the company to provide more transparency on its emissions-reduction targets. The resolution, backed by Norway's wealth fund and other investors, aimed to compel greater disclosure about Nike’s environmental goals amid growing scrutiny over green claims and regulatory pressure. The vote raises questions about whether Nike is maintaining sufficient commitment to its climate objectives as it faces financial challenges and leadership changes under CEO Elliott Hill. Despite the rejection, Green Century Capital Management emphasized that shareholders want clarity on progress toward emissions targets rather than questioning Nike’s overall efforts. Nike has previously committed to reducing carbon emissions by 65% in operations and 30% across its supply chain by 2030 but did not release specific vote tallies. The company defended the decision, stating it is best positioned to determine appropriate disclosures.
Tickers: $NKE
Topics: Climate Policy Shareholder Engagement Sustainability Reporting