shareholder proposal (14a-8) · 2023
Domini Impact Investments at Nike
Asked Nike to publish a report on worker-driven social responsibility and explain why it has not joined binding worker-safety agreements like the Pakistan Accord (which competitors Adidas and Puma have signed), and raised concerns about forced labor and roughly $2.2 million in allegedly unpaid wages owed to about 4,000 garment workers in Cambodia and Thailand.
What happened
Result: Moved by an investor group led by the Domini Impact Equity Fund and voted at Nike's September 10, 2024 annual meeting as Proposal 6, Worker-Driven Social Responsibility. It was not approved: 140,736,818 votes for and 999,936,226 against, with 9,627,068 abstentions and 123,095,933 broker non-votes, which is 12.3 percent of the votes cast for and against. Nike's board recommended a vote against. Norway's sovereign wealth fund, Nike's ninth-largest shareholder, backed the proposal in the week before the meeting.
No change in Nike's supply-chain labour agreements or practices attributable to this campaign was found in the sources opened.
Nike shareholders vote against proposal on workers' rights, Reuters (via Yahoo Finance)
Who is involved
- Domini Impact Investments filer
- a coalition of over 60 investors co-filer
- Nike, Inc. company
What this campaign is about
- Protect labor rights and safe working environments Pivotal · UN Sustainable Development Goals
- Eradicate forced labor, modern slavery, trafficking Necessary · UN Sustainable Development Goals
- Companies adopt sustainable practices and reporting Pivotal · UN Sustainable Development Goals
- Addresses human rights in supply chain Pivotal · JUST Capital
- Income and Work Necessary · Doughnut Economics
- Include enforceable labor standards in trade agreements Helpful · Common Ground of the American People