Nike shareholders have voted down a resolution requesting increased transparency regarding the sportswear maker’s progress toward its long-term climate targets, the company announced on Tuesday.
The proposal, submitted by Green Century Capital Management, urged Nike to disclose detailed operational plans explaining how it intends to meet its corporate emissions reduction goals. In 2019, the Oregon-headquartered company pledged to cut carbon emissions across its direct operations by 65 per cent and across its supply chain by 30 per cent by 2030. In its fiscal 2024 update, Nike reported an 11 per cent decrease in supply chain emissions against a 2015 baseline.
The board of directors urged investors to reject the motion, stating in regulatory filings that management remains committed to greenhouse gas reductions and is best positioned to evaluate appropriate target disclosures. The company did not immediately publish detailed voting tallies.
Key outcomes and governance details from the annual meeting include:
- Shareholder Alignment: Norges Bank Investment Management, operator of Norway’s sovereign wealth fund and Nike’s 11th-largest shareholder, voted in favour of the climate disclosure proposal.
- Executive Compensation Approval: Shareholders approved the company’s executive pay packages, including total compensation exceeding $36 million (£27.5 million) for Chief Executive Officer Elliott Hill for fiscal 2026. The measure passed despite opposition from Norway’s wealth fund and negative voting recommendations from proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS).
- Additional Proposals Defeated: A separate resolution introduced by conservative investor groups requesting the exclusion of gender-transition care for minors from employee health benefit plans was also rejected.
The vote comes as Nike contends with revenue pressures and a 40 per cent share price decline year-to-date, prompting management to focus on product innovation and operational restructuring.
Giovanna Eichner, shareholder advocate at Green Century Capital Management, stated: “It’s not that we think Nike is completely dropping the ball here. It’s more that we want to know what’s really going on. It’s unclear if there’s that same level of commitment toward achieving the goals.”
