Nike is struggling with sliding sales and also faces criticisms over its supply chain
is building ahead of Tuesday’s annual shareholder meeting, with Norway’s sovereign wealth fund pledging to back a resolution demanding the company consider ways it can improve working conditions at garment factories.
Domini was among more than 60 investors last year to sign a joint letter to Nike urging it to pay $2.2-million in wages to workers at suppliers in Cambodia and Thailand whom rights groups said were denied severance pay owed to them after factory shutdowns during the pandemic. Reuters could not independently verify the allegations, and Nike has denied them.
The resolution reflects a push from some investors for Nike to create binding agreements with workers at factories and suppliers in countries where worker exploitation is a problem. Several investors told Reuters that Nike’s lack of response to the 2023 letter, and to requests for meetings, were concerning.
Nike has also urged shareholders to reject a separate proposal from investor Tulipshare, which urges Nike to assess the effectiveness of its supply chain management.
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