At Nike, innovation is a mindset—one that challenges us to dream bigger and get better, everyday. By partnering with the greatest roster of athletes on the planet, we can transform their insights into products that empower every . Rather than compile a report on all the social efforts taken for that year, the NFL ought to establish a program like NBA Cares that permits players to speak and raise awareness about issues they . The company even offers the infant version of iconic shoes and much more. As the firm manufactures products sold directly to consumers, it's at the front-line in terms of reputation management. A CSR report is a formal document that assesses how a company's operations affect the world around them. PRODUCT HIGHLIGHTS. and these form its corporate social responsibility. It's hard to believe, given the steady stream of corporate social responsibility (CSR) accolades the company has racked up in the last 10 years, that Nike was facing boycotts and public ire . According to Archie Carroll, stakeholders are individuals or groups that have a significant stake in what the business does. This is because corporate social responsibility is an ongoing journey. NIKE'S CSR PROGRAM 3. One slip up can be bad for business, even if the ball is dropped by one of Nike's suppliers or sub-suppliers. . . Corporate social responsibility is a way of doing business that aims to increase a company's social impact while meeting business objectives such as growth and revenue goals. The company has declared that they are committed to the Paris climate agreement's goal. . The World Is Our Community. Description of actions or relevant policies related to Environment. Customers are significant because they affect the company's revenues from the sports shoes, apparel and equipment market. A number f people had won the number of competitions by using Nike's brands like shoes, uniform, etc. For the most up-to-date goals and progress, see our 2021 Global Environmental & Social Impact Report. . Operating 566 factories, employing over a million workers, Nike is responsible for the well-being of those workers and the communities they live in [3]. Corporate social responsibility is a voluntary activity conducted by organizations in an attempt to achieve sustainability. Nike mission statement is . As part of corporate social responsibility and meeting the ethical needs of stakeholders, it is imperative that organisations adhere to societal/environmental requirements. In 2020, we introduced our newest member of the award-winning Adizero family: the Adizero Adios Pro. Corporate Social Responsibility. To this end our Sustainability, Diversity and Public Policy Committee provides more focused oversight of key sustainability, diversity and public policy matters. This annual report covers our CSR efforts and achievements during fiscal year 2020, which ended on January 30, 2021, as well as certain other . Companies can deploy CSR efforts as a standalone program or as part of a . follow each step in our journey and discover new ways we can move to zero together. NIKE performs well based on its peers as well as companies in similar geographic regions. Nike, Inc.'s CSR ef fort. Companies performing well on this issue typically are more profitable than its peers, while companies with very poor scores typically have greater stock price volatility and lower returns on capital. enough to be considered socially responsible, Nike increased its corporate social responsibility efforts. Usnik said the events of 2020 provide an opportunity for philanthropic funding and companies from Apple to Nike to Goldman Sachs have responded with financial aid and in-kind support. at select nike stores, sustainability services are our way of inviting you to move to zero with us, because we can only get to zero by moving there together. Its gross margin in 2019 grew to 44.7% from 43.8% in 2018. The efforts included $30 million for food and medical care and a $5.7 million dollar donation of footwear and apparel to healthcare professionals and front-line workers. We've set bold, science-based targets, and we're optimistic—our successes and failures over the past 30 years are inspiring the solutions and resolve to create a future in which we all thrive. McDonald's released the Framework in conjunction with the Company's 2012-2013 CSR & Sustainability Report. 2020). And no other brand depicts this better than NIKE. Our Caesars Entertainment PEOPLE PLANET PLAY 2020-2021 CSR Report represents our 12th year of reporting on important areas of social and environmental impacts that we generate as we pursue our business objectives. Companies are assessed on factors such as board diversity and senior management diversity. • Paid leave support. Social. . Description of actions or relevant policies related to Human Rights. In addition, Nike has spoken about its efforts to promote the equality racial and gender, both within the company and in society in general. By 2020, Nike targets to have 100% of its factories improve to the highest required SMSI scores [4]. 1 It can also refer to any effort to improve a company's eco-friendliness or carbon footprint. Corporate Social Responsibility (CSR) is an evolving concept that reflects various views and approaches regarding corporate relationships with broader society. Ethical Consumer regarded USCIB to be a corporate lobby group which lobbied for free trade at the expense of the environment, animal . Running Head: Social Responsibility Strategy 1 Social responsibility strategy for Nike, Inc. limited Name Class Affiliation Instructor Date Social Responsibility Strategy 2 Introduction The company that I am going to develop a social responsibility strategy is the Nike Company that was formed in 1962by Bill Bowerman and Phil Knight as a result of collaboration of the two to come up with the . Nike Inc released its fiscal 2007 to 2009 Corporate Responsibility (CR) report which outlines the next evolution of its CR strategy from a risk management, philanthropic and compliance model to a long-term strategy focused on innovation, collaboration, transparency and advocacy. Nike promised to raise its contractors wages above minimum wage to $26.00-$37.50/month and to monitor its third party contractor wages. 2020 Corporate Social Responsibility Report. Executive Summary. This study examines the meanings and . The report can cover economic, environmental, and/or social impacts, depending on what the company does. Our commitment to sound principles of corporate governance and ethics sets the foundation for our sustainability program and helps us maintain the trust and confidence of our employees, customers, shareholders, suppliers, and other external stakeholders affected by our operations. corporate website, located at investors.nike.com , we post the following filings as soon as reasonably practicable after they are electronically filed with, or furnished to, the United States Securities and Exchange Commission (the "SEC"): our annual report on Form 10-K, our quarterly reports on Form 10-Q, our current reports on Form 8-K and These commitments align with and support the UN Sustainable Development Goals ( SDGs ). References. We're working to increase that number because adjusting materials, which are about 70% of our total carbon footprint, is one of our biggest opportunities to reduce our impact. In 2020, the company exceeded its target by investing 1.9% of its PTI. . We're primarily responsible for creating, implementing, and operationalizing policies, standards, procedures, and structures related to labor . The total actual amount spent on CSR projects and programs of the Company through March 31, 2019 was INR 199,533,243. Through a variety of processes, including stakeholder . Nike is the world's largest supplier and manufacturer of athletic shoes, apparel and sports equipment. By 2025, Nike said, it aims to achieve 50% representation of women in its global corporate workforce (which doesn't include retail store and warehouse workers), and 45% representation of women . Our 2019 Corporate Responsibility Report expands on the following commitments: SAFETY In 2019, Delta's safety culture enabled the company to maintain a 3.9 percent Total Recordable Injury Rate performance, the same rate as 2018 and 43 percent better than the industry average. So, they have joined hands with their material vendors and contract manufacturers to . Nike released an updated version of its Corporate Social Responsibility report last week, and while many mainstream media outlets reduced its contents to a simple reduction in overtime, the company actually laid out a broad series of goals that will likely have a serious impact on the way sourcing is conducted in the future. The NFL could have engaged in corporate social responsibility (CSR) efforts to lead to a more positive outcome amongst the NFL and its players. The gross profit of the company grew to $17.5 billion in 2019 from $15.95 billion in 2018. Today, Nestlé released its 2020 Creating Shared Value (CSV) and Sustainability Report. 101 mission statements from top companies: Plus guidelines for writing your own mission statement. The company has built its name over producing great products. . [10] Nike, Inc., Investor Day Report, (August 2017 . Corporate Social Responsibility-Nike Essentially, Corporate Social Responsibility Nike ( CSR ), is a concept in management which states that organizations must integrate social and environmental concerns and find a common ground that maximizes profitability and reduces adverse impacts to the outside world. IKEA Corporate Social Responsibility Policy. NIKE Global Impact and CSR Report - NIKE Spent $81.9 million on community development By The CSR Journal - October 13, 2020 Girls get it done. SASB Reference Guide. Moving to complete renewable energy. Our long-established values have always included a . It is difficult to summarize the entire CSR effort by such a large firm. Ecosystems. 5. (2007). Overview of Volkswagen Corporate Social Responsibility. Nike's new corporate social responsibility policy was established with the general understanding that if there is no planet, there is no sport . The company's vision is to reduce its environmental impact by sustainable use of resources, such as materials, water, and energy. The company said in a statement that its increased focus on . according to company sources, nike's approach to community development departs from traditional giving and philanthropy and instead seeks to deliver impact at scale.9 the company strives to meet an annual target to invest at least 1.5% of pre-tax income in the international communities in which it operates.10 its long-term commitments include … Yes, the same company that funds organizations asking for reparations for a practice that ended in the US in 1865 has actually used slave labor in China to make its products — and its profits . We regularly rate factories on their ability to comply with these standards by means of conducting announced and . Nike, Inc. has developed into a prototype for some businesses. Our sustainability vision is to be recognized as a leader in sustainable retail real estate development and operations in the U.S. Ten Speed Press. In April 2020, we shared Capri's group-wide, global corporate social responsibility (CSR) strategy, set around the environmental and social sustainability opportunities and challenges most important to our company and its stakeholders. For decades, we have been helping all families discover the joy of everyday life. The 108-page report, Nike's first public corporate responsibility report since it made the decision to stop reporting in October 2002 when it petitioned the U.S. Supreme Court to hear the Kasky v. Nike First Amendment case, was released in conjunction with the annual Ceres conference in Boston, MA. Goodyear, like so many other companies, had to make some difficult decisions to address it, including the temporary grounding of our fleet of airships. Its gross margin in 2019 grew to 44.7% from 43.8% in 2018. Abrahams, J. Corporate Social Responsibility Annual Report FY 2018-19 2 4. Its battle may be won, but there are still more battles to be fought and won, and more miles to be run. because of the company's CSR efforts, and regardless of the fact that what the . Nike has been courting several controversies that relate to ethics and child labor in its supply chain in the past. We invite you to read about our year of change, what we've accomplished together, and more, in this report. Since the launch of its People & Planet Positive program in 2012, IKEA has grown into the third most globally recognized leader in environmental sustainability and social responsibility. Nike's COVID-19 response was widespread, covering the costs of food and apparel for global communities and extra assistance for their employees. Under Armour's Sustainability Team is one of the catalysts for creating a profitable and resilient company fiercely committed to shaping our legacy with our athletes, our teammates, and our partners. Overall, in the case of Indonesia, Nike had a rough start but over time incorporated its corporate . The goal is to limit global warming to 2°. Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. Rather, there is a continual process of development. In 2020, these efforts included a joint commitment by Nike, Converse, Jordan Brand and Michael Jordan group companies of $140 million to organizations dedicated to promoting equality race in America. There is no one "right" way companies can practice CSR; many corporate CSR initiatives strive to positively contribute to the public, the economy or the environment. The story of the Adizero franchise began in Berlin in 2008, when Haile Gebrselassie broke his own marathon world record and became the first person to run the race in under 2 hours and 4 minutes - wearing the Adizero Adios. Nike Impact Report. NIKE, Inc. has been reporting on our environmental and social impacts for nearly two decades. Nike Annual Impact Report 2020. move to zero is nike's journey toward zero carbon and zero waste to help protect the future of sport. Nike's race is not run. Nike Inc. maintains corporate social responsibility (CSR) programs to address the interests of its major stakeholder groups. The results reinforce points discussed in the stakeholder and corporate social responsibility literature when considering the prioritization of primary stakeholders at the expense of secondary stakeholders in an organization's processes and actions, in addition to the importance of developing different engagement strategies for different groups . See Our People Bloomberg Businessweek helps global leaders stay ahead with insights and in-depth analysis on the people, companies, events, and trends shaping today's complex, global economy The company influences them, and they influence the company in return. Ethical Consumer regarded USCIB to be a corporate lobby group which lobbied for free trade at the expense of the environment, animal . Nike's CSR policy is extensive and detailed and the 2020 statement is a marathon 111 pages long. GOVERNANCE AND SUSTAINABILITY AT NIKE, Inc. Nike was the world's best footwear and the apparel company with its best-known brand and over $20 billion in revenue. Keeping human voice at the heart of everything it does from manufacturing to marketing. But those . Introduction. The 2020 ESG Report is a snapshot of Delta's environmental, social and governance progress covering the period from January 1 to December 31 and takes a detailed look at important areas like health and safety, climate change, and human capital management, including diversity, equity and inclusion, as well as the governance framework we have . The total amount of CSR expenditure to be spent by the Company during the fiscal year ended March 31, 2019 of INR 161,253,659. McDonald's Corp. today announced its first Corporate Social Responsibility & Sustainability Framework that is designed to position the company for the future, while generating measurable, positive impacts for society. Description of actions or relevant policies related to Labour. There is no "endgame.". Nike corporate social responsibility report 2018 Nike's President and CEO John Domahoe in his letter for 2020, highlighted some critical areas where the company had made significant progress: Our FY20 NIKE, Inc. Nike mission statement remains unchanged through 2020 and 2021. Communication on Progress_Nike FY21 Impact Report. Nike also enjoys the best profit margins in the industry. Description of actions or relevant policies related to Environment. This year's report represents the completion of the majority of Nestlé's public commitments. A CSR report can improve a company's image, warn company leaders of dangerous shortcomings in corporate social responsibility, and . Description of actions or relevant policies related to Human Rights. Nike CSR and Sustainability Main points : - Commitment to reducing the carbon footprint Innovative manufacturing. By 2025, Nike said, it aims to achieve 50% representation of women in its global corporate workforce (which doesn't include retail store and warehouse workers), and 45% representation of women . To read a message from our Chief Executive Officer, Barbara Rentler, and for an in-depth look into our CSR efforts and achievements, download the full report. Includes a CEO statement of continued support for the UN Global Compact and its ten principles. CH01 REPORT ELEMENTS NIKE, Inc. Corporate Responsibility Report FY07-09 7 BUSINESS OVERVIEW 8 /*,& *OD #VTJOFTT 1FSGPSNBODF 4BMFT 6 4 *OUFSOBUJPOBM CZ 1FSDFOUBHF They focus on promoting healthier lives for adults and children, improving . This Committee is comprised entirely of independent directors and reflects a mix of public policy, risk, international and science-related skills, qualifications and experience. We're working towards our commitment to protect more land than we use by 2025. We do this by striving to operate responsibly along the entire value chain, by safeguarding the rights of our own employees and those of the workers who manufacture our products through our Workplace Standards, and by applying our influence to effect change wherever human rights issues are linked to our business activities. • Free access to health care through virtual doctor visits for all team members. Within each of our strategy's foundational pillars are key CSR focus areas that guide our work in support of . Take recycled polyester. . In February 2020 Nike was listed as a member of the US Council for International Business (USCIB). A good corporate social responsibility program is consistent with the company's activities and provides economic benefits in the form of improved brand reputation, enhanced productivity, and, by extension . The gross profit of the company grew to $17.5 billion in 2019 from $15.95 billion in 2018. [2] With an ambitious and innovative agenda, IKEA's 2020 Corporate Social Responsibility (CSR) goals center on . Nike is the world's largest supplier and manufacturer of athletic shoes, apparel and sports equipment. We believe in the power of sport to move the world. With a mission to inspire and nurture the human spirit, Starbucks has always looked to make positive connections and impacts on people and communities around the world. Core to adidas' human rights approach is our commitment to ensuring fair labor practices, fair compensation and safe working conditions in factories throughout its global supply chain.Our efforts are guided by the adidas Workplace Standards, our supply chain code of conduct. In fiscal 2020, Nike's gross margin reduced mainly due to the impact of Coronavirus falling to 43.4%. This is why if we are serious about corporate social . Inventing close-loop products. However, we attempt to provide key points from their annual sustainability report. Perhaps, the company has been investing recently in corporate social responsibility and its sustainability. Nike is focusing corporate responsibility efforts in the areas in which they can have the greatest impact and create the most value: Through the materials they design into products, through the process of making those materials and products, and in the world of sport where products are used. Includes a CEO statement of continued support for the UN Global Compact and its ten principles. This summary shows our progress in fiscal 2020, including our achievements . Invested an additional $1 billion in the well-being, health and safety of team members, including: • Increased wages and bonus payouts. We can very well say that, indeed, there is an effort to pursue corporate social responsibility which is essential for companies. Report this post Joshlyn Walton, MSOL . In February 2020 Nike was listed as a member of the US Council for International Business (USCIB). CSR Reports. In 2020, we updated our sustainability strategy towards 'Creating Sustainable Centers' and set new focus areas and long-term commitments to increase our socio-economic impact while reducing our environmental . The work is grounded in our commitment to transparency, a tradition that is not only important to the long-term health of the company, but also for our people — our consumers, our employees and those in our supply chain — and the planet. Nike also enjoys the best profit margins in the industry. 4. Corporate social responsibility (CSR) is a type of business self-regulation with the aim of being socially accountable. Nike's corporate social responsibility strategy gives top priority to customers as a stakeholder group. Review, provide guidance to management, and report to the Board on the Company's significant strategies, activities, policies, investments and programs regarding corporate purpose, including corporate responsibility, sustainability, human rights, global community and social impact, and workplace diversity and inclusion, and review reports of . 2020 CORPORATE RESPONSIBILITY REPORT BETTEFUTURER INDEX DATA 2 FEATURED ON THE COVER In 2020, the world faced unprecedented challenges and uncertainty created by the COVID-19 pandemic. However, Nike was unable to do so in 2015 when the company received a poor rating in the Ethical Consumer's Environmental Report (Nike, 2017). We also introduced a Planetary Computer in 2021, a first step towards providing an efficient, scalable way to monitor, measure, and ultimately manage the impact of our actions or inactions on ecosystems—both globally and locally. Sustainability & Purpose at Nike. Description of actions or relevant policies related to Labour. In the case of Nike Inc., these stakeholders' interests include high quality products and reasonable prices. Develop a new palette of sustainable materials. Sustainability website link. Truly, Nike's approach to managing supplier duties and challenges has grown significantly over the previous two decades, with the business building a strong system of supplier monitoring, auditing, and remediation. Social & Community Impact. In fiscal 2020, Nike's gross margin reduced mainly due to the impact of Coronavirus falling to 43.4%. Currently, 78% of all NIKE, Jordan, and Converse products contain some recycled material. 5. Communication on Progress_Nike FY21 Impact Report. We're scaling sustainable innovations throughout our whole business to reduce Nike's environmental impact.