Activist investor Tulipshare has filed a shareholder proposal requesting Nike’s board oversee and issue a report to shareholders assessing the effectiveness of its supply chain management infrastructure in ensuring alignment with the company’s equity goals and human rights commitments. Tulipshare recommends that the report outlines the methodology and metrics used to track and measure the company’s performance on forced labour and wage theft risks, ensuring that these are consistent with the Organisation for Economic Co-operation and Development’s guidelines, UN Guiding Principles, and Sustainable Development Goals. It also recommends that the report includes consideration of American Bar Association Model Contract Clauses on human rights in the supply chain, and outlines whether the assessment yields any changes to Nike’s company policies, decision-making and implementation mechanisms. “Across the apparel industry, forced labour occurs both in the production of raw materials and during manufacturing, especially at lower tier suppliers,” said Antoine Argouges, CEO and Founder of Tulipshare. “With our proposal now headed to the AGM, we call upon all investors to band together, use their collective shareholder powers and encourage Nike to adopt stronger environmental and social commitments, ensuring that one of the most beloved companies in the world is being responsibly managed with leadership accounting for all material risks and opportunities.”
Some news – we've taken our Nike campaign to the next level https://t.co/BdSZjYPWMd
— Tulipshare (@tulipshare) March 31, 2023
