Nike to tie exec pay to progress in deepening diversity and helping environment

Nike (NKE) released its FY20 Impact Report and 2025 targets, and the Swoosh brand is investing in its employees, water conservation, reducing its carbon footprint, education, and the Black community.

Nike has developed 29 targets to achieve over the next five years that CEO John Donahoe says represent "a true inflection point.” Some of the targets:

• 50% representation of women in global corporate workforce

• 35% representation of racial and ethnic minorities in U.S. corporate workforce

• 100% women in supply chain have increased access to career opportunities

• $125 million invested to support organizations leveling the playing field and addressing racial inequality

• $10 million investment in historically Black colleges and universities and Hispanic-serving institutions to increase intern and direct hires

• 50% girl participation in Made to Play community programs

• 10x amount of finished product waste refurbished, recycled or donated

• 2% Investment of prior- year pre-tax income to drive positive impact in communities

“Our Purpose 2025 Targets are not just aspirations. They are a call to action – with clear goals, strategies and accountabilities. We are also redefining what responsible leadership looks like. For the first time, we will tie executive compensation to Nike’s progress in deepening diversity and inclusion, protecting the planet, and advancing ethical manufacturing,” Donahoe said.

Nike CEO John Donahoe — NIKE (NIKE)

As part of a $140 million investment in the Black community, Nike has also entered into a new partnership with National Urban League to help foster employment and homeownership.

“The National Urban League has been championing the elevation of Black lives and empowerment of Black communities for over 110 years,” says Marc H. Morial, president, and CEO of National Urban League. “With Nike Inc.’s investment, we’ll be able to both get more people to work in living-wage jobs ... and expand homeownership opportunities for Black individuals and families across the United States.”

Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.

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