#Nike is under fire from a group of investors ahead of the company’s annual meeting on Tuesday for failing to address allegations of wage theft at two supplier factories.
In a letter sent to the sportswear giant late last week, a coalition of shareholders led by Dutch bank ABN Amro and UK-based ethical fund manager CCLA Investment Management urged the company to help settle claims of outstanding payments worth an estimated $2.2 million made by garment workers at factories in Cambodia and Thailand.
At present only a handful of investors have publicly signed on, but more shareholders are expected to join this week.
The letter ratchets up the pressure on Nike to address criticism of its handling of labour complaints in its supply chain. In July, in an unusual move targeting a single company, nearly 60 labour and human rights advocacy groups published a statement calling on Nike to ensure workers receive the compensation they claim to be owed in the same Cambodian and Thai cases.
Read the full story in our #linkinbio.
✍️ @sarahkentnews
📷 Nike
In a letter sent to the sportswear giant late last week, a coalition of shareholders led by Dutch bank ABN Amro and UK-based ethical fund manager CCLA Investment Management urged the company to help settle claims of outstanding payments worth an estimated $2.2 million made by garment workers at factories in Cambodia and Thailand.
At present only a handful of investors have publicly signed on, but more shareholders are expected to join this week.
The letter ratchets up the pressure on Nike to address criticism of its handling of labour complaints in its supply chain. In July, in an unusual move targeting a single company, nearly 60 labour and human rights advocacy groups published a statement calling on Nike to ensure workers receive the compensation they claim to be owed in the same Cambodian and Thai cases.
Read the full story in our #linkinbio.
✍️ @sarahkentnews
📷 Nike
