Investor pressure on Nike 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.
Nike is struggling with sliding sales and also faces criticisms over its supply chain. Investment research firm MSCI downgraded its ESG (environmental, social and governance) rating for Nike in 2022 and 2023, and rates it as a “laggard” on supply chain labor standards.
