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Nike Opens Up
(WORLD) In Nike's 'FY04 Corporate Responsibility Report' is a bold attempt from the company to develop new levels of transparency with its disclosure of its supply chain (more about this in the Financial Times article). However, Phatgnat was more interested in Community Investment chapter of the report.
Committing 3% of its pre-tax profits (which equates to about £3.5 million), here is a 'flavour' of their community investment programmes:
- Bus Stops Here Foundation—Named for its founder, Pittsburgh Steeler Jerome 'The Bus' Bettis, it helps underprivileged young people develop self-esteem, a sense of responsibility and employability. Because they rely in part on athletics to develop these characteristics, we supply athletic footwear.
- National Head Start Association—Our $800,000 FY03 grant for their Start Line Program will provide more than 400 computers for children and families participating in Head Start programs.
- Oranje Fonds—Based in the Netherlands, this foundation is the vehicle for all of our grants in the country; they helped identify projects in which small groups of disadvantaged young people set up team-oriented, community-oriented sports projects.
- Esperanza International Foundation—This group works with impoverished youth and familiesthroughout South America.
Nike also matched $2.3 million in charitable contributions made by Nike employees, an increase of 19% over the previous year.
If you have the time (and the bandwidth), check out the EMEA: Sport for Social Change e-book.
Over the past few years a lot of criticism has been levelled at Nike (quite rightly). However, the brand has now embraced its new roles and strategies to put 'transparency' at the heart of its business—a big tick all round…
Filed by DK on April 14 2005
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