Boston, May 23, 2025 – 5.7% of shareholder votes were cast in favor of a shareholder proposal asking Foot Locker* to set climate emissions reduction targets at the company’s annual meeting on Wednesday. Green Century° and As You Sow filed the proposal.
“Without climate targets, investors are in the dark about Foot Locker’s plans to mitigate climate risk,” said Leslie Samuelrich, president of Green Century Funds. “Setting a goal to cut planet-warming emissions shows that Foot Locker is working to reduce its climate impact, not just measure it.”
In 2022, Foot Locker committed to setting climate emissions reduction targets and a net-zero goal in response to an As You Sow shareholder proposal. The company quietly retracted its commitment this year in its impact report and has not shared plans to adopt new climate targets.
Climate change threatens footwear and apparel companies
Footwear and apparel companies are expected to experience significant impacts as climate change intensifies. Asia is the “garment factory of the world,” according to the International Labor Organization, as well as the world’s most disaster-prone region. Climate disasters could threaten $65 billion worth of apparel exports from countries critical to footwear and apparel production by 2030.
Foot Locker’s disclosures warn that climate-related hazards could disrupt production and delivery. The vast majority of Foot Locker’s suppliers for its brand-named products, totaling 90 percent, are sourced from climate-vulnerable countries in Asia.
Foot Locker out of step with industry
Six hundred and forty footwear and apparel retailers, such as Nike*, Decathalon and JD Sports, have set or committed to setting science-based targets to reduce their climate emissions and associated risks. Nearly 130 apparel companies have signed on to the United Nation’s Fashion Industry Charter for Climate Action, which requires adopting science-based targets and collaborating on plans to reach them.
“Foot Locker’s prior pledge recognized the role it can play in avoiding the worst impacts of climate change on its business and the Earth,” said Danielle Fugere, president and chief counsel of As You Sow. “Recommitting to greenhouse gas reduction targets would allow Foot Locker to address the growing impacts of climate change and better compete with its peers.”
“As climate emissions increase, so does economic risk, ” said Giovanna Eichner, shareholder advocate at Green Century. “Investors want Foot Locker to lace up its shoes and catch up to the industry in reducing its carbon footprint.”
Green Century Capital Management Inc. is a leader in the environmentally responsible investing field. Green Century provides mutual funds for individuals and institutions to keep their money out of the most environmentally harmful industries. Green Century’s three-part approach combines fossil fuel free investing with award-winning shareholder advocacy and support of its public health and environmental nonprofit owners.
As You Sow is the nation’s leading shareholder representative, with a 30-year track record promoting environmental and social corporate responsibility and advancing values-aligned investing. Its issue areas include climate change, ocean plastics, pesticides, racial justice, workplace diversity, and executive compensation.
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About Green Century Funds
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. Green Century hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of 3.28.2025, Foot Locker comprised 0.00%, 0.01%, 0.00% and Nike comprised 0.00%, 0.33%, 0.00% of Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Green Century Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
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