Commercial, Energy Efficiency, GHG Emissions - March 13, 2019
Under Armour agrees to develop sustainability plan
Under Armour announced March 12 new energy efficiency and renewable energy goals in response to questions raised by investors in a New York pension fund.
The Baltimore-based athletic apparel maker released its sustainability report with these proposals after rival Nike announced its goal to reach 100% renewable energy, the Baltimore Sun reported. Under Armour plans for its climate change policy, mitigation strategies and feasibility of adopting company-wide energy efficiency goals will be addressed in its trustee update next year.
The pension fund addressed Under Armour's previous lack of specific renewable energy or energy efficiency plans in a proposed shareholder resolution.
"As such, Under Armour lags behind its many peers in the fashion and apparel industry who have already committed to 100% renewable energy," the resolution stated, according to the Baltimore Sun.
In response to these questions from investors, the company agreed to give a status update on its efficiency strategy to the fund's trustee within a year.
The newspaper also reported that Under Armour has implemented sustainability efforts in their clothing production process, including using a brand of fiber from recycled plastic bottles and using virtual, three-dimensional images rendered via computers for product samples.
The brand has a goal of increasing the use of recycled polyester for certain products by 15% by 2020.
"Under Armour aims for a strategic climate change approach that addresses our material impact and meets external stakeholder expectations," Michael Levine, Under Armour’s vice president of sustainability, wrote in a Feb. 20 letter to the New York comptroller’s office.
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