Nike, Crystal Group make Fortune's 'Change The World' 2016 list
Sportswear giant Nike and apparel designer and manufacturer Crystal Group have made Fortune magazine's official 'Change The World' for 2016, the only apparel brands to feature in the top fifty ranking for their sustainability efforts.
Each year, Fortune sets out to identify fifty companies across the globe that are tackling major societal problems. According to Fortune, this look like "reducing damage to the environment, strengthening communities, serving the underserved, and significantly improving lives as a function of their business model." And, it's without taking away any contributions to a firm's bottom line.
American sports brand Nike made the top ten list for 2016, ranking 6th for its steady sustainability efforts set in motion since 1990. In a recent report, Nike revealed that 71% of footwear and apparel uses “Nike Grind", a home-developed material made up of recycled polyester and other materials. Grind has also been used in more than 1 billion square feet of sports surfaces, replacing virgin rubber. Meanwhile, Nike engineers have reduced waste by about 60% on average for every Flyknit shoe made, compared to what is used for traditional shoes, saving nearly 2 million pounds of fabric-scrap waste since 2012. Moving forward, the sports firm has set new 2020 targets such as sourcing 100% of cotton more sustainably and reducing landfill waste.
Crystal Group came in at number 17 on the list, close behind Walmart at 15th position and Coca-Cola 11th. The Hong Kong-based firm commenced sustainability practices in 2007, when it started actively implementing various environmental and employee care programs.
Other efforts include the reduction of carbon emission and energy use across all production facilities. It also focuses on the empowerment of female workers by providing training that helps enhance their work and life conditions.
“Every Crystal member is happy and proud that the company’s sustainability commitment has been recognised by an international initiative. This valuable recognition is the achievement of all Crystal members," said Kenneth Lo, chairman of Crystal Group, in a statement.
Here's the official "Change The World" top ten company list:
- GlaxoSmithKline (Pharmaceuticals)
- IDE Technologies (Industrial Machinery)
- General Electric (Industrial Machinery)
- Gilead Sciences (Pharmaceuticals)
- Nestlé (Food Consumer Products)
- Nike (Apparel)
- Mastercard (Financial Data Services)
- United Technologies (Aerospace & Defense)
- Novozymes (Specialty Chemicals)
- First Solar (Energy)
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