Adidas drops suppliers, meaningful brands profit, Bank of America launches low carbon strategy and Apple tops green index
Adidas cuts ties with non-compliant suppliers
Adidas has cut business ties with 13 of its Asian suppliers following non-compliance with the company's workplace standards at factories, covering labour-related or health and safety non-compliance, among others. As stated in the German sportswear maker’s 2014 sustainability report, despite working closely with suppliers to improve performance and compliance, in cases where non-compliance was severe or repeated, Adidas has termi-nated business agreements.
In addition to cancelling agreements with the suppliers in Asia where 60% of Adidas supplier factories are located, the company also issued 65 warning letters to suppliers in 13 countries about ongoing non-compliance issues.
The warnings targeted problems surrounding poor management commitment, excessive working hours, the non-payment of wages and benefits, poor electrical, fire or chemical safety, as well as poor communication and transparency issues.
‘Meaningful Brands’ enjoy 46% higher ‘wallet’ share
The “Meaningful Brands” study, Havas Media Group’s index that measures the potential business benefits gained by a brand when it is seen to improve consumer wellbeing and quality of life, has revealed that top ranking companies on average enjoy a 46% higher share of wallet – a marketing metric used to measure the percentage spent with a brand versus the...