Nordstrom Commits to Report on Human Rights Risks in its Supply Chain
March 28, 2016: Trillium Asset Management (Trillium) is pleased to announce the successful withdrawal of our shareholder proposal at Nordstrom, Inc. (NYSE: JWN), based on the company’s commitment to report, by the end of the second quarter, on the actions it has taken to identify and curtail human rights risks in its supply chain.
Trillium first filed this proposal when Nordstrom reported that it sourced nearly half of its private-label product volume from factories that were at-risk of human rights violations. This was deeply concerning to Trillium and we engaged with Nordstrom to see how the company was working to remediate this situation.
Fortunately, Nordstrom has made significant changes to its supply chain programs that have already reduced incidence of human rights risks, resulting in improved conditions for factory workers.
“Nordstrom is committed to transparency in reporting on all of our social responsibility efforts, which includes sharing progress and opportunities for improvement,” said Angela Webb, Vice President of Nordstrom Product Group Supply Chain and Operations. “As it relates to human rights, in our 2016 report, we will share more detail around our efforts to support the workers in factories that produce our private label products, including how we work with factories, our standards and other information that better outlays our comprehensive approach.”
This enhanced reporting will allow stakeholders to better assess the effectiveness of Nordstrom’s supply chain initiatives and encourage the company to continue to improve its human rights performance.
We commend Nordstrom for engaging in productive dialogues with investors on these important issues.
For more information: Randy Rice, Trillium Asset Management, firstname.lastname@example.org, 617-515-6889
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.