Following similar steps recently taken by key suppliers such as Nike, Adidas, Puma and Under Armour, Foot Locker has released its Impact Report, which describes the company’s environmental, social and governance efforts. The report covers the company’s global operations for the fiscal years 2019 and 2020, from Feb. 3, 2019 to Jan. 30, 2021, and covers the company’s Corporate Social Responsibility (CSR) program through its four pillars: (1) leveraging the power of its people and communities, (2) managing and reducing its environmental impacts, (3) strengthening the sustainability of its supply chain, and (4) operating ethically and transparently.
Among the accomplishments in priority areas during the two-year period was the formation of a global cross-functional CSR team to manage risks, emerging trends and opportunities. Furthermore, the company participated in the Carbon Disclosure Project (CDP) platform, including a first response in 2019 and a second one in 2020, which included its global emissions profile for the first time.
In the 2020 fiscal year, the company conducted an internal assessment to identify the highest-priority issues for the company itself and its key stakeholders in the environmental, social and governance (ESG) areas, and developed an ESG issue prioritization matrix, which is presented in the report. The resulting “Top priority ESG issues” in the matrix include: operating ethically and transparently; human capital management; worker dignity in the supply chain; empowering people and communities; supplier sustainability and engagement; energy conservation and climate stewardship; sustainable materials sourcing; and product packaging impact management.
Also in fiscal 2020, the company committed to invest $200 million over five years to support its Black workforce and communities through its Leading in Education and Economic Development (LEED) initiative. Out of the total budget, $175 million will be spent through 2025 on using Black-owned suppliers, brands, IT and digital marketing firms, venture capital funds and businesses involved in youth culture. The balance will go to finance Black student scholarships, educational creative activities, consumer outreach programs and internships.
According to Foot Locker, minorities represented 85 percent of its 40,639 employees in North America by the end of last year, 20 percent of executive positions and 30 percent of independent board directors.
An internal survey on diversity, inclusion and belonging showed that 88 percent of its staff responded favorably to the company’s strategic commitment to these goals.
Foot Locker, Inc.’s Fiscal Years 2019-20 Impact Report is available for download.