If you've no account register here first time
User Name :
User Email :
Password :

Login Now

Nike Sets Up Green Venture Capital Arm

Nike is to set up a sustainable venture capital arm in an effort to cut costs and promote green commerce.

The sports clothing company’s Sustainable Business & Innovation Lab is to back startups focused on alternative energy and more efficient manufacturing approaches, Bloomberg Businessweek reports.

Nike has hired venture capital and private equity managers to run the lab, but has not yet revealed the project’s budget. The lab is yet to make any investments and any that are made will have to be approved by management, according to Businessweek.

In August, Nike promised to eliminate all hazardous chemicals across its entire supply chain, and the entire life-cycle of its products, by 2020, bowing to pressure from Greenpeace.

Nike’s announcement came five weeks into the pressure group’s “Detox Challenge,” which, in Greenpeace’s words, targets a “toxic free future.”

Its decision came after a similar announcement by rival Puma in July and around a fortnight before a similar commitment by Adidas.

How to Unsilo Your EHS Data
Sponsored By: Progressly

  
Just the Facts: 8 Popular Misconceptions about LEDs & Controls
Sponsored By: Digital Lumens

  
Run an Efficient EHS Audit Program - A How-to Guide
Sponsored By: Sphera Solutions

  
Financing Environmental Resiliency and a Low-Carbon Future with Green Bonds
Sponsored By: NSF International

  

Leave a Comment