LONDON – More than half of brands and retailers do not link executive pay with sustainability performance, according to a new report from the Planet Tracker financial think tank.
It analysed 30 brands and found that 17, including Anta Sports, Gap, Levi’s, Nordstrom, Under Armour and Victoria’s Secret, lacked any link between sustainability practices and executive pay.
And, while 70% of S&P 500 companies now factored sustainability metrics into executive pay, only 7% of fashion companies had a link that incorporated clear annual objectives and reporting on environmental, social and governance (ESG) performance.
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