#Sustainability
VF Corporation named one of America’s most JUST companies by Forbes and JUST capital
The Forbes JUST 100 recognizes companies doing right by all their stakeholders – workers, customers, communities, the environment, and shareholders – as defined by the American public
Through vigorous, objective analysis, the Forbes JUST 100 evaluates and celebrates U.S. corporations that outperform on the issues that matter most to the American public – like paying a fair wage, upholding human rights across the supply chain, investing in worker training, acting ethically and with integrity, cultivating a diverse and inclusive workplace, protecting worker health and safety, providing good benefits and work-life balance, and more. By striving to meet the needs of all stakeholders, JUST 100 leaders demonstrate that profits and purpose go hand in hand.
“Across VF and our portfolio of brands, we work every day to leverage our business in ways that have a positive impact on people and the planet,” said Steve Rendle, VF’s Chairman, President and CEO. “It’s an honor to be recognized as one of America’s Most Just Companies by Forbes and Just Capital. This recognition confirms our belief that purpose and profit are mutually reinforcing forces that enable environmental and socially responsible business success for the benefit of shareholders and stakeholders alike.”
The annual Rankings evaluate the 1,000 largest public U.S. companies across 19 issues, identified through the most comprehensive surveys ever conducted on public attitudes toward responsible corporate behavior, engaging 4,469 American respondents in 2020 and over 110,000 total participants over the past seven years.
JUST Capital expanded this year’s methodology to capture 38 COVID-19 specific data points from their COVID-19 Corporate Response Tracker. The new analysis includes hourly wages increases, paid sick leave, and healthcare benefits for furloughed employees (Workers); payment deferrals, price cuts, and services for vulnerable groups (Customers); cash or in-kind donations to support community relief (Communities); and CEO, or executive, pay cuts (Shareholders).
“Now more than ever, business leaders have the chance to spark lasting systemic change within their companies and across society,” said Forbes Senior Editor Steven Bertoni. “The companies in this year’s JUST 100 show that we can face the twin tragedies of the COVID-19 pandemic and racial inequality and continue to improve our actions and refocus our missions to do better, and be better, for all stakeholders.”
Compared to their Russell 1000 peers, companies in the JUST 100 on average:
- Pay their median workers 18% more.
- Are 4.3 times more likely to have conducted a gender or race/ethnicity pay equity analysis.
- Are 5.6 times more likely to have set diversity and inclusion targets for their workforces.
- Are 12 times more likely to disclose they have conducted a human rights audit within their supply chain.
- Gave 6 times more to charitable causes as a percentage of their pretax profit.
- Were 140% more likely to have offered price cuts to customers during the pandemic.
- Were 92% more likely to have shifted to or prioritized the production of products to support the fight against the pandemic.
- Use 123% more green energy.
- Emit 86% fewer tons of PM 2.5 emissions into the atmosphere.
- Had 56% higher total shareholder return over the past five years.
- Had a 7.2% higher return on equity.
“In the face of a global pandemic, economic recession, and national reckoning with racial injustice, the American public is demanding more from our corporate leaders than ever before,” said Martin Whittaker, CEO of JUST Capital. “The companies featured in the 2021 JUST 100 list have stepped up in service of their workers, customers, and communities this year while delivering long-term value to shareholders.”
Both the Forbes JUST 100 and the Industry Leader list will be featured in the November issue of Forbes, with additional stories at www.forbes.com/just100 and a comprehensive interactive ranking and benchmarking platform at www.justcapital.com.
