New Balance is a footwear company founded in 1906 and stands out for its focus on quality and local manufacturing known for its comfort and durability. New Balance has a great commitment to innovation and business ethics. New Balance has also demonstrated its great commitment to corporate social responsibility (CSR). The first of them is environmental sustainability and the second is to improve working conditions in its supply chain and has participated in programs and donations to support local communities and social causes. For today’s assignment, I would like to focus on environmental sustainability and working conditions.
The New Balance company has adopted 3 measures in terms of environmental sustainability, the first is Sustainable Materials, so the company is working to integrate more ecological materials for the manufacturing of products. The second measure that New Balance intends to reduce is energy efficiency, for this New Balance seeks to reduce energy consumption and gas emissions in its operations for which New Balance has implemented more efficient practices and new technologies to meet its objective the Third is waste management. , the responsibility that New Balance has with waste is very important in that they are trying to recycle and minimize waste in the manufacturing of their products. This demonstrates New Balance’s commitment to environmental sustainability, one of its 2025 goals of stopping the use and dumping of hazardous chemicals.
Now, regarding working conditions, New Balance is conducting training and development by providing training and development programs for supplier workers expanding their skills and working conditions. In addition, they are also working with NGOs that focus on the defense of labor rights and improving working conditions; these actions are part of the commitment to the new balance.
Salaries and benefits are an issue that cannot be ignored despite being a very good company, in fact, as far as I was able to investigate the minimum wage regulation only once with a supplier from China in 2021. The New Balance company produces certain products outside the country of course for reasons of logistics and costs. however, today the minimum is still given taking into account that in many countries the minimum wage does not cover the necessary expenses but currently, the company is already taking action on the matter regarding this type. of issues.
After having read and analyzed I have come to the conclusion that New Balance is very committed to achieving its objectives with respect to reducing the environmental impact of the creation of its products and also the commitment to labor rights and the improvement of the working conditions. However, I think they should streamline this process so that it is a Fair payment so that their workers can work motivated.