Company: UAA
Filing Date: 2025-06-26
Form Type: DEF 14A
Source: 0001336917-25-000112
Chunk: 74

Company: Under Armour, Inc.
Filing Date: 2025-06-26
Form: DEF 14A
Chunk 74
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 and distribution of our products,” and “if we fail to adapt accordingly, consumer demand” will be adversely affected.

Under Armour set a 2030 science-based target to reduce absolute Scope 1, 2 and 3 emissions by 30% and committed to reach net zero emissions by 2050. Yet, the company has not disclosed a climate transition plan or policies describing how it will achieve these targets across its value chain. Meanwhile, Under Armor’s Scope 3 emissions increased 15% between 2020 and 2021. 8 Scope 3 emissions comprise 98% of Under Armour’s GHG footprint and are thus essential to reducing the climate risks outlined in its 10-K.

Industry peers Nike, New Balance, Adidas, and Puma have published detailed climate transition plans disclosing how they will achieve their GHG emissions reduction goals. 25% of companies reporting to CDP (5,906) disclosed having transition plans and an additional 36% (8,200) plan to develop one. 9 Beyond competitive risk, Under Armour faces reputational risks when its climate goals are not backed by credible plans to achieve them. 10

1 https://wmo.int/news/media-centre/wmo-confirms-2024-warmest-year-record-about-155degc-above-pre-industrial-level

2 https://wmo.int/news/media-centre/global-temperature-likely-exceed-15degc-above-pre-industrial-level-temporarily-next-5-years

3 https://www.weforum.org/agenda/2024/06/nature-climate-news-global-warming-hurricanes/

4 https://www.mckinsey.com/industries/retail/our-insights/fashion-on-climate

5 https://emf.thirdlight.com/file/24/uiwtaHvud8YIG_uiSTauTlJH74/A%20New%20Textiles%20Economy%3A%20Redesigning%20fashion%E2%80%99s%20future.pdf, 21

6 https://www.mckinsey.com/industries/retail/our-insights/sustainable-style-how-fashion-can-afford-and-accelerate-decarbonization#/

7 https://www.global.ntt/wp-content/uploads/2024/09/Net-Zero-2024.pdf

8 https://about.underarmour.com/content/dam/ua/sustainability/FINAL_FY2023_Sustainability_Metrics_Table