Crocs’ Net Zero 2030 Pledge: How Genuine Was It?
Since incorporation in 2002, Crocs, Inc. had two goals in producing its comfortable shoes: profitability and sustainability. Crocs had experienced several years of financial losses, returned to profitability, and now was ready to refocus attention on its environmental impacts. In July 2021, CEO Andrew Rees boldly made a Net Zero 2030 sustainability pledge, promising zero greenhouse gas (GHG) emissions by 2030. Several months later, Rees saw an opportunity to expand the Crocs product line and enhance sales and growth by acquiring a popular, casual Italian shoe brand, HEYDUDE. The main drawback was that while HEYDUDE touted sustainability on social media, it demonstrated no concrete commitment. The acquisition would likely complicate and delay progress towards Crocs’ sustainability goals. Rees closed the deal in December 2021. Would a delay in meeting Crocs’ Net Zero 2030 pledge be breaking a commitment? How genuine was Crocs’ commitment to sustainability?
Upon completion of this assignment, students should be able to:
1. Explain the consumer appeal of a Net Zero 2030 pledge.
2. Examine the authenticity of Crocs’ sustainability claims.
3. Evaluate the ethical implications of breaking a promise