Nike has announced a series of targets that include climate neutrality and sustainable product design and innovation.

The company released its third corporate responsibility report last week, highlighting environmental goals such as making all facilities, retailers and business travel climate-neutral by 2011; reducing waste from the more than 225 million pairs of shoes it manufactures yearly; and eliminating excessive overtime in its contract factories.

The Beaverton, Ore.-based company also announced its continued support to community-based youth initiatives, pledging a minimum of $315 million through 2011.