A coalition comprised of 15 significant investors managing around £2.4 trillion pounds intend to use the 2023 shareholder meeting season to urge some of the UK’s biggest businesses to protect the lowest-paid workers on their staff amidst the current cost-of-living crisis.
UK investors with interests in ESG (Environmental, Social, Governance) assets often seek guidance from specialists in portfolio management in Chester, Manchester and other financial hubs. Experts like wealth managers construct portfolios that include assets which match their personal ethics, while remaining diverse and balanced in terms of risk and return.
The responsible investment group known as ShareAction, which brought the coalition together, stated that major investors have now signed a statement that urges UK enterprises to ensure that the lowest-paid workers are sufficiently targeted in terms of pay awards that answer the rate of inflation currently experienced by Britons.
In February, British inflation increased to 10.4%. The lowest paid in the UK are disproportionately affected by the rising cost of living and now the coalition wants firms to commit fully to paying a real living wage to every employee across all supply chains, on a long-term basis. This includes any third-party contracted staff. It is also insisting that businesses provide guaranteed working hours and accurate and fair contracts.
The real Living Wage was originally established by the charity Living Wage Foundation and then independently calculated by the think tank Resolution Foundation, helping to work out how much employees and their families require to live.
