Schroders: Why we are against Sainsbury's being forced to become Living Wage-accredited

AGM on 7 July

clock • 4 min read
Kimberley Lewis, head of active ownership at Schroders
Image:

Kimberley Lewis, head of active ownership at Schroders

It is decades since a newly-formed band of campaigners marched down Mile End Road in London’s East End. They were calling for all staff working in local hospitals to be paid a “living wage”. The concept was established. Those hospitals signed up, as did local schools and even some early adopters in the City.

Many other employers followed yet 21 years on 4.3 million people still earn less than the living wage. The issue is running red hot amid the growing cost of living crisis and is reaching a crescendo during the AGM season of Britain's biggest companies. The asset management industry has a critical role, not only in its constant engagement with company management but also in casting carefully considered votes on resolutions from pressure groups and others. For our part, we are Living Wage accredited and a member of the Good Work Coalition, which was launched by ShareAction. But as an...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Investors pulled £2.7bn from equity strategies
ESG

Flows into sustainable strategies slow as equities continue to suffer

Follows 62% drop in Q2

clock 17 August 2022 • 2 min read
Demand for key inputs will rise sharply, as nations look to accelerate their renewables programmes.
ESG

Greenflation: What are the drivers and how long will it last?

Metal price rises 'structural'

clock 12 August 2022 • 3 min read
Invests in companies with strong biodiversity credentials.
ESG

HSBC launches biodiversity screened ETF

SFDR Article 8

clock 11 August 2022 • 1 min read
Trustpilot