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

AGM on 7 July

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...