Platform Living Wage Financials wins PRI Active Ownership Project of the Year Award
Platform Living Wage Financials (PLWF), established in the Netherlands, has won the international PRI-award (Principles for Responsible Investments) for best initiative in the field of socially responsible investing and active ownership. The award has been presented during the PRI in Person 2019 event in Paris.
In sectors that employ and rely on masses of manual labor, such as the garment and footwear, food and beverage, consumer electronics or retail sectors, wages are often insufficient to cover workers’ basic living expenses such as food, clothing, housing, health care, and education. Research shows these wages are often on the poverty line and well-below living wage estimates.
Under the umbrella of the PLWF, financial institutions come together to encourage, support, assess, and monitor investee companies with regard to their commitment to pay a living wage to the workers in their supply chains.
Jack Julicher, CEO a.s.r. asset management: ‘As a partner of the PLWF platform, that makes efforts worldwide to promote ‘Living Wages’, a.s.r. asset management is proud that this initiative has received the Active Ownership Project of the Year award. A living wage is a universal human right. It is important that we continue to work together towards improving a living income for employees and farmers in different industries and supply chains. This award means a lot to us #PRIinPerson.’
Platform Living Wage Financials
The Platform Living Wage Financials (PLWF) is an unprecedented alliance of 11 financial institutions that encourages and monitors investee companies to address the non-payment of living wage in global supply chains of the garment industry. As an investor coalition with over €2,3 trillion of Assets Under Management, we use our influence and leverage to engage with our investee companies.
Read more: livingwage.nl
Read more: unpri.org
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