VBDO officially participates in Platform Living Wage Financials

Everyone deserves a wage level necessary to afford a decent standard of living for themselves and their families. That’s what a living wage means. Living wages are often higher than a government’s minimum wage. However, a minimum wage does not guarantee a sustainable life. Increasing living wage can have a huge impact on local and national societies: lifting people out of poverty doesn’t only imply raised living and health standards for employees, research shows it also grows consumer markets.

In 2019, Platform Living Wage Financials won the Principles for Responsible Investment, Active Ownership Project of the Year. The platform strives to positively impact investee companies and ultimately workers, farmers and smallholders down the global value chains. Its main focus is on the food sector (retail and agriculture) as well as the garment and footwear sector.

Now, VBDO has joined more than 20 financial institutions, combining our efforts and making living wage standard practice. Angélique Laskewitz, director of VBDO: ‘ Living Wage is a theme our association has been working on since 2016, for example by drawing attention to it during AGMs. We believe we can further the platform’s mission by adding to it with our extensive knowledge, experience and network.’

Photo credits: Steve Mushero (Unsplash)