Investors Challenge UK Companies on Cost of Living

Charity investment manager CCLA and the Church Investors Group (CIG) have asked 100 of the largest publicly listed employers in the UK to disclose actions to support their lowest paid employees through the cost-of-living crisis. The targeted companies have a combined market capitalisation of £1.7 trillion and employ around five million people, not including contractors, such as cleaners and security services. Recent research from the Living Wage Foundation found that 56% of low paid workers in the UK had relied in food banks over the last 12 months. The letter from investors asks firms about the proportion of their workforce impacted by any company initiatives and whether third-party contracted staff are eligible for the assistance. CCLA and CIG said they view growing inequality as a systemic risk and will not vote in support of executive pay rises next year if businesses have not taken steps to shield their lowest paid workers from the impacts of the rising cost of living.

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