The Platform Living Wage Financials (PLWF) is a collective of 12 financial institutions (as of October 2019) working together to assess and engage investee companies on living wage in their supply chain. We started out in 2018 with a focus on the garment and footwear sector. For a full list of the companies we engage, please see ‘Companies under engagement’.
The annual process of the PLWF working group on the garment and footwear sector is visualized below. In short, we review, assess, and engage companies between April and August, publish the results in September-October and hold the (follow up) engagement talks between October and December. We publish an overview of engagement outcomes in Q1 of the upcoming year. Some of the assessments receive assurance from an external party (accountancy firm Mazars).
The results of the assessments provide us with a good starting point for the agenda of our follow-up conference call or meeting with investee companies in Q3 and Q4. However, we do not approach this dialogue in a ‘mechanical’ way. In our dialogue with a company, we use the assessment results as a starting point of the conversation, but ultimately we want to listen to the company: Companies give us an update on where they currently stand with respect to living wage and what the latest developments have been. We regularly discuss trends and latest news in the field, for instance, concrete developments within a particular production country or a multi-stakeholder initiative (MSI). The main conclusions from the assessment will organically surface during the dialogue.
You can find the 2019 assessment results here.