The impact of our work is not easy to measure. However, over the past years we and others have attempted to study the impact and relevance of our work.
In 2019, PLWF won the PRI Active Ownership Project of the Year. The PRI identified that our work has resulted in success on different levels:
- Contribution to building a new data standard of social indicators to feed back into investment decisions;
- Helping to move the needle internally for CSR/ sustainability departments;
- Push for policy changes, for instance Lojas Renner which included living wage in its policy.
In 2020, Lieke Alofs, MSc, conducted a research on the salience of the work of the PLWF on investee companies. The responsive companies stated that PLWF plays an important role in increasing the awareness of investee companies about living wage issues and the interests of relevant stakeholders in the issue. There is no evidence yet to support that the work of PLWF has directly changed purchasing practices, however, the Platform is aware that taking up such a topic takes time, and real systemic change is a long-term objective. Therefore, the platform will keep pushing investee companies to make the necessary changes for payment of living wages in the supply chains.[1]
In 2021/2022, the PLWF asked its Friends of the Platform on the perceived impact of the platform. From the questionnaire sent out, the PLWF was very pleased to note that Friends classified the impact of the PLWF as “very high” , in terms of both keeping living wage and income on the corporate agenda and pushing for change. The PLWF is seen as a collective that provides corporate stakeholders with more leverage internally to improve purchasing practices and supporting dialogue between different actors within the industry. The surveyed stakeholders felt that due to the work of PLWF, there is a growing awareness among the civil society of the potential of investors to promote or create awareness and action within corporate management decision making on topics such as living wage and income. With help from the PLWF, civil society has better access to and knowledge of the financial sector which helps design their advocacy strategies in a more effective way.
“Ultimately, living wages cannot be delivered by ESG or sourcing departments. Living wages will require innovation and leadership from C-suite executives and boards. PLWF plays an important role in ensuring that living wages are on the agendas of the people in corporations who can make them happen. And just as importantly, PLWF is helping to create a critical mass of shareholders willing to support innovation and leadership on living wages.”
~ Martin Curley, Katalyst Iniative
The PLWF continuously strives to make a positive impact on investee companies and ultimately workers, farmers and smallholders down the global value chains. We will always welcome and appreciate feedback from Friends, NGOs, companies, civil society etc. to help us achieve that.
[1] Alofs, L. (2021). Talking About a Living Wage: Enhancing Shareholder Salience for the Implementation of a Living Wage (Master Thesis). Erasmus University Rotterdam.