Providing guidance to investee companies in order to drive sector-wide changes is an integral part of the PLWF’s meaningful engagement approach. By education ourselves on the topic of living wage and living income and conducting our annual company reviews, the members are geared with the right tools to do so. In addition, engaging multiple companies from three focus sectors allows us to stimulate intra-sectoral and intersectoral learning by sharing good practices.
The PLWF is proud to share an updated version of its Good Practice Guidance for the garment and footwear sector companies. Our first guidance document was published in 2018, with the intend to be used as a functional tool to support the quality and effectiveness of our engagement, as well as for companies to refer to this document when surveying and assessing the practices of their industry peers. However, as companies’ performance and reporting develops and matures, ASN Bank and MN worked on an update.
The new guidance can be found here. It follows the structure of the PLWF assessment methodology and the OECD due diligence framework, sets out our expectations, and is – above all – meant to share learnings and inspire.