LONDON – Responsible investment charity ShareAction (SA) says the COVID-19 crisis could trigger significant growth of insecure work practices in sectors such as textiles and apparel and is calling for investors and companies to ‘deeply consider’ how low-paid employees, zero hour and tiny-hour contract staff are treated in the aftermath of the pandemic.
At last week’s relaunch of SA’s Good Work Investor Coalition (formerly known as the Living Wage Coalition), which is an alliance of 30 major investors (with £2.4 trillion assets under management) and includes organisations such as BMO Asset Management and St James’s Place Wealth Management, spokesperson Martin Buttle, called for investors to demonstrate good stewardship and cited the recent collapse of fast fashion brand Boohoo’s share price as a prime example of the reputational risk that comes with perceived poor treatment and insecure work practices.
Boohoo previously rated the top 15 per cent among its peers for ESG (environmental, social and governance factors) investment metrics.
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