Collaboration between IDH and UNGC on living wages

As the world crosses the halfway point for achieving the Sustainable Development Goals (SDGs) by 2030, the recently launched Forward Faster initiative of the United Nations Global Compact (UNGC) will challenge businesses to raise their ambition levels by taking tangible, accountable actions in five areas. IDH and the UNGC are collaborating on living wages; to support companies close living wage gaps.

Over a billion working people worldwide are estimated to earn less than they need to afford a decent standard of living. Products we buy, often on a daily basis, don’t cover a living wage. At IDH, one of our goals is to achieve strong, resilient businesses that fuel prosperity for millions of employed people.

Together with our partners, IDH is working to secure living wages for workers globally through the Roadmap on Living Wages. The partnership with the UNGC in this journey is crucial to make positive change.

The UNGC Forward Faster initiative calls on business leaders everywhere to take measurable, credible and ambitious action. On Living wage specifically, companies can commit to (1) 100% of employees across the organisation earning a living wage by 2030; (2) establish a joint action plan(s) with contractors, supply chain partners and other stakeholders to work towards achieving living wages and/or living incomes with measurable and time-bound milestones. Improving the lives of the most vulnerable among us — including those living in poverty — is an overarching theme across all of the SDGs. Working poverty is a reality worldwide. All workers should receive a wage that ensures them a decent standard of living.

IDH is one of the supporters of the UNGC Forward Faster initiative, focusing on living wage. Our living wage Roadmap, consistent of 5 steps from measuring to action, is listed and available for companies as resource to inform implementation strategies.