Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • March 2019
03

Lack of transparent workforce data available to investors

Open-access content Wednesday 27th March 2019 — updated 5.50pm, Wednesday 29th April 2020

Global businesses have failed to provide detailed and transparent workforce data in response to a request from more than 120 investors managing over $13trn (£11trn) in assets.

2


Legal and General, AXA IM and Amundi were among the investors to call for more transparent data last year in order to help identify hidden human rights risks. 

And although 90 global companies responded to the annual Workforce Disclosure Initiative (WDI), less than a quarter said they monitor wages for their supply chain workers.

Half provided no detail on who is involved in the workforce risk management process, how frequently it is carried out, or what areas of the business are covered.

AXA IM head of responsible investment, Matt Christensen, said: "The data are used to provide in-depth information to our social performance and impact assessment.

"It constitutes our engagement with companies around social considerations and helps us make processes evolve in the right direction at operational and supply-chain levels."

The WDI quizzes companies on topics such as diversity, wages and health and safety in order to improve the quality of jobs in listed companies' operations and supply chains.

Despite many being unable to provide detailed data, the number of disclosing companies more than doubled from last year, and included 21 of the world's largest firms.

Adidas, Microsoft and Toyota were among the 90 companies to respond, which together employ over 8.3 million people and have relationships with more than 1.5 million suppliers.

However, well-known names like Apple and BP declined to participate, citing confidence in their existing public reporting.

ShareAction, which coordinates the WDI, said the lack of detail on how companies manage and protect low paid and supply chain workers warrants further investigation.

"Not least because the reporting process provides insights that benefit corporate governance, and because calls for better data and action to deliver decent jobs are only getting louder," head of programmes, Amy Metcalfe, said.

"But the leadership shown by 90 companies across 11 sectors demonstrates that these challenges can and should be overcome." 


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession


This article appeared in our March 2019 issue of The Actuary.
Click here to view this issue
Filed in
03

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Pensions Actuarial Analyst

London, Midlands, Scotland
£Market Competitive
Reference
143788

Senior Manager/Director level roles - Life insurance

Stirling
Generous salary with excellent bonus and benefits
Reference
143787

Reinsurance Pricing Actuary

London (Central)
£60-90K depending on experience
Reference
143786
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ