The recent wave of inflation has dramatically impacted vulnerable workers at risk to work and stay in poverty. The CSRD requires that eligible companies disclose whether direct workforce as well as workforce in the value chain are operating above living wage. Growing human rights regulations are also calling for due diligence and action plans wherever appropriate. This requires clarity on definition and concrete thresholds to define what living wage can be. This also requires digital tools enabling informing workers and collecting data to ensure companies and their suppliers can conduct due diligence despite the sensitiveness of the topic.
In reality, there are several problems at hand. First, defining living wage remains controversial. Secondly, most data providers in the space are unable to generate reliable, up-to-date, granular data to reflect the actual cost of living across geographies. Thirdly, including workforce in the value chain remains complex.
In the context of these challenges, this webinar engaged in a discussion addressing the following concrete aspects of solutions:
- Building approaches on one clear, credible, and consensual definition of living wage
- Exploring a key example provided by the MIT Living Wage Institute generating quality and open source data that can serve as a great basis for due diligence where deployed
- Exploring the tools developed by Ksapa working with clients to engage workforce across companies and targeted workforce in supply chains to conduct due diligence and generate reporting aligned with CSRD and ESRS requirements.
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