LGPS Central Limited has joined hundreds of institutional investors around the globe by urging businesses to protect stakeholder welfare during the coronavirus outbreak.
The Company has signed an investor statement which highlights a number of steps firms should consider during the pandemic, such as providing paid leave to their staff, prioritizing health and safety, maintaining employment and maintaining supplier relationships.
Mike Weston, CEO at LGPS Central Limited, said: “We’re living in exceptional times and while many firms are facing unprecedented levels of uncertainty, the welfare of their stakeholders are inextricably linked to their long-term existence. Millions will face extreme hardships due to the impact of coronavirus and we urge businesses to do everything they can to protect the wellbeing of those who make their companies so successful. Caring for our society is an integral part of what makes us a responsible investor and we urge the firms we invest in to do the same.”
Other signatories include the Unison Staff Pension Scheme, the Church of England Pensions Board and Local Authority Pension Fund Forum.
The group is made up of over 300 long-term institutional investors, who represent more than $8trn in assets under management.
The initiative is being led by Domini Impact Investments, the Interfaith Center for Corporate Responsibility and the Office of the New York City Comptroller.
To read the full statement, please click here.