A coalition of 29 asset owners, institutional investors and stewardship service providers has written to the chief executives of 100 of the UK’s largest listed companies, urging them to take “immediate and concerted” steps to implement effective management systems and processes on workplace mental health.
The coalition – with $7trn in assets – has been convened by CCLA Investment Management and comprises the founding signatories to the CCLA-led Global Investor Statement on Workplace Mental Health. Coalition members include Brunel Pension Partnership, Railpen, Nomura Asset Management and Federated Hermes.
All of the 100 companies contacted were included in an analysis conducted by CCLA in May 2022 as part of the launch of its Corporate Mental Health Benchmark – UK 100.
The companies have been urged to: acknowledge workplace mental health as an important issue; signal board and senior management commitment to promoting mental health in the workplace; publish a commitment to workplace mental health in a policy statement or equivalent; set objectives and targets; and report annually on progress.
Amy Browne, stewardship lead at CCLA, said: “Creating a workplace that does no harm to the mental or physical health of workers is not only a moral necessity but also a financial imperative.”
She pointed to research from Deloitte suggesting that employers saw an average return of £5.30 for every £1 invested in mental health.
“Our research shows that while mental health initiatives are plentiful, there is a clear lack of commitment by many senior leaders and that strategic planning on mental health is rare. We are certain that giving workplace mental health the attention it deserves offers benefits for individuals and firms, and, by extension for the wider economy and society,” Browne added.
The sister benchmark to the UK 100, the Global 100, is expected to launch in October 2022.
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