Our commitment in 2020 is to work with venues that pay the London Living Wage.
When we first started looking at our sustainability commitments earlier this year we initially focused on things that are obvious sources of waste at events. Things like food, plastic and paper.Then we started looking at travel and carbon emissions. All of these things demand some positive changes in behaviour and our team are fully on board.
However, when we launched our Event Sustainability Development Goals last week there was one goal that created even more passion from our team. That goal was to target inequality through working with venues and partners that support the London Living Wage.
It is encouraging to see investors in London pushing companies to pay their staff fair wages appropriate to the city. This aligns clearly with our ESDG's.
Great events need great service. Any top London establishment will tell you how hard it is to recruit the best staff. Uncertainty over Brexit has narrowed the talent field. The staff who work hard to create amazing experiences in London's hotels and restaurants deserve to be fairly paid.
The pressure to move to a London Living Wage has to come from all sides - from governments, businesses and consumers. How positive to see this pressure coming from the Investor community.
They argue that paying a fair wage boosts productivity, reduces staff turnover, improves employee relations and reduces the risk of negative reputational or operational damage caused by industrial action. “The case is clear,” says Pauline Lecoursonnois of Hermes Investment Management. “A workforce that is fairly paid, well valued and respected will perform better than one that isn’t and therefore we are asking UK companies to consider paying the Living Wage as a key indicator of a responsible and sustainable business.” The targeted companies depend on working contracts that do not include a Living Wage provision. They therefore run the risk of damaging their long-term sustainability, the investors believe.