Sportswear giant JD Sports is facing a call at its AGM today to follow up improved transparency on pay with further action towards the ‘real’ living wage.
Investors including BNP Paribas Asset Management, Strathclyde Pension Fund and KLP Asset Management, who between them manage assets of $3.1trn (£2.3trn), have signed a statement to JD Sports’ board, which will be read out at today’s shareholder meeting.
In it, they welcome improved transparency on pay from JD following a resolution at last year’s AGM. It reads: “While the company has not disclosed all of the data points requested in the special resolution, we recognise that the company has taken meaningful steps forward in enabling better assessment of the aforementioned issues.
“In this context, investors would welcome further insight into how these enhanced disclosures are informing the company’s approach to pay and workforce practices, urge the company to disclose all remaining datapoints, and look forward to continuing this constructive dialogue through engagement with the Good Work Coalition.”
ShareAction senior campaign and research officer Ruan Opie-Meres said: “Following last year’s shareholder vote, JD Sports has made progress on workforce transparency, but reporting alone won’t ease the pressure facing the company’s workers on low pay.
“Investors want to see that these disclosures are driving real improvements for the workforce, including a credible path towards a real living wage.
“At a time when working people are struggling to make ends meet, a business that fails to invest in their biggest asset risks struggling to attract and keep staff, damaging morale and ultimately undermining long-term performance.”
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