Capital concerns

Think tank: Social Market Foundation

Author(s): Richard Hyde; Jake Shepherd

January 23, 2022

This report from UK think tank the Social Market Foundation looks at poverty in London and the role of business in helping tackle it.

This report calls attention to the scale of in-work poverty in the UK and London today, what drives it, and the impact it has. It is a part of a wider project – created in partnership with Trust for London – to develop a new benchmark that helps businesses tackle in-work poverty. Pretty much everyone in business these days is talking about the Environmental, Social and Governance (ESG) agenda. However, the S (Social) needs to be better-defined, and to include poverty – whether that’s among staff, community, or the supply chain. Although London-based businesses are keen to tackle poverty (84% say that “in-work poverty (among their own workers) should be a concern to London businesses”), they need practical ways to do so – a new metric is needed. We encourage those who are interested in this issue to contact us via [email protected] to be part of this conversation