CCLA Investment Management is planning to launch the second iteration of its UK mental health benchmark on 5 June this year.
The CCLA Corporate Mental Health Benchmark- UK 100 launched in May last year and aims to track and evaluate the UK’s largest listed companies’ approaches to workplace mental health. It was followed in October by the CCLA Corporate Mental Health Benchmark – Global 100.
“The benchmarks aim to serve as an important engagement tool and accountability mechanism for responsible investors, and to help companies create the conditions under which employees can thrive,” said Amy Browne (pictured), stewardship lead at CCLA.
In 2022 CCLA found only 19% of global company CEOs had publicly signalled their leadership commitment on employee mental health, and just 15% of companies had published objectives or targets for mental health. Less than a third of companies (28%) had published a formal policy that expressly recognises the link between financial wellbeing and mental health.
“Since the launches, we have learned of 15 companies, employing more than 2.8 million people have used our recommendations to improve mental health practice and disclosure,” Browne said.
“These include Amazon, BHP Group, HSBC, PepsiCo, and Vodafone, among others. Many more companies have stated an intention to use the recommendations from the benchmarking process to improve.”
For example, HSBC has published a new mental health policy that applies to more than 220,000 employees across 64 markets.
CCLA is now planning its second roll out, as well as the expansion of signatories to its Global Investor Statement for Workplace Mental Health.