ESG & Investing
Schroders in Crosshairs as Investment Clients Balk at ESG Stance
- Clients rebuke fund manager for opposing worker pay increases
- Schroders ejected from investor group on income inequality
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A shareholder vote over worker pay at one of the UK’s best-known supermarket chains is testing a major fund manager’s vaunted ESG credentials.
Schroders Plc, which manages £753 billion ($901 billion) of assets and describes its investing approach as being “beyond profit,” plans to vote against a resolution calling on Britain’s second-largest grocer, J Sainsbury Plc, to pay all its employees a “living wage.” A top-five shareholder in the grocery chain, Schroders argues that the cost of doing so would hurt Sainsbury’s ability to compete.