We will support the communities where we work to build greater resilience and more sustainable livelihoods. We will focus our social investment in support of our sustainability aims. Through these actions we aim to reach more than one million people. We will also support our workforce through quality jobs with fair conditions.
We operate in communities around the world and want to support them in developing sustainable livelihoods and building resilience. We are taking steps to become more systematic in the way we do so.
Our support for sustainable livelihoods is far-reaching and wide-ranging. It currently includes support for skills development in Trinidad and Tobago, partnerships with local communities in Egypt to provide microfinance for small businesses, an EV-readiness training programme for more than 10,000 mechanics in India, training and employability support for vulnerable people in Portugal and hospitality training for vulnerable young people in Australia. Our partners in these initiatives typically include local community organizations and NGOs.
In 2020, bp was the first major energy, mobility and convenience employer to be accredited as a Living Wage Employer in the UK by the Living Wage Foundation.
When we launched our aims in 2021, we said that we plan to set 2025 and 2030 targets for our fair wage objective. We conducted reviews across our businesses during 2022, to establish if our employees are being paid fair wages – by which we mean a wage that meets employees’ basic needs. These reviews were based on Fair Wage Network benchmark data for a typical-sized family and an average number of workers per family. They also took factors such as local market conditions into account. Our analysis showed that in 2022 all our employees worldwide were being paid a fair wage. However, we want to be systematic in our approach, and so, by 2025, we intend to put in place the governance and processes required to enable us to systematically manage our fair wage approach. For example, we will need to review pay in any companies we acquire.