Business cannot thrive in societies held back by poverty and inequality. Today, over 700 million people are unable to afford the basics of a decent life: food, water, housing, healthcare, and education. Inequality erodes trust in political and economic systems, exacerbates the impacts of climate change, and undermines economic growth.
As a Commissioner of the Business Commission to Tackle Inequality (BCTI), led by the World Business Council for Sustainable Development (WBCSD), I have witnessed firsthand the value of breaking silos and building shared agendas. From the outset, our mission was clear: make tackling inequality a Boardroom and Executive priority. Guided by a distinguished group of fellow Commissioners from across business, intergovernmental organisations, civil society, and academia, the BCTI has worked to mobilise the private sector to create a more inclusive and prosperous society. Our journey has been marked by some significant achievements.
In 2023, we published “Tackling Inequality: An Agenda for Business Action”, a landmark report thatunited the global business community around a shared agenda for social sustainability. The report outlined why inequality is a systemic and business risk and why tackling it is a business priority. It sets out a holistic agenda to guide private sector action and highlighted ten key actions companies can take – from respecting human rights to advancing living wages and enabling a just transition, providing a roadmap for how businesses can drive more sustainable growth.
By 2024, we shifted our focus from agenda-setting to driving action. The BCTI catalysed business leadership across five priority areas: Human Rights, Just Transition, Diversity, Equity & Inclusion, Social Performance & Accountability, and Living Wages & Incomes. Through dedicated working groups and peer learning sessions, we provided trusted spaces to advance individual and collective goals on each of these agendas and cemented the foundations for a long-term, programmatic approach to social sustainability within WBCSD.
One of the most powerful areas of impact has been living wages. As co-chairs of the Living Wage & Incomes Working Group, Unilever has helped unlock major advocacy milestones. For the first time, the International Labour Organization (ILO) issued a globally aligned definition of living wage, creating a foundation for governments to assess the adequacy of minimum wages. India has already committed to adopt a national living wage by 2025 – demonstrating how quickly global alignment can drive change.
We’re also actively advocating for the inclusion of living wages in the political declaration of the upcoming UN World Social Summit. This summit marks the first time in 30 years that governments will come together to define priorities for advancing social development. It’s a critical opportunity to ensure that living wage is recognised as a cornerstone of inclusive economic growth.
At Unilever, we’ve long believed that paying a living wage is not just the right thing to do – it’s a business imperative. Since 2020, we’ve paid all our employees a living wage. But we know that real impact comes from extending this commitment across our value chain. In 2024, 32% of our procurement spend was with suppliers who have signed our Living Wage Promise and all our dedicated collaborative manufacturers now have a contractual requirement to pay their workers a living wage.
Yet we also recognise that we cannot do this alone.
The vast majority of our suppliers are non-dedicated, serving multiple customers and operating in competitive markets. Without industry-wide movement and supportive government policies, companies that lead on living wage risk being placed at a competitive disadvantage. That’s why initiatives like BCTI are so vital. They create the enabling environment for change, bringing together businesses, policymakers and civil society to align on standards, share best practices, and advocate for systemic reform.
As we look to the future, WBCSD – together with its members and partners – will deepen its engagement with C-suite and Board leaders. A small group of Executive Champions, drawn from across key leadership functions, will mobilise senior decision-makers across the global network to embed equity into strategic decision-making. This will be reinforced by ongoing capability building and peer learning for members and suppliers across all five priority areas of the BCTI Flagship Report. These efforts aim to ensure the social agenda is fully integrated with climate and nature strategies – strengthening resilience, trust, and long-term business value.
Reflecting on the BCTI’s journey, there is much to be proud of: elevating equity as a business priority, shaping global standards, and contributing to meaningful policy shifts. But much remains to be done. Business cannot thrive in societies held back by inequality – and with BCTI, we have built the momentum and partnerships needed to help shape a future where everyone can thrive.