Big investors call on UK Plc to improve mental health

People relax in the sunshine on the banks of the River Thames, with the City of London financial district in the distance, in London, Britain June 16, 2022. REUTERS/Henry Nicholls/File photo

LONDON, July 8 (Reuters) – Investors representing $7 trillion in assets have written to the chief executives of 100 of the UK’s biggest companies to ask them to do more to support mental health in the workplace, they said Friday.

The group of 29 asset owners, institutional investors and management service providers is led by charity investment firm CCLA and includes Federated Hermes (FHI.N) and Nomura asset management (9716.T).

The investors asked the company’s CEOs to set goals and targets for improving mental health in the workplace and to report annually on their progress.

“Creating a workplace that does not harm the mental or physical health of workers is not only a moral necessity but also a financial imperative,” said Amy Browne, CCLA director of administration.

The investment group cited a report by consultancy Deloitte estimating the total annual cost of poor mental health to the UK private sector at £43 billion to £46 billion ($51.55 billion to £55.15 billion) in 2020–21, 25% higher than pre-pandemic estimates. in 2019.

However, the return on investment for workplace mental health interventions was £5.30 for every pound invested in 2020-2021, according to the report.

($1 = 0.8341 pounds)

Information from Carolyn Cohn; Edited by Jan Harvey

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