A decent standard of living is a human right. Paying living wages to workers and living income to farmers means they can have a decent standard of living, and makes sure they don’t work in poverty.
It can help mitigate other human rights issues too, like forced or child labour. Fairly paid workers are an integral part of a profitable, sustainable and resilient business.
What is a living wage?
In line with the International Labour Organization (ILO) Constitution and the Philadelphia Declaration, and consistent with the spirit of the Universal Declaration of Human Rights (UDHR), the ILO denotes that the concept of the living wage is:
“The wage level that is necessary to afford a decent standard of living for workers and their families, taking into account the country circumstances and calculated for the work performed during normal hours.”
What is a living income?
According to The Living Income Community of Practice it is:
“The net annual income required for a household in a particular place to afford a decent standard of living for all members of that household.”