NAT.C14 Living wage fundamentals
About the data
WBA benchmarks integrate a common set of core social indicators into all system transformation methodologies to assess whether companies demonstrate a sufficient commitment to responsible conduct. These indicators are used to assess companies, regardless of the sector in which they operate, based on publicly available information, in order to drive transparency about responsible business conduct. The core social indicators are supplemented by transformation-specific social indicators that are relevant to the sectors being assessed (see also Section C – Social inclusion and community impact).
A note on the scoring system
Wikirate uses a standardized 10-point scoring system to enable comparison of company scores across different benchmarks. In the Nature Benchmark, companies can earn 1 point per indicator, which are then added together and calculated as a percentage of the total score for a measurement area (MA) to determine the final score for the MA. The overall Wikirate score is calculated by combining these scores with the appropriate weightings, and converting them to a 10-point scale. For instance, if a company achieves a final score of 50, the corresponding Rating will be 5.
Formula
score = (x) -> if x == "Yes" 10 else 0 weights = (1/3 for i in [0...3]) living_wage = [targets, determination, business_relationship_support] weights.reduce((weighted_sum, weight, index) -> weighted_sum + weight*score(living_wage[index]) , 0)
