Key Takeaways
- • Only five of 119 companies assessed in CCLA's third-year Corporate Mental Health Benchmark Global 100+ placed in the top two performance tiers, according to CCLA.
- • HSBC was the only company ranked in the top tier; Roche Holding, Shell, Toronto-Dominion Bank and TotalEnergies were placed in tier two.
- • Six of the magnificent seven tech giants (Alphabet, Apple, Meta Platforms, Microsoft, Nvidia and Tesla) scored between zero and 20% and ranked in the lowest tier, while Amazon ranked in tier four.
- • The average improvement score was 28%, and only 12 companies improved performance since the prior assessment, while just 24% disclose mental health training for line managers.
- • CCLA estimates mental health interventions at work yield an average return of £4.70 for every £1 spent, a case the firm uses to call on CEOs to lead on the issue.
Summary
CCLA Investment Management's Corporate Mental Health Benchmark, now in its third year, found limited progress among 119 leading global listed companies in how they manage and report on workplace mental health, according to CCLA. Only five companies were placed in the top two performance tiers. HSBC was the only company ranked in the top tier, followed by Roche Holding, Shell, Toronto-Dominion Bank and TotalEnergies in tier two. Only 12 companies improved their performance since the last assessment.
The benchmark evaluates companies against 27 criteria across management commitment and policy, governance and management, leadership and innovation, and performance reporting and impact, using publicly available information. Six of the magnificent seven technology companies ranked in the lowest tier: Alphabet, Apple, Meta Platforms, Microsoft, Nvidia and Tesla each scored between zero and 20%. Amazon ranked in tier four.
The average improvement score was 28% this year. The 10 companies added in 2024 achieved an overall score of 22%. Just 24% of companies disclose providing mental health training to line managers, a 2% increase from 2023. Mental health training is a key intervention recommended in the 2022 WHO guidelines on mental health at work. Among the 99 companies that have participated across the past three years, the average score rose from 24% in 2022 to 29% in 2024.
The report also noted positive signs: 98% of Global 100+ companies provide some degree of mental health support services, and 78% disclose awareness-raising initiatives. The benchmark is backed by a coalition of 55 investors, including Schroders, Rathbone Greenbank and Federated Hermes, with combined assets under management of $9.8trn (£7.5trn) as at August 2024.
Amy Browne, director of stewardship at CCLA and co-author of the report, said it was disappointing that companies had not made more progress, given the economic case, and called on CEOs to demonstrate clear leadership, set targets and equip managers with training. CCLA chief executive Peter Hugh Smith said the firm would continue to engage companies. Remi Fernandez, head of human rights, social and governance issues at the Principles for Responsible Investment, said the PRI encourages signatories to engage companies on workplace mental health as a material investor issue.
The benchmark evaluates companies against 27 criteria across management commitment and policy, governance and management, leadership and innovation, and performance reporting and impact, using publicly available information. Six of the magnificent seven technology companies ranked in the lowest tier: Alphabet, Apple, Meta Platforms, Microsoft, Nvidia and Tesla each scored between zero and 20%. Amazon ranked in tier four.
The average improvement score was 28% this year. The 10 companies added in 2024 achieved an overall score of 22%. Just 24% of companies disclose providing mental health training to line managers, a 2% increase from 2023. Mental health training is a key intervention recommended in the 2022 WHO guidelines on mental health at work. Among the 99 companies that have participated across the past three years, the average score rose from 24% in 2022 to 29% in 2024.
The report also noted positive signs: 98% of Global 100+ companies provide some degree of mental health support services, and 78% disclose awareness-raising initiatives. The benchmark is backed by a coalition of 55 investors, including Schroders, Rathbone Greenbank and Federated Hermes, with combined assets under management of $9.8trn (£7.5trn) as at August 2024.
Amy Browne, director of stewardship at CCLA and co-author of the report, said it was disappointing that companies had not made more progress, given the economic case, and called on CEOs to demonstrate clear leadership, set targets and equip managers with training. CCLA chief executive Peter Hugh Smith said the firm would continue to engage companies. Remi Fernandez, head of human rights, social and governance issues at the Principles for Responsible Investment, said the PRI encourages signatories to engage companies on workplace mental health as a material investor issue.
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