In hopes of setting the standard in its industry, banking powerhouse Barclays recently began a new trend in corporate responsibility. This will include screening £1.5 billion in supplier expenditures.

The company introduced a “corporate responsibility supplier questionnaire” last year with a goal of ensuring that Barclays “engages with the right suppliers and that they have suitable corporate responsibility policies in line with Barclays’ standards,” according to a company spokesman.

Much to the delight of London Barclay employees, the company has also raised the minimum wage paid to London employees to £7.50. The current minimum wage set by the Mayor of London is £7.20.

Commentary:When living in the second most expensive city in the world any raise is a welcome one. We’re talking about a place where a meal at McDonalds can cost you over £6 (nearly $12).