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Workers’ Capital Stewardship International Trade Union Perspectives Peter Chapman, SHARE, Canada

Workers’ Capital Stewardship International Trade Union Perspectives Peter Chapman, SHARE, Canada TUC Trustee Network Conference 5 June 2006. Agenda Introduction – SHARE and Canada Challenges and opportunities International trade union cooperation.

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Workers’ Capital Stewardship International Trade Union Perspectives Peter Chapman, SHARE, Canada

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  1. Workers’ Capital Stewardship International Trade Union Perspectives Peter Chapman, SHARE, Canada TUC Trustee Network Conference 5 June 2006

  2. Agenda • Introduction – SHARE and Canada • Challenges and opportunities • International trade union cooperation

  3. Shareholder Association for Research and Education (SHARE) • Created by Canadian trade unions • Promotes responsible investment for working Canadians • Trustee education • Shareholder activism and proxy voting • Law reform

  4. Pension funds in Canada • 40% of workers have workplace pension • Most plans are defined benefit, but… • $800 billion (Cdn) in assets • 17% of public equity market • Approx 2000 member-nominated trustees

  5. Challenges • Legal interpretations of fiduciary duty • Market short-termism • Globalization of markets, corporations, and service providers

  6. Opportunities • $12 trillion in worker capital assets • Trade union role in governance • Increasing acceptance of ESG factors • UN Principles for Responsible Investment • Disclosure, reporting and financial analysis • Climate change is a catalyst

  7. Committee on Workers’ Capital • Brings together international trade union representatives to share information and develop strategies for joint action in the field of workers' capital • Established in 1999

  8. Areas of work • Capacity building on pensions and workers’ capital by sharing best practices on pension investment and targeted investment • Policy research and advocacy on corporate and financial market governance • Encourage corporate accountability through shareholder activism and shareholder engagement

  9. Examples of activities • International lead trustees meeting (July 5) • Coordinated shareholder engagement - James Hardie (Australia/Netherlands) • Trade union financial services group • OECD Principles of Corporate Governance • Cataloging trustee education practices • Global Reporting Initiative

  10. For more information: ICFTU/TUAC/GUF Committee on Workers’ Capital www.workerscapital.org

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