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The workers' capital toolbox
A proactive approach to managing workers’ capital - sometimes called capital stewardship - can help companies build long term value while
avoiding short term excesses.
The key idea is to influence corporate
behaviour by leveraging worker capital as indirect owners of business
through their shareholdings. A wide and varied “toolbox” is
available.
- Positive actions can range from coordinated shareholder
activism and proxy voting campaigns to international engagement with
companies in which retirement funds hold stock as well as investment
managers.
- Alternately, “negative” screening is available to weed out
companies pursuing undesirable practices (social, environmental,
lacking workers rights, etc.) from pension fund and retirement
investments.
- With effective organization and coordination, worker
capital can help address persistent corporate or market failings,
resulting in improved corporate governance.
- Capital can be steered to
needy areas of the economy that traditional institutional investment
has failed to serve properly, which is known as economically targeted investment.
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