The CWC’s work on economically targeted investment (ETI) is directed at trade union pension investment experts with an interest in triple bottom line investing.
In both developed and developing economies, opportunities exist for pension funds to generate market rates of return in ways that generate job and income growth and improve public infrastructure.
In some jurisdictions, the labour movement has created financial services organisations to facilitate the delivery of these and other services. Cross-border pension fund investment can also assist in meeting these goals. Conversely, where adequate policies are not in place, the risk exists that investment capital will flow out of countries and regions based on political considerations that reflect neither the interests of working people nor an accurate financial risk assessment.
Network of Labour-linked Financial Services Companies
Around the world, the trade union movement has strong ties to financial service companies that service union members, the general public, or both. Due to differing national circumstances and history, these companies vary considerably in size, structure, and the services they offer. In some countries, unions own such companies outright; in others, unions are a privileged and established client base. Improving collaboration between these institutions represents an untapped opportunity.
Recognizing this opportunity, the Global Unions Committee on Workers’ Capital (CWC) and EURESA Institute formed a partnership to organize a series of meetings for senior managers and CEOs of labour-linked financial services companies to provide a forum for dialogue and cooperation.
Themes discussed at previous meetings included the regulatory environment and relations with trade unions (2005), responsible investment and marketing strategies (2005) and engagement with the UN Principles on Responsible Investment and the Global Reporting Initiative (2008) and access to capital in light of the financial crisis (2010).
Case-studies and panel discussions are used to maximize the practical application of the knowledge exchanged among participants. The meetings take on a global dimension through the participation of companies from Europe, North America and Africa.
Reports
Helping Workers' Capital Work Harder: A report on global ETIs
Authored by Thomas Croft, Director of the Heartland Labour/Capital Network Steel Valley Authority, this report highlights how investments can affect positive social andenvironmental changes while also ensuring financial return. The report argues for the creation of an international solidarity capital network of responsible funds that cross borders to build worker-friendly, sustainable marketplaces, and calls on capital stewards to explore opportunities such as co-investing, cross-border investing, North-South partnerships, government partnerships and green projects.
Contact
ETI Chair: David Levi, GrowthWorks
CWC Secretariat: Priya Bala-Miller, SHARE