The Principles lay out the investment stewardship principles that the CWC expects the asset management community to adopt as the world recovers, reinvests and rebuilds from the global pandemic over the coming months and years.
The letter was sent to the following 10 global asset managers (click on the asset manager names to see the letter):
- Banco Santander
- Legal & General IM
- Macquarie Group
- State Street Global Advisors
- Sumitomo Trust Asset Management
- UBS Group AG
- The Vanguard Group
The letter urges asset managers to embed the following principles in their investment due diligence and investment stewardship principles and activities:
- Principle 1: Recognizing that companies have an immediate responsibility to protect the health and safety of their workforce, supply chain workers, and independent contractors
- Principle 2: Promoting investment stewardship approaches that recognize the value that workers bring to companies
- Principle 3: Elevating freedom of association and collective bargaining, one of the ILO Fundamental Principles and Rights at Work, as an investment stewardship priority
- Principle 4: Supporting and seizing opportunities to support a sustainable economic recovery
The CWC will work with the pension fund board members who participate in our network and oversee the retirement savings of millions of workers to incorporate these principles into their expectations of asset managers.