{"id":7622,"date":"2022-07-13T08:00:13","date_gmt":"2022-07-13T06:00:13","guid":{"rendered":"https:\/\/uniglobalunion.org\/?post_type=news&p=7622"},"modified":"2022-07-13T09:20:41","modified_gmt":"2022-07-13T07:20:41","slug":"global-trade-unions-release-expectations-for-asset-managers-on-workers-rights","status":"publish","type":"news","link":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/","title":{"rendered":"Global trade unions release expectations for asset managers on workers\u2019 rights"},"content":{"rendered":"

The Global Unions\u2019 Committee on Workers\u2019 Capital (CWC) released today its Baseline Expectations for Asset Managers on Fundamental Labour Rights<\/a> (\u201cCWC Baseline Expectations\u201d). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable on fundamental labour rights. \u00a0<\/p>\r\n

Global asset managers invest capital on behalf of workers\u2019 retirement savings funds. Pension fund trustees who sit on the boards of these funds and participate in the CWC network expect their managers will uphold their responsibilities to mitigate adverse labour rights impacts in their investments. Likewise, other types of asset owner vehicles, including foundations and religious investors, also have growing expectations of their managers.<\/p>\r\n

\u201cGlobal asset managers can hold sizeable stakes in public and private market investments where fundamental labour rights, such as the right to freedom of association and collective bargaining, are violated,\u201d said Paddy Crumlin, President of the International Transport Workers\u2019 Federation (ITF) and vice-president of the CWC<\/strong>. \u201cAsset owners can now use the Baseline Expectations to drive actions by asset managers to use their influence and ultimately drive impact on the ground for workers whose rights are violated.\u201d<\/p>\r\n

The CWC Baseline Expectations progress from \u201cbaseline\u201d into \u201cgood practices\u201d and are divided in four categories from which to assess an asset manager\u2019s level of commitment to respecting and upholding fundamental labour rights:<\/p>\r\n

    \r\n\t
  1. Stewardship framework;<\/li>\r\n\t
  2. Stewardship practices in public equities (proxy voting and shareholder engagement);<\/li>\r\n\t
  3. Stewardship practices in private markets; and<\/li>\r\n\t
  4. Policy advocacy.<\/li>\r\n<\/ol>\r\n

    The framework is anchored in the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises which lay out investor responsibilities to carry out due diligence and prevent or mitigate adverse environmental and social impacts.\u00a0<\/p>\r\n

    “Asset managers must take robust action to integrate fundamental workers’ rights–like freedom of association and collective bargaining–into their stewardship frameworks and practices, and these expectations provide a guide for the steps that need to be taken now,” said Christy Hoffman, UNI Global Union General Secretary<\/strong>. “Union retirement funds should not be used to perpetuate violations workers’ fundamental rights.”<\/p>\r\n

    \u201cMarketing around ESG investment has put the onus on asset owners to differentiate the asset managers that walk the talk from those that don\u2019t on human and labour rights stewardship,\u201d said Christoffer J\u00f6nsson, CEO of Folksam LO Pension and chair of the CWC<\/strong>. \u201cAmid the crosshairs, I will use this tool to ask questions of our external asset managers with the aim of encouraging a race to the top.\u201d<\/p>\r\n

    The CWC Baseline Expectations were developed collaboratively by trade union officials and pension fund trustees affiliated to unions, including: the Australian Council of Trade Unions (Australia), AFL-CIO (USA), Comisiones Obreras (Spain), FNV (Netherlands), the International Trade Union Confederation, UNI Global Union, the International Transport Workers\u2019 Federation and the Trade Union Advisory Committee to the OECD (TUAC).\u00a0<\/p>\r\n

    —<\/p>\r\n

    About the Global Unions Committee on Workers\u2019 Capital (CWC)<\/strong>
    \r\nThe Global Unions Committee on Workers\u2019 Capital (CWC) is an international labour union network for dialogue and action on the responsible investment of workers\u2019 retirement savings. It is a joint initiative of the International Trade Union Confederation (ITUC), the Global Unions Federation (GUFs), and the Trade Union Advisory Committee to the OECD (TUAC).<\/p>\r\n

    www.workerscapital.org<\/a> \u00a0| @workerscapital<\/a><\/p>","protected":false},"excerpt":{"rendered":"

    The Global Unions\u2019 Committee on Workers\u2019 Capital (CWC) released today its Baseline Expectations for Asset Managers on Fundamental Labour Rights (\u201cCWC Baseline Expectations\u201d). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable<\/p>\n","protected":false},"author":13,"featured_media":7624,"template":"","categories":[],"global-issues":[33],"sectors":[],"cross-sector-groups":[],"workers-rights":[],"regions":[],"topics":[52],"class_list":["post-7622","news","type-news","status-publish","has-post-thumbnail","hentry","global-issues-business-and-human-rights","topics-due-diligence"],"acf":[],"yoast_head":"\nGlobal trade unions release expectations for asset managers on workers\u2019 rights<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global trade unions release expectations for asset managers on workers\u2019 rights\" \/>\n<meta property=\"og:description\" content=\"The Global Unions\u2019 Committee on Workers\u2019 Capital (CWC) released today its Baseline Expectations for Asset Managers on Fundamental Labour Rights (\u201cCWC Baseline Expectations\u201d). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/\" \/>\n<meta property=\"og:site_name\" content=\"UNI Global Union\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-13T07:20:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002-1200x630.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/\",\"url\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/\",\"name\":\"Global trade unions release expectations for asset managers on workers\u2019 rights\",\"isPartOf\":{\"@id\":\"https:\/\/uniglobalunion.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png\",\"datePublished\":\"2022-07-13T06:00:13+00:00\",\"dateModified\":\"2022-07-13T07:20:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage\",\"url\":\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png\",\"contentUrl\":\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png\",\"width\":1600,\"height\":900},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniglobalunion.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/uniglobalunion.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Global trade unions release expectations for asset managers on workers\u2019 rights\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniglobalunion.org\/#website\",\"url\":\"https:\/\/uniglobalunion.org\/\",\"name\":\"UNI Global Union\",\"description\":\"UNI Global Union\",\"publisher\":{\"@id\":\"https:\/\/uniglobalunion.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniglobalunion.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniglobalunion.org\/#organization\",\"name\":\"UNI Global Union\",\"url\":\"https:\/\/uniglobalunion.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/uniglobalunion.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Uni-Global-Logo-LANDSCAPE.png\",\"contentUrl\":\"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Uni-Global-Logo-LANDSCAPE.png\",\"width\":1255,\"height\":710,\"caption\":\"UNI Global Union\"},\"image\":{\"@id\":\"https:\/\/uniglobalunion.org\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Global trade unions release expectations for asset managers on workers\u2019 rights","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/","og_locale":"en_GB","og_type":"article","og_title":"Global trade unions release expectations for asset managers on workers\u2019 rights","og_description":"The Global Unions\u2019 Committee on Workers\u2019 Capital (CWC) released today its Baseline Expectations for Asset Managers on Fundamental Labour Rights (\u201cCWC Baseline Expectations\u201d). Developed by trade unions and pension fund board members as part of the Asset Manager Accountability Initiative, the CWC Baseline Expectations will help asset owners hold the asset managers they contract accountable","og_url":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/","og_site_name":"UNI Global Union","article_modified_time":"2022-07-13T07:20:41+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002-1200x630.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/","url":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/","name":"Global trade unions release expectations for asset managers on workers\u2019 rights","isPartOf":{"@id":"https:\/\/uniglobalunion.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage"},"image":{"@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage"},"thumbnailUrl":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png","datePublished":"2022-07-13T06:00:13+00:00","dateModified":"2022-07-13T07:20:41+00:00","breadcrumb":{"@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#primaryimage","url":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png","contentUrl":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Report-Graphic-002.png","width":1600,"height":900},{"@type":"BreadcrumbList","@id":"https:\/\/uniglobalunion.org\/news\/global-trade-unions-release-expectations-for-asset-managers-on-workers-rights\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniglobalunion.org\/"},{"@type":"ListItem","position":2,"name":"News","item":"https:\/\/uniglobalunion.org\/news\/"},{"@type":"ListItem","position":3,"name":"Global trade unions release expectations for asset managers on workers\u2019 rights"}]},{"@type":"WebSite","@id":"https:\/\/uniglobalunion.org\/#website","url":"https:\/\/uniglobalunion.org\/","name":"UNI Global Union","description":"UNI Global Union","publisher":{"@id":"https:\/\/uniglobalunion.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniglobalunion.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/uniglobalunion.org\/#organization","name":"UNI Global Union","url":"https:\/\/uniglobalunion.org\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/uniglobalunion.org\/#\/schema\/logo\/image\/","url":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Uni-Global-Logo-LANDSCAPE.png","contentUrl":"https:\/\/uniglobalunion.org\/wp-content\/uploads\/Uni-Global-Logo-LANDSCAPE.png","width":1255,"height":710,"caption":"UNI Global Union"},"image":{"@id":"https:\/\/uniglobalunion.org\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/news\/7622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/users\/13"}],"version-history":[{"count":1,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/news\/7622\/revisions"}],"predecessor-version":[{"id":7623,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/news\/7622\/revisions\/7623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/media\/7624"}],"wp:attachment":[{"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/media?parent=7622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/categories?post=7622"},{"taxonomy":"global-issues","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/global-issues?post=7622"},{"taxonomy":"sectors","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/sectors?post=7622"},{"taxonomy":"cross-sector-groups","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/cross-sector-groups?post=7622"},{"taxonomy":"workers-rights","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/workers-rights?post=7622"},{"taxonomy":"regions","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/regions?post=7622"},{"taxonomy":"topics","embeddable":true,"href":"https:\/\/uniglobalunion.org\/wp-json\/wp\/v2\/topics?post=7622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}