What is workers’ capital?

Workers’ capital is the deferred retirement savings of workers. It is accumulated in collectively funded schemes in order to provide workers with financial security in their retirement.

As beneficial owners of these deferred wages, workers are the indirect owners of a substantial portion of the world’s equities. In 2016, private pension assets in OECD countries reached $38 trillion. This represents an average asset-to-GDP ratio of 49.6 percent in OECD countries. As a result, workers’ capital is invested in financial markets across the globe and across asset classes such as public equities, fixed income and alternative investments.

What is capital stewardship?

The investment of worker retirement savings is meant to provide long-term financial returns to pension beneficiaries. A proactive approach to managing workers’ capital - sometimes called capital stewardship - can help companies build long-term value and drive the integration of environmental, social and governance (ESG) issues in decision making.

By enacting investment policies that encourage long-term investment and performance on ESG issues, the representatives of workers on pension fund boards have a critical role to play in ensuring companies respect human and labour rights, remain financially sustainable, and minimize environmental impacts.

What is the CWC?

Understanding the power of workers’ capital, the CWC (Global Unions Committee on Workers’ Capital) was established in 1999 to promote information sharing and joint action. Our work is led by a Leadership Team composed of a Chair and co-chairs. It is supported by our Networked Secretariat, which includes unions around the world and meets on a monthly basis. The CWC Secretariat is based out of SHARE in Canada. The CWC’s work is led by the Chair and Co-Chairs, and supported by the CWC Secretariat. Our team currently consists of:

CWC Leadership Team

• Chair: Christoffer Jönsson, LO-Sweden, CEO of Folksam LO Pension and Bantorget Förvaltning
• Co-chair: Liz Shuler, President of the AFL-CIO (American Federation of Labor and Congress of Industrial Organizations)
• Co-chair: Paddy Crumlin, President of the ITF (International Transport Workers’ Federation)
• ITUC: Sharan Burrow, General Secretary of the ITUC (International Trade Union Confederation)

CWC Secretariat

• Hugues Létourneau, Associate Director
• Tamara Herman, Manager
• Shalini Ramgoolam, Program Officer
• Zaee Deshpande, Program Officer

Join Us

Participation in the CWC is open to representatives from the trade union movement.

Please click here and fill out the form to have access to the participant section of the website.

Photo: Pixabay | MichaelGaida

1) How do we collect information from you:
We obtain information about you when you sign up to the participant area of the CWC website, register for a meeting or event organised by the CWC, or if you register to receive our newsletters.

2) What information is being collected:
The personal information we collect includes your name, e-mail address, the organisation you work for, union affiliation, country, and fund name (for trustees). We process your data on MailChimp.

3) How is information being used:
We may use your information to:

• comply with applicable laws
• seek input and views on the activities we undertake
• send you communications which you have requested and that may be of interest to you

4) With whom do we share your information:
We will never sell your personal information information to third parties without your consent.

5) Communication choices and rights:
Under the EU GDPR, your principal rights are: the right to access; the right to rectification; the right to erasure; the right to restrict processing; the right to object to processing; the right to data portability; the right to complain to a supervisory authority; and the right to withdraw consent.

How do you opt out of receiving emails from the CWC?
Any mass emails that we send you will enable you to opt-out of receiving further emails from us.

How can you access your information?
Please contact us via e-mail info (at) workerscapital . org with "Right to Access" in the subject heading. If you are registered in our database, we will provide you a record of the personal data that we hold free of charge.

How can you update your information?
The accuracy of your personal information is important to us. If you would like us to update your personal information, please let us know via e-mail at info (at) workerscapital . org

Contact Information:
If you have any questions or comments regarding the privacy of your personal data and its use by the CWC, please contact info (at) workerscapital . org

Last Review: 24/05/2018