1. Workers’ Capital Stewardship International Trade Union Perspectives
Peter Chapman, SHARE, Canada
TUC Trustee Network Conference
5 June 2006

2. Agenda
Introduction – SHARE and Canada
Challenges and opportunities
International trade union cooperation

3. Shareholder Association for Research and Education (SHARE)
Created by Canadian trade unions
Promotes responsible investment for working Canadians
Trustee education
Shareholder activism and proxy voting
Law reform

4. Pension funds in Canada
40% of workers have workplace pension
Most plans are defined benefit, but…
$800 billion (Cdn) in assets
17% of public equity market
Approx 2000 member-nominated trustees

5. Challenges
Legal interpretations of fiduciary duty
Market short-termism
Globalization of markets, corporations, and service providers

6. $12 trillion in worker capital assets Trade union role in governance
Opportunities
$12 trillion in worker capital assets
Trade union role in governance
Increasing acceptance of ESG factors
UN Principles for Responsible Investment
Disclosure, reporting and financial analysis
Climate change is a catalyst

7. Committee on Workers’ Capital
Brings together international trade union representatives to share information and develop strategies for joint action in the field of workers' capital
Established in 1999

8. Areas of work
Capacity building on pensions and workers’ capital by sharing best practices on pension investment and targeted investment
Policy research and advocacy on corporate and financial market governance
Encourage corporate accountability through shareholder activism and shareholder engagement

9. Examples of activities
International lead trustees meeting (July 5)
Coordinated shareholder engagement - James Hardie (Australia/Netherlands)
Trade union financial services group
OECD Principles of Corporate Governance
Cataloging trustee education practices
Global Reporting Initiative

10. For more information:
ICFTU/TUAC/GUF
Committee on
Workers’ Capital