- Conference
- 2007 National Delegate Conference
- Date
- 16 February 2007
- Decision
- Carried
Conference notes that workers around the world have become “citizen investors” through their occupational pension schemes and savings, and are now collectively the majority owners of most large companies.
Conference also recognises growing evidence that good governance of pension funds and active shareholder engagement with companies can improve fund values while simultaneously benefiting employees and society at large.
Conference therefore endorses UNISON’s programme to provide support for Member-Nominated Representatives (MNRs) and Trustees on occupational pension schemes in accordance with Motion 31, 2005, welcoming the development of the national forum for Capital Stewardship, the web-based community and Capital Stewardship training programme.
Conference endorses the work of the Trades Union Congress (TUC), other national centres and the ICFTU in developing Capital Stewardship programmes nationally and internationally to enhance the ownership rights of workers as investors, and to use these rights to advance trade union industrial and social policy where this is not in conflict with fund fiduciary responsibilities.
In furtherance of this work, and in defence of our pensions, conference requests the National Executive Council to give consideration to the following proposals:
1)a national campaign to recruit to occupational schemes, to assist in the training of MNRs and trustees, and to encourage other members to participate in scheme governance and assist MNRs;
2) continued pressure on government and employers to enhance the rights of members over governance of their schemes;
3)continued pressure on government and employers to achieve best practice in scheme governance, auditing, reporting, communications with members and the voting of stock at company annual general meetings by pension fund trustees and MNRs;
4)the encouragement of other TUC affiliates to develop their own Capital Stewardship programmes, recognising the benefits of collaboration and joint working;
5)the development of our own governance Guidelines, Investment Guidelines and Shareholder Engagement Guidelines for member representatives based on UNISON social and industrial policy and corporate governance best practice, so long as these are compliant with fiduciary duties;
6)participation with other unions and Capital Stewardship organisations in shareholder engagement activity and lobbying for regulatory change where UNISON guidelines share similar goals;
7)initiation of shareholder engagement activity, in conjunction with other Capital Stewardship organisations, to influence companies UNISON believes are posing a risk to investors, or failing to perform adequately;
8)consultation with other trade unions to establish an independent index of company labour standards, risk and performance to assist investment decisions;
9)policy development regarding fiscal and other economic measures necessary for investment in order to improve fund values and provide social and environmental benefits for all;
10)campaign and lobby government for Capital Stewardship rights to be extended to contributors to insurance and commercial savings funds.