Committee on Workers’ Capital Releases Guidelines for the Evaluation of Workers’ Human Rights and Labor Standards
In honor of International Workers’ Day, on May 1 the Committee on Workers’ Capital (CWC) released its Guidelines for the Evaluation of Workers’ Human Rights and Labor Standards. Produced by a trade union task force and endorsed by the Council of Global Unions (CGU), the Guidelines are a comprehensive set of key performance indicators for investors to evaluate companies’ performance with regard to labor relations and workers’ rights. Croatan Institute Senior Fellow Liz Umlas is a member of the task force that produced the Guidelines.
It has been evident for years that comprehension, measurement, and analysis of the “S” in ESG (environmental, social, and governance) lag behind those of “E” and “G.” Within social issues, corporate performance on human rights – and especially workers’ rights – is inadequately assessed despite recent developments at the international level, such as the creation and endorsement of the UN Guiding Principles on Business and Human Rights. The CWC decided to produce the Guidelines in response to concerns that asset owners and other investment chain actors do not have the tools needed to properly evaluate labor relations in their ESG analysis. The CWC will use the Guidelines to elevate the profile of decent work practices in its work with pension fund trustees and other investment chain actors such as sustainability ratings agencies.
A press release, with links to a one-page brief as well as the Guidelines themselves, is available here.
For more information, please contact Liz at liz [at] croataninstitute [dot] org.