Corporate Affairs Department:
Protecting Pension Investments—Our Duty as Shareholders & Owners

The UBC’s Corporate Affairs Department is at the forefront of Labor’s effort to advance the interests of workers as important owners in American corporations. 

With the aim of shaping corporate governance and responsible corporate behavior, the Department’s strong worker-owner advocacy is an important component of the UBC's commitment to safeguard our members’ retirement security. 

Over the past several decades, the Carpenter Pension Funds have been the leading activists in the US market, submitting well over 1,000 shareholder proposals for shareholder votes, and engaging hundreds of other companies through less formal means on a wide variety of topics. 

The UBC's Pension Funds’ investments in corporate stocks establish UBC members as significant shareholders in American and Canadian corporations. UBC Funds:

  • Embrace their ownership rights and responsibilities
  • Closely monitor companies
  • Exercise stock voting rights
  • Challenge corporate practices through shareholder proposals and other forms of engagement.

The UBC Funds are advocates for a system of corporate governance designed to enhance the long-term health of our retirement funds, as well as the corporations in which they invest.

"Corporate governance measures that smartly balance the rights and responsibilities of shareholders, boards of directors, and corporate executives are the centerpiece of our activism," says UBC General President Doug McCarron.

"And in an era of over-the-top executive compensation, we are strong and effective advocates for pay for sustained and measureable corporate performance."

 

 

 

UBC Pension Funds are advocates for a system of corporate governance designed to enhance the long-term health of our retirement funds and the corporations in which they invest.
 

While the UBC's shareholder activism has produced positive corporate reforms, it’s clear that more needs to be done. The UBC’s ownership actions will continue to advance corporate governance and executive compensation principles and practices that encourage long-term corporate value creation and an economy that reflects worker-owner interests.

“We have stood up and assumed our rightful role as owners of capital, accepting all the associated rights and responsibilities which that status entails,” McCarron adds. “As the nation’s economy continues to struggle to generate jobs and fair work and living standards, the UBC will intensify its work to establish worker-owners as a compelling and powerful corporate ownership force in our economy.