Long Term Investment & Accountability of the Investment Chain - What the OECD should do
TUAC issues paper
26/05/2015
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Following the 2008 financial crisis and the G20 policy agenda that has unfolded, the OECD has implemented a number of initiatives that relate to long-term investment and/or to investment chain issues.
The OECD work on long-term investment (LTI) is based on the assumption of a growing gap between future infrastructure needs and traditional sources of funding: public procurement (because of the austerity measures) and bank loans (because of the aftermath of the 2008 banking crisis). Accordingly, institutional investors must step in and diversify their portfolios toward greater exposure to infrastructure (bonds, private funds and direct investment). There surely is room for improvement. According to the latest OECD survey of large pension funds, unlisted infrastructure (i.e. private infrastructure funds and direct investment) accounts for just 1% of total assets. ...
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Links:
TUAC (& ITUC/L20):
- 09/02/2015| L20 Priority Recommendations to the G20 Finance Ministers, February 2015 http://www.tuac.org/en/public/e-docs/00/00/0F/DC/document_doc.phtml
- 01/12/2014| TUAC Ad Hoc meeting on Pension reforms http://www.tuac.org/en/public/e-docs/00/00/0F/A1/document_doc.phtml
- 28/10/2014| The impact of financial reforms on the business model of banks and their social implications: a dialogue between the Finance Stability Board, business leaders and union leaders http://www.tuac.org/en/public/e-docs/00/00/0F/64/document_doc.phtml
- 13/10/2014| TUAC Submission on the Review of the Principles of Corporate Governance http://www.tuac.org/en/public/e-docs/00/00/0F/7C/document_doc.phtml
- 23/07/2014| L20 Submission to the G20 Investment and Infrastructure Working Group, 4 June 2014, Singapore http://www.ituc-csi.org/l20-submission-to-the-g20
- 05/03/2014| OECD Task Force on Institutional Investors and Long Term Financing: TUAC Submission http://www.tuac.org/en/public/e-docs/00/00/0E/42/document_doc.phtml
- 16/10/2013| Economic Briefing: A review of the G20 agenda on tax avoidance and on long-term investment http://www.tuac.org/en/public/e-docs/00/00/0D/83/document_doc.phtml
OECD:
- DAF/FIN: Institutional investors and long-term investment http://www.oecd.org/pensions/private-pensions/institutionalinvestorsandlong-terminvestment.htm
- DAF/CA : 2014-2015 Review of the OECD Principles of Corporate Governance http://www.oecd.org/daf/ca/2014-review-oecd-corporate-governance-principles.htm & OECD Trust and Business (TNB) Project http://www.oecd.org/daf/ca/trust-business.htm
- DAF/INV: Guidelines for MNEs - Responsible business conduct in the financial sector http://mneguidelines.oecd.org/rbc-financial-sector.htm
- GOV: Principles for Public Governance of Public-Private Partnerships http://www.oecd.org/governance/budgeting/PPP-Recommendation.pdf