Driving decent work in private markets
Pension fund allocation to private markets – including real estate, private equity, infrastructure and unlisted assets – is on the rise. These asset classes comprise a specific set of risks to decent work and workers’ rights that are distinct from public equities.
The CCSN is undertaking an initiative to encourage pension funds to implement proactive measures to promote safe, sustainable and responsible business practices. Among these measures are Responsible Contractor Policies (RCPs). RCPs encourage and support fair wages and protections for workers employed by a company’s contractors and subcontractors. They are used to set clear expectations in sectors that include janitorial and building services, construction, manufacturing, public sectors and hospitals.
Many public sector pension funds and asset managers in the United States with large real estate holdings have developed RCPs.
If you are a trustee interested in learning more, please click here to contact the secretariat.