FCLT Global (formerly “Focusing Capital on the Long Term”) announces Board of Directors and global membership; releases new research underscoring growing short-term pressures faced by CEOs.

New York, September 28, 2016 – FCLT Global (formerly “Focusing Capital on the Long Term”) announced today its Board of Directors and global membership, marking its transformation from an initiative to an independent not-for-profit organization dedicated to encouraging long-termism in business and investment decision-making.

In conjunction, FCLTGlobal released a whitepaper, with new data from aMcKinsey Quarterly survey panel, highlighting the challenges and costs that senior business executives world-wide are facing with the rise of short-termism.  Key findings include:

FCLT Global’s Chief Executive Officer, Sarah Keohane Williamson, said: “Short-termism is an issue that is costly to many countries and regions around the world, and we have a lot to accomplish. Our founding organizations and members are integral to the work of FCLT Global in developing practical approaches to creating long-term value and to implementing innovative ideas to advance greater long-term behaviors.”

FCLT Global will hold its first Board meeting today in New York, to convene FCLT Global’s leaders on the organization’s research priorities and strategic direction around long-termism. The organization’s Board members are:

Larry Fink, Chairman and CEO of BlackRock, will serve as a Strategic Advisor to FCLT Global.

The organization started as an initiative formed in 2013 by Canada Pension Plan Investment Board (“CPPIB”), and McKinsey & Company. The founders of the new organization, FCLT Global, are BlackRock, CPPIB, The Dow Chemical Company (“Dow”), McKinsey & Company, and Tata Sons.

In addition to the founders, FCLT Global involves member organizations, from nine countries, committed to achieving long-term tangible actions that benefit businesses, markets and societies more broadly. The members announced today include: APG, ATP, BP, Caisse de dépôt et placement du Québec, Edelman, GIC, Hillhouse Capital Group, Kempen Capital Management, New Zealand Super Fund, Ontario Teachers’ Pension Plan, PGGM, Piramal Enterprises Limited, Russell Reynolds Associates, State Street Global Advisors, Sullivan & Cromwell LLP, Unilever, and Washington State Investment Board. Information on becoming a member of FCLT Global is available at www.fcltglobal.org.

About FCLT Global

FCLT Global is dedicated to developing practical tools and approaches that encourage long-term behaviors in business and investment decision-making.

It takes an active and market-based approach to achieve its goals.  By conducting research and convening business leaders, FCLT Global develops tools and generates awareness of ways in which a longer-term focus can increase innovation, economic growth and future savings.

FCLT Global’s membership encompasses asset owners, asset managers and corporations from around the world.

Please visit www.fcltglobal.org for more information.

Media Contacts

Nadia Damouni, Edelman, on behalf of FCLT Global
T: (917) 344-4771
[email protected]

Woomi Yun, Edelman, on behalf of FCLT Global
T: (212) 729-2166
[email protected]