Resources
We conduct original research on the causes of short-term business decisions and work to find practical solutions.
Governance | Case Study
15 September 2025 - Votorantim is a real-world example of how long-term boards align company values with strategic vision. The company’s governance structure operates on three interconnected axes, represented by distinct but complementary bodies: Ownership – The Board of Hejoassu, Votorantim’s shareholder. Family – The shareholder family Board. Business – Votorantim S/A, led by two collaborative entities: the Board of Directors and the Management Teams of Votorantim and its portfolio companies. A challenge Votorantim navigates is its positioning as a company based in a developing country while operating across developed markets. The company...
In the News
12 August 2025 - Why proxy advisors draw criticism from investors and companies, and practical solutions to improve the proxy voting process including pre-disclosure and unbundling services.
In the News
4 August 2025 - Your Lex note on governance issues at Wise, the UK fintech, rightly highlights the need for quality research from proxy advisers (July 30). FCLTGlobal’s recent study of the proxy system reveals a structural problem: investors typically pay for research and operational services in a single bundle, in effect forcing the platform business to subsidise research costs. This undermines research quality precisely when shareholders need a better insight into complex voting matters. If investors want better, more informed insight on key votes, they should insist on — and pay for — unbundled, high-quality research separate from operational services.
In the News
29 July 2025 - New federal law creates $1000 investment accounts for all babies born 2025-2028.
Risk and Resilience | Report
14 July 2025 - Climate change is a force reshaping the global economy—and will influence capital allocation for decades to come. Climate-related risks and externalities, especially carbon emissions, are becoming material to long-term financial decision-making.
Investor-Corporate Engagement | Article
23 June 2025 - The global proxy system is at a crossroads. Frustrations from investors and issuers in the proxy process are leading to frequent headlines from both camps calling for reform, but solutions have been elusive. Furthermore, frustrations with the proxy process are often cited as one of the reasons companies question the need to be publicly listed, especially given the rise of private markets investing in the last decade.
In the News
12 June 2025 - In response to multiple, concurrent crises, MFS believes investors should look beyond external factors like interest rates and geopolitical risks that are out of their control – and instead adopt an approach that enables them to not just cope, but rise above the current noise and build resilience, says Carol Geremia, President of MFS and Co-Head of Global Distribution.
In the News
12 June 2025 - Coca-Cola, BP, HSBC and countless others are dropping environmental goals, highlighting the inadequacy of voluntary action.
Video
30 May 2025 - In this meeting, our research staff offers analysis on the latest findings from our FCLT Compass dashboard, recaps recently published reports, and provides a preview of what's next on our research agenda.
Innovation, Investor-Corporate Engagement | Podcast
27 May 2025 - “We have the humility of an LP, but we also have the rigor of a GP. So, when you combine those two, you get something like Capital Constellation, which is a very innovative collaborative ecosystem of asset owners and asset managers.”
Governance | Report
19 May 2025 - Companies — both public and private — strive to build boards that are instrumental in creating long-term value. But boards often feel they must follow somebody else's playbook. As companies grow, especially when they transition from private to public markets, they encounter a set of norms that governance experts expect them to follow. While some of these norms are listing requirements or laws that companies must follow, many are simply conventions rather than mandates.
In the News
11 May 2025 - Two hundred years ago, David Ricardo put forth the idea that trade can be a win-win for countries of varying skills and specializations. It's critical that we do not forget that lesson now.