Putting long-term thinking on the map worldwide
FCLT goes Global
SHIFT TO congratulates FCLT Global (formerly 'Focusing Capital on the Long Term' and their new Board of directors and global membership, marking its transformation from an initiative to an independent not-for-profit organization. The shift from short-term thinking to a more sustainable approach seems to be getting more of a foothold. A short overview of what was written:
Canada’s The Globe and Mail describes FCLT Global as ‘a group of International executives fed up with companies’ push for quick profits at the expense of more significant gains down the road’ in this article. The newspaper talks about the pressure that executives and directors feel to deliver results in two-year frames. Investment & Pensions Europe gives a short summary of the Board of Directors of FCLT Global and the companies they are tied to. The participation of CPPIB in FCLT is highlighted in an article in Benefits Canada.
‘Rising to the Challenge of Short-Terminism’, the white paper published bij FLCT together with the board announcement, is also being picked up on social media. In this blog on LinkedIn, a long-term strategy is being described as necessary as a core strategy and not just an afterthought. The coverage of FCLT on Twitter can be tracked here.
The FCLT announcement coincided with a commentary from US Vice-President Joe Biden about the risks of only focusing on short-term investments in the Wall Street Journal. Here, Biden urges that the future of the economy depends on the shift to a more long-term invested view in business. This subject appears to be a growing interest of the outgoing administration. Besides reading the article itself, please do not withhold yourself from reading the comments on the American VP’s opinion piece.