"All of us whose money is going into the system need to be given the opportunity to exercise some simple choices about stewardship. A consumer who walks down the supermarket aisle can choose to buy Fair Trade coffee, and they know what that means. The same should happen when we look at products offered us by fund managers: we should be able to tell the stewardship content," - Mark Goyder, Founder Director of Tomorrow’s Company
An article published in The Guardian newspaper (on 21/6/11) - featuring contributions and comment from Mark Goyder - sets out the expectation that Business Secretary Vince Cable will use his speech to the Association of British Insurers on Wednesday (22/6/11) to renew his calls for UK plc to take a more long term view of its activities.
This expectation of a renewed call for action is the result of a major seven month consultation, inspired by the events of the Kraft takeover of Cadbury and begun in September 2010, which looked into issues of corporate short-termism such as takeovers and executive pay – problems which Mr. Cable believes pose an increasing threat to the UK economy.
"Short-term investors and financial gamblers value a quick buck above all else, for example, by driving company boards into accepting takeover bids that make no economic sense. We need shareholders that act like long-term owners, alive to the risks of instability and the broader consequences of how the companies they own behave," - Vince Cable
During the review Mr. Cable consulted with a broad range of stakeholders, including Tomorrow’s Company. The Guardian report highlights Tomorrow’s Company’s vision of stewardship and contains a series of quotes from Founder Director Mark Goyder which illustrate the importance of stewardship in creating a system which encourages investors, and especially pension funds, to take a longer-term view of investments.