FCLTGlobal

FCLTGlobal is a non-profit organization that conducts research and develops frameworks related to extending investment time horizons and corporate planning periods. The organization was established in 2016 to study what it characterizes as short-term pressures in capital markets and corporate decision-making. FCLTGlobal operates through a membership model that includes pension funds, asset management firms, and multinational corporations. Its research is made publicly available through reports and white papers.

FCLTGlobal

Founded	2016
Type	Non-profit organization
Focus	Long-term investment, Corporate governance
Location	Boston, Massachusetts, United States
Key people	Sarah Keohane Williamson (CEO)
Website	fcltglobal.org

History

FCLTGlobal originated from an initiative by CPP Investments (formerly CPPIB) and McKinsey & Company.^[1][2][3][4] In 2013, these organizations collaborated on a research project titled "Focusing Capital on the Long Term" to address concerns about short-termism in global financial markets. From that initiative, FCLTGlobal was formally established in 2016 as an independent non-profit organization by CPP Investments, McKinsey, BlackRock, Dow Chemical, and Tata Sons.^[5][6][7][8] Since its inception, the organization has grown to include member companies from across the globe, including major asset owners, asset managers, and multinational corporations. It has 501(c)3 status in the United States.^[9]

Activities and Research

FCLTGlobal conducts research on a range of issues related to long-term investing, corporate governance, and strategic decision-making.^[10][11][12] Its reports and frameworks are designed to address problems that the organization claims stem from short-termism, such as quarterly earnings pressures, investor activism, and market volatility.^{[13][14][15][16][17]}

The organization's 2017 report, The Corporate Horizon Index, attempts to measure a company’s short-term focus by looking at how much it invests, whether it uses accounting tactics to boost quarterly earnings, whether it engages in share buy-backs to boost earnings per share," among other criteria.^[18][19][20] The report claims that if all other firms had appreciated as fast as the "long-term" firms, “U.S. public equity markets could have added more than $1 trillion in incremental asset value from 2001 to 2014.” ^[21]

The organization has also developed tools like the FCLT Gold Standard, which provides guidelines for management teams to adopt long-term practices.^[22] The organization hosts events, including the annual FCLT Summit, which brings together corporate leaders, investors, and policymakers to discuss long-term value creation.^[23]

Membership

As of May 2025, FCLTGlobal's membership is composed of 64 companies and institutional investors from around the world. The members include asset owners, asset managers, and corporate entities. FCLTGlobal collaborates with these organizations to produce research and host events.^[24] Members include:

• CPP Investments
• BlackRock^[25]
• McKinsey & Company
• Votorantim Group
• Bain Capital^[26]
• Fidelity Investments^[27]
• Mastercard^[28]
• Washington State Investment Board^[29]
• Kering^[30]
• EQT^[31]
• APG Asset Management^[32]
• Norges Bank Investment Management^[32]
• Ontario Teachers' Pension Plan^[33]
• Temasek^[23]
• GIC^[34]

Governance

FCLTGlobal's board is composed of leaders from its member organizations. Current board members include Lei Zhang (Hillhouse Investment), Bob Sternfels (McKinsey) João Schmidt (Votorantim) and Carine Smith Ihenacho (Norges Bank Investment Management); past board members include Adena Friedman, Mark Wiseman, Peter Harrison, and Mark Machin.^[35][36][37] Sarah Keohane Williamson has served as the CEO of FCLTGlobal since its founding in 2016.^[5] Williamson is a former partner at Wellington Management and has frequently spoken about long-term thinking in corporate governance and investing.^[38] In 2024, FCLTGlobal appointed Eduard van Gelderen, former CEO of APG Asset Management and CIO of PSP Investments, as Senior Managing Director and Head of Research.^[39][40]