European corporate governance needs to give workers a voice to be truly sustainable. Global and European challenges such as the climate change or the digital transformation of the economy can be met only if societal stakeholders such as workers are adequately involved. This applies to the governance of companies, too. Companies with workers’ participation in boards have been proven to be more resilient to crisis and more adaptable to change.

Workers‘ voice must be part and parcel of the ‘just transition’ of the EU economy. European works councils can ensure that the effects of digitalisation and decarbonisation on decent work and incomes in the European single market are always taken into account. Only a strong social dimension in the European integration will make a just transition possible.

The Global Framework Agreement between UniCredit and UNI Global Union, including a joint declaration on responsible sales of financial products, shows that Workers‘ Voice is an important vehicle to represent not only workers but also consumers interests.

To create trust, companies have to be transparent in what they are doing and how they treat employees. Workers´ Voice, employee participation on boardroom level, efficiently safeguards this transparency. Therefore, many EU countries have national laws to ensure Workers´ Voice. But the EU is still lacking the necessary statuary framework.