Laurence D. Fink, who runs BlackRock, has urged companies to adopt socially conscious practices. Winnie Au for The New York Times
We have no access to Mr. Fink’s motives or those of the firm he runs, or to how he and his colleagues make decisions–only to some of the actions they have taken. Our view on him and his firm may be simplistic, in that we respect their initial leadership on ESG but fault them now for not doing more. Even if they have only been virtue-signaling, and even if they fall short on true virtue, what they have done is obviously much better than those who are wrong on climate change:
Right-wing officials are attacking BlackRock for overstepping. Those on the left say the world’s biggest asset manager is not doing enough.
Environmental, social and governance — or E.S.G. — investing, “to some degree, is a smoke screen,” said Tariq Fancy, a former BlackRock executive. Chloe Ellingson for The New York Times
It was a clarion call to chief executives everywhere.
In 2018, Laurence D. Fink, the longtime chief executive of BlackRock, the world’s largest asset manager, urged corporate leaders to assess the societal impact of their businesses, embrace diversity and consider how climate change could affect long-term growth.
“Companies,” Mr. Fink wrote in his annual letter to chief executives, “must ask themselves: What role do we play in the community? How are we managing our impact on the environment? Are we working to create a diverse work force? Are we adapting to technological change?” Continue reading →
Like this:
Like Loading...
Organikos 