Friday, January 19, 2018

World’s largest investment fund tells CEOs to get on sustainability bandwagon

Larry Fink, the head of Blackrock, the world’s largest investment fund, just put corporations on notice that they need to do a lot more for society and stop fixating on quarterly returns.

“To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society,” Fink said in a much cited letter to CEOs. “Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”
In a Deloitte Survey, fully 92% of the CEOs supported working toward the U.N. Sustainable Development Goals but only 17% already had work underway to address them by 2030.

Awareness precedes action. Now a very powerful individual is telling public companies to get their act together.

1 comment:

  1. Davos is buzzing about “Larry’s Letter,” split into three groups: Yes! Yes, but. Who the hell are you to tell us what to do?

    Everyone at Davos is talking about 'Larry's letter' - Business Insider