Blackrock to CEOs: Show us Your Social Actions
In his 2018 letter to CEOs, Larry Fink, Blackrock’s Chairman and CEO, tells them to prepare for year-round engagement from Blackrock. With stocks continuing to climb, while employees see stagnant wages and have concerns for their retirement, Fink tells companies they must do more than drive quarterly earnings. He begins by asking each company to share their strategic framework for long-term growth and concluded by telling companies they
Larry Fink, CEO Blackrock
“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 workforce? Are we adapting to technological change? Are we providing the retraining and opportunities that our employees and our business will need to adjust to an increasingly automated world? Are we using behavioral finance and other tools to prepare workers for retirement, so that they invest in a way that will help them achieve their goals?”
Blackrock is backing up their request by doubling the size of their investment stewardship team over the next 3 years.
Originally published at Dwayne Nesmith.