BlackRock boss Fink calls for company ESG revolution

'Every company must make a positive contribution to society'

BlackRock CEO Laurence Fink. Photo: Jolanda Flubacher/World Economic Forum/Creative Commons CC BY-NC-SA 2.0

BlackRock CEO Laurence Fink. Photo: Jolanda Flubacher/World Economic Forum/Creative Commons CC BY-NC-SA 2.0

BlackRock's CEO Laurence Fink has written a landmark letter to the world's largest listed firms warning they will only fulfil their potential if they have a "sense of purpose" when it comes to environmental, social and governance (ESG) issues.

The chief executive of the world's largest asset management firm, which manages almost $6trn in assets under management (AUM), yesterday wrote to large-cap bosses to call for a revolution in how they engage with shareholders and tackle ESG issues. The New York Times reported that Fink wrote to business leaders to warn they can no longer rely on the company's support if they fail to adequately explain their "social purpose". BlackRock adopts AI for China A-shares fund launch In an intervention that could mark a turning point in the long-running debate about corporate governance and ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment

Recession will be the main focus in Q3

How to invest in a recession

Mild recession already priced in

clock 11 August 2022 • 4 min read
All the latest from the world of ESG investing

ESG Blog: UN secretary urged governments to impose windfall tax on 'immoral' energy companies

Round-up of ESG coverage

Investment Week
clock 04 August 2022 • 1 min read
FCA also cracks down on high-risk investment adverts

FCA launches consultation to broaden access to LTAF

Tightens high-risk advertising rules

Jenna Brown
clock 01 August 2022 • 3 min read