BlackRock boss Fink calls for company ESG revolution

'Every company must make a positive contribution to society'

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

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