BlackRock's Larry Fink calls on CEOs to harness 'power' of stakeholder capitalism in new world of work 'redefined' by the pandemic

Center for Stakeholder Capitalism

clock • 3 min read

BlackRock CEO Larry Fink has called on CEOs to have “a consistent voice” and “a clear purpose”, given that the pandemic has “redefined” the relationship between a company, its employees and society, but rejected the idea that stakeholder capitalism is about being “woke”.

In his annual letter to the CEOs of the companies BlackRock's clients are invested in, titled ‘The Power of Capitalism', Fink wrote: "In today's globally interconnected world, a company must create value for and be valued by its full range of stakeholders in order to deliver long-term value for its shareholders. "It is through effective stakeholder capitalism that capital is efficiently allocated, companies achieve durable profitability, and value is created and sustained over the long term." But he said that stakeholder capitalism is not about politics, nor is it a social or ideologi...

To continue reading this article...

Join Investment Week for free

  • 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