A Sense of Purpose

“….society increasingly is turning to the private sector and asking that companies respond to broader societal challenges. Indeed, the public expectations of your company have never been greater. Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”

The Chairman and CEO of BlackRock, Mr. Larry Fink in his 2018 letter addressed to CEOs of public companies, outlined his expectation that they start accounting for their effect on society.   He indicated that BlackRock is doubling the size of its investor-stewardship program, which aims to engage with companies, rather than rely on proxy voting.

BlackRock has more than $6.2 trillion under management and is trusted to manage more money than any other investment manager in the world.

Read the full letter here >>>>>