“A company cannot achieve long-term profits without embracing purpose and considering the needs of a broad range of stakeholders.”
-Larry Fink, BlackRock
He did it again. This time head-on. In his 2020 letter to CEOs, Larry Fink projected the voices of a broad range of stakeholders and not just those who own stock. His letter reflected a situation that exists across the full spectrum of stakeholders, including the workforce, local communities, and the larger global society. The call to action is strong and direct. Fink’s message? We are on the edge of a fundamental reshaping of finance – a system more focused on all stakeholders. In the letter, Fink claims that BlackRock will take fiduciary responsibility for helping clients navigate this transition.
