Larry Fink: companies must make a ‘positive contribution’ to society
Larry Fink, chief executive of BlackRock, the world’s largest asset manager, says it will step up its engagement with boards in an effort to forge a “new model of shareholder engagement”.
Larry Fink, BlackRock. Photo: Shutterstock
Larry Fink, chief executive of BlackRock, the world's biggest asset manager, has said companies must make a "positive contribution to society" and benefit all of their stakeholders.
The views come in Fink's annual New Year letter to company leaders around the world and in the year BlackRock approaches its 30th anniversary year.
He said BlackRock would step up engagement, doubling the size of the asset manager's investment stewardship team over the next three years, and opening up engagement with index funds.
Fink said: "Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every c
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