BlackRock CEO letter issues warning on sustainability disclosures
Larry Fink says BlackRock will be “increasingly disposed to vote against management and board directors” who do not show progress on sustainability.
Image: Michael Vi/Shutterstock
Boards and directors have been placed on notice that the world’s biggest fund manager will vote against if they fail to adapt to making sustainability disclosures.
The warning to act or lose the support of a key investors comes from Larry Fink, chief executive of BlackRock, in his annual letter, now an institution in the investment world.
Fink’s letter is almost entirely focused on sustainability and climate change. He wants investee companies to embrace “purpose’ to serve stakeholders, while also adopting the right kind of reporting standards to ensure they disclose work on sustainability and climate risks.
“Given the grou
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