Tag: stakeholder capitalism

Larry Fink puts focus on finance and inflation
Although BlackRock’s CEO does not mention the term ‘ESG’ in his annual letter, he highlights the investment risks posed by climate change.

What’s a company for? Milton Friedman responds
The ongoing lively debate about corporate purpose has caused me to reflect further on the dialogue between Milton Friedman and Socrates…

News round-up: this week in governance
FTSE removes four Russian firms; LGIM warns on diversity; EU wants more women directors; and audit committees’ climate concerns.

BP and Shell windfall tax row reveals lack of progress on purpose
Claim that windfall tax would hurt clean energy investment shows the change in mentality towards purposeful business isn’t taking root.

Stakeholder capitalism ‘won’t work’—but investors need to do more
London Business School/Investor Forum report backs the shareholder model, but urges investors to take responsibility for stakeholder issues.

BlackRock CEO letter: stakeholderism ‘is not woke’, it’s capitalism
Larry Fink declares stakeholder governance is not an “ideological agenda” but “capitalism, driven by mutually beneficial relationships”.

US senator Marco Rubio: ‘woke corporations’ could breach fiduciary duty
Rubio has proposed new legislation allowing shareholders to bring legal action against directors over “political conflicts of interest”.

Academic warns that ‘good’ corporations are bad for democracy
So called ‘good’ corporations have “not actually changed, at least not in terms of their legal mandates”, claims Joel Bakan.

US corporates ‘should do more’ to help environment and low-paid workers
Respondents to a recent US poll say a more “evolved” form of capitalism is needed to better reflect the interests of stakeholders.

Business Roundtable stakeholder statement ‘mostly for show’, says study
Harvard researchers say signatories have made few changes in company documents that indicate a corporate purpose favouring stakeholders.