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BlackRock CEO Larry Fink pushed back against criticism of the a*set management firm’s embrace of stakeholder capitalism, arguing the practice is not “woke” but a necessity for long-term success.

Fink defended his stance in his widely-read annual letter to CEOs. BlackRock has faced backlash from conservatives who say the firm’s consideration of climate change in its investment strategy is a politically motivated effort to build goodwill.

“Stakeholder capitalism is not about politics. It is not a social or ideological agenda. It is not ‘woke,’” Fink wrote in the letter. “It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper. This is the power of capitalism.”

BlackRock is the world’s largest investment firm, managing a*sets worth more than $10 trillion as of this month. Under Fink’s leadership, the firm has increasingly urged major companies to embrace environmental, social and governance standards as part of their business models.

Fink’s insistence that companies work to cut carbon emissions to zero by 2050 is a source of particular concern among conservatives – especially in states with energy-driven economies.

“We focus on sustainability not because we’re environmentalists, but because we are capitalists and fiduciaries to our clients,” Fink added in his letter. “That requires understanding how companies are adjusting their businesses for the massive changes the economy is undergoing.”

Fink a*serted that companies shouldn’t cave to political pressure while considering policy.

“Political activists, or the media, may politicize things your company does,” he wrote. “They may hijack your brand to advance their own agendas. In this environment, facts themselves are frequently in dispute, but businesses have an opportunity to lead.”

Earlier this week, West Virginia Treasurer Riley Moore said the state would cut ties with BlackRock’s investment fund. In a release, Moore argued BlackRock’s net-zero energy policy would be harmful to the state’s economy and hypocritical given Fink’s decision to pour “billions in new capital into China” despite human rights violations.

Last year, Texas state lawmakers passed a bill that would bar state agencies from investing public funds with companies such as BlackRock that “boycott energy companies.”


Though Fink did not directly address a specific critic, he noted that businesses should not be the “climate police” or divest from entire sectors.

“BlackRock does not pursue divestment from oil and gas companies as a policy,” Fink said. “We do have some clients who choose to divest their a*sets while other clients reject that approach.”

Fink’s letter also included his view on pandemic-driven changes to the global economy, with a particularly focus on the labor market. Executives “face a profoundly different paradigm” while dealing with employees as quit rates surge during the “Great Resignation,” according to the BlackRock CEO.

“Companies expected workers to come to the office five days a week. Mental health was rarely discussed in the workplace. And wages for those on low and middle incomes barely grew,” Fink wrote. “That world is gone.”

“Companies expected workers to come to the office five days a week. Mental health was rarely discussed in the workplace. And wages for those on low and middle incomes barely grew,” Fink wrote. “That world is gone.”

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This dude is about money , he don't give af about how he gets his dough

Xiox said This dude is about money , he don't give af about how he gets his dough

he cares about what his investors care about

Xiox said This dude is about money , he don't give af about how he gets his dough

/thread

Sin said he cares about what his investors care about

Which is sir ?
Dude is a fukking capitalist

Xiox said Which is sir ? Dude is a fukking capitalist

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Capitalism is trash but I know this is bx where everybody rich.

Xiox said This dude is about money , he don't give af about how he gets his dough

Lol they really believe this guy cares about us. They’ll be in for an awakening when they learn about human capital futures. Guys like fink want to gamify life you will need to demonstrate digital compliance to “level up”.

Automation and global telepresence will lead to mass dispossession..bio surveillance…digital ID.

This mf is apart of the build back better plan,

Nemohoes95 said Capitalism is trash but I know this is bx where everybody rich.

Wall street is riddled with schemes

Nemohoes95 said Capitalism is trash but I know this is bx where everybody rich.

What would be better

LuxG2 said They can never answer that… I always ask them…if Socialism/Communism is so great what country is everyone moving to & why haven’t you moved there???

A hybrid of socialism and capitalism works better than either system on their own.

kami said Lol they really believe this guy cares about us. They’ll be in for an awakening when they learn about human capital futures. Guys like fink want to gamify life you will need to demonstrate digital compliance to “level up”. Automation and global telepresence will lead to mass dispossession..bio surveillance…digital ID. This mf is apart of the build back better plan,

This take is kind of interesting to me. And I see that sentiment toward rich people a lot around here. And not that I disagree with it but I'm trying to find some clarity in it. At what point do rich people lose their humanity and stop caring about other people? Is it a dollar amount? In this "hustler" society, at what point do you lose your humanity? At what point do I?

Xiox said Wall street is riddled with schemes

Pharmaceuticals and Utility companies run far more game but go off

Seeing a couple of posters who i agree with in this thread, I’m going to go ahead and accept that my opinion must be wrong and warped.

ChrisPartlowFro said Pharmaceuticals and Utility companies run far more game but go off

Bottom of the list how the fuk do they run up the stock price of Amazon ,Tesla , Pharmaceuticals & the war machines . Government officials put their family & friends on the governing bards that regulates the utilities

Tehuti said What would be better

There are many countries with a better quality of life for their average citizens, why not try adopting their policies?

postemupndunkit said There are many countries with a better quality of life for their average citizens, why not try adopting their policies?

Which countries are these? Have you ever lived in those countries?

What country do you live in now?

Tehuti said Which countries are these? Have you ever lived in those countries? What country do you live in now?

Man just Google stuff. The more you know the better. There's so much information about how workers get better treatment, citizens getting cheap Healthcare, cheaper and fair education, better rehab/prison system.

I live in Canada now, from Ohio tho

Xiox said Bottom of the list how the fuk do they run up the stock price of Amazon ,Tesla , Pharmaceuticals & the war machines . Government officials put their family & friends on the governing bards that regulates the utilities

My boy, a public company is in control of their stock price. I’d invite you to learn about Enron. It was due to them lying about their quarterly earnings and EPS they led to fraud. Those are numbers reported TO Wall Street.

Government officials do not “put people on boards” because Board members are voted on by shareholders…it’s in the Shareholder Agreements for these companies.

If you’re talking about Cheney or Rumsfeld…those dudes are wealthy before they’re politicians so none of that is unique to the Street. Which isn’t to say they aren’t scheming but just there are bigger crooks

I fu*ks with you too so don’t take this the wrong way.

ChrisPartlowFro said My boy, a public company is in control of their stock price. I’d invite you to learn about Enron. It was due to them lying about their quarterly earnings and EPS they led to fraud. Those are numbers reported TO Wall Street. Government officials do not “put people on boards” because Board members are voted on by shareholders…it’s in the Shareholder Agreements for these companies. If you’re talking about Cheney or Rumsfeld…those dudes are wealthy before they’re politicians so none of that is unique to the Street. Which isn’t to say they aren’t scheming but just there are bigger crooks I fu*ks with you too so don’t take this the wrong way.

Stop fooling yourself . You don't know shyte .

Commissioners
The Colorado Public Utilities Commission (PUC) consists of three appointed Commissioners. The Governor appoints the Commissioners who are then confirmed by the Senate. See Statutory Authority about appointments and
The governor of the state appoints the commission members in every state or common wealth

LuxG2 said They can never answer that… I always ask them…if Socialism/Communism is so great what country is everyone moving to & why haven’t you moved there???

That's a silly line of questioning, and shows that you probably haven't traveled or lived outside of the U.S. No one here says that communism is great, but if you look at the countries with the best quality of life, they all have aspects of socialism (especially when it comes to higher education and healthcare) AND capitalism. There is a reason the US lags behind in so many key metrics and why the wealth and income gap is as wide as ever.

I hope I don't need to explain why everyone who challenges aspects of their home country can't just simply up and move elsewhere.....

Xiox said Stop fooling yourself . You don't know shyte . Commissioners The Colorado Public Utilities Commission (PUC) consists of three appointed Commissioners. The Governor appoints the Commissioners who are then confirmed by the Senate. See Statutory Authority about appointments and

Bro it's Sunday morning, can we have some proper decorum ? It's just an exchange of info b

This thread is so fu*ked. Iykyk, Blackrock is positioning itself to be the capitalist behemoth which will help bring about global communism.... And people are in here arguing about capitalism vs communism.

If you're a capitalist sucking off Blackrock...

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The poorest countries in the world ...

All socialist....


Edit: wait, they're not.