It plans to be voting against, by the way, boards and managements that don’t disclose their sustainability, their sustainability goals, the fossil fuels that are going to be screened out of – that are going to include target date, retirement programs.
LAURENCE FINK SERIES
In the letter, Fink writes, quote, “The evidence on climate risk is compelling investors to reassess core assumptions about modern finance.” He continues to say, quote, “In the near future – and sooner than most anticipate – there will be a significant reallocation of capital.”Īs the letter declines, BlackRock will make a series of changes, including: ‘Making sustainability integral to portfolio construction and risk management.’ It’s going to be ‘Exiting investments that present high sustainability-related risk.’ ‘Launching new investment products that screen fossil fuels’ and ‘Strengthening commitment to sustainability and transparency in investment stewardship activities.’ Did it with purpose over profit, if you remember, two years ago, which turned into the Business Round Table letter earlier last year and sort of dominated the conversation for so very long. And this is considered a water shed in the world of business, oftentimes changing the conversation and dialogue with these letters. Now, Fink’s annual letter as CEO is closely watched, of course. Laurence Douglas Fink, the Founder and CEO of BlackRock, the world’s largest asset manager with nearly 7 trillion dollars under management, announcing today that the firm will make investment decisions with environmental sustainability as its core throughout the firm.
LAURENCE FINK FULL
MD & Global Head of Investment Stewardshipįounder, MD, Global Head of Event Driven Equity Strategies & Portfolio Mang.Q4 2019 hedge fund letters, conferences and more BlackRock CEO Laurence Douglas Fink’s full interview on shifting strategy to focus on sustainabilityĪNDREW ROSS SORKIN: We have some major news that’s taking place in the world of business overnight. MD and Global Head of Technology & Operations Senior Managing Director, Head of Asia PacificĬhief Legal Officer, General Counsel, Senior Managing Director Senior Managing Director, Head of International and of Corporate Strategy Senior Managing Director, Global Head of Human Resources MD, COO & Global Head of BlackRock Solutions Senior Managing Director, Global Head of Multi-Asset Strategies and Global Fixed IncomeĬhief Financial Officer, Senior Managing Director
Senior Managing Director, Chief Client OfficerĬhief Operating Officer, Senior Managing Director, Global Head of BlackRock Solutions His extensive and specific knowledge of BlackRock and its business enable him to keep the Board apprised of the most significant developments impacting the Company and to guide the Board’s discussion and review of the Company’s strategy.īlackrock executives and other stock owners filed with the SEC include:Ĭhairman of the Board, Chief Executive Officer Fink brings exceptional leadership skills and in-depth understanding of BlackRock’s businesses, operations and strategy. As one of the founding principals and Chief Executive Officer of BlackRock since 1988, Mr.
Fink co-founded BlackRock in 1988, and under his leadership, the firm has grown into a global leader in investment management, risk management and advisory services for institutional and retail clients. He is responsible for senior leadership development and succession planning, defining and reinforcing BlackRock’s vision and culture, and engaging relationships with key strategic clients, industry leaders, regulators and policy makers. He also leads the firm’s Global Executive Committee. Fink is founder, Chairman and Chief Executive Officer of BlackRock. Fink serves as Chairman of the Board, Chief Executive Officer of the Company.
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