The weakness of purpose and the shift to problem-solving

A man with purpose and a direct approach to problemsBlackRock is one of the largest asset management companies on the planet. Each year, at the start of January, the CEO Larry Fink writes a letter addressed to the other CEOs of the world. In his New Year’s letter for 2020, Fink appealed in particular to his fellow CEOs’ sense of social responsibility. In particular, he focused in on the risks faced by the climate. “Climate risk is an investment risk,” and he called on all companies, both public and private, to create greater societal added value. “Society is looking increasingly to companies to solve social and economic problems,” he concludes, so asset managers should be encouraged to invest in companies with a ‘purpose’. More →