blackrock chief calls on ceos
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

to act for good of society

BlackRock chief calls on CEOs

Arab Today, arab today

Arab Today, arab today BlackRock chief calls on CEOs

BlackRock is the world's largest investor in publicly traded companies.
New York - Arab Today

The head of the world's largest asset manager, BlackRock, has called on corporate leaders to act for the betterment of society or risk losing the investment giant's support.

In a letter to chief executives, BlackRock CEO and co-founder Laurence Fink said companies that failed to set and pursue clear goals on the environment, workforce diversity and training and technological change would "ultimately lose the license to operate from key stakeholders."

With more than $6 trillion in assets under management, BlackRock is the world's largest investor in publicly held companies.

Fink's message may run counter to the views of companies in which BlackRock is invested and which believe their overriding goal is merely to deliver returns to investors.

Like other investment managers, BlackRock in the past has faced criticism for failing to hold corporate leaders to account on matters of corporate governance and hot-button social issues.

But, in a letter dated Friday, Fink said companies without a clearly articulated purpose would be vulnerable to short-term earnings pressures "and in the process sacrifice investments in employee development, innovation and capital expenditures that are necessary for long-term growth."

This would leave the companies exposed to more sharply articulated, if near-sighted, activist campaigns and ultimately harm results, he said.

To sustain performance, "you must also understand the societal impact of your business as well as the ways that broad, structural trends -- from slow wage growth to rising automation to climate change -- affect your potential for growth," Fink wrote.

"Companies must ask themselves: What role do we play in the community? How are we managing our impact on the environment? Are we working to create a diverse workforce? Are we adapting to technological change?"

BlackRock will double the size of its investment stewardship team over the next three years and directly engage with companies, favoring corporate boards that show greater ethnic and gender diversity as well as varied career experiences and perspectives among members, Fink said.

Source: AFP

arabstoday
arabstoday

GMT 07:55 2017 Saturday ,30 December

US tax reform to cut earnings by $5 bn

GMT 19:54 2017 Friday ,11 August

Credit Suisse bars trades on some Venezuelan bonds

GMT 12:11 2016 Friday ,02 December

To step aside, stay as chairman

GMT 11:51 2016 Saturday ,16 July

Barroso hire not related to Brexit

GMT 10:45 2016 Wednesday ,24 February

Touts output freeze, rules out cut
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

blackrock chief calls on ceos blackrock chief calls on ceos

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

blackrock chief calls on ceos blackrock chief calls on ceos

 



GMT 04:22 2017 Tuesday ,26 December

Israel in touch with '10 countries' over embassy moves

GMT 19:43 2017 Friday ,06 October

Employee safety top priority at Khalifa Port

GMT 16:19 2017 Friday ,28 April

ISIS Suspect Arrested in Western Germany

GMT 12:57 2017 Monday ,11 December

50 Students Poisoned by Contaminated Well Water

GMT 16:31 2017 Thursday ,10 August

Palestinians will discuss decline of aids

GMT 21:15 2017 Saturday ,04 March

Obama never ordered surveillance on any US citizen

GMT 10:00 2017 Thursday ,09 March

Russia ‘can be good friends with GCC’

GMT 02:13 2017 Wednesday ,22 February

Russian helicopter crash kills 19 in Siberia

GMT 13:23 2017 Tuesday ,05 December

Lebanon PM Hariri rescinds resignation

GMT 00:39 2017 Tuesday ,05 December

Gunmen kill cleric in Aden, southern Yemen

GMT 11:43 2016 Thursday ,24 November

Will learn from Euro exit

GMT 06:56 2017 Tuesday ,17 October

US ‘not taking sides’ between Iraqi forces, Kurds

GMT 19:59 2017 Thursday ,16 February

Syrian opposition's chief negotiator arrives in Astana

GMT 15:41 2017 Thursday ,29 June

US sets new visa rules for 6 mainly Muslim nations

GMT 19:31 2017 Saturday ,11 February

Earthquake Hits Taiwan

GMT 15:30 2017 Monday ,27 November

Syrian government will not join peace talks on Monday

GMT 16:20 2017 Tuesday ,31 October

La Rochelle survive red card to down Toulouse

GMT 20:33 2018 Tuesday ,16 January

Bahraini official receives UAE Ambassador

GMT 22:40 2018 Monday ,08 January

Bahrain to host first Baby Games
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday