Founder of investment firm BlackRock, Lawrence Fink has announced to many global powerhouse corporations that BlackRock will no longer receive support from said corporations unless they are shown to actively make strides towards social change. BlackRock’s $6 trillion in assets makes their heavy-handed demand quite doable, considering few want to lose that amount of support. Fink’s request, according to his letter, is based on a growing trend of society demanding big business to have a “social purpose”.
Rob Amberg, chief marketing officer at Jabian Consulting, discusses the importance of companies and investment firms like BlackRock to be “principle driven, metric focused.”
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