Society over shareholders, says Fink
By Teamspirit on Friday, 19 January 2018
BlackRock chief executive, Larry Fink, recently addressed FTSE 100 companies with a cautionary letter – make a positive contribution to society or risk losing support from stakeholders.
To prosper, Fink advises that every company must deliver not only financial performance but also serve a social purpose – without this sense of purpose, no public or private company will be able to achieve its full potential.
The CEOs are told they have an obligation to consider their long-term growth strategy, which can only be sustained through an understanding of broader structural changes such as slow wage growth, rising automation and climate change.
Strong words from the world’s biggest investor, and ones which resonate strongly with us at Teamspirit. Our own purpose, to transform the world of finance for the better, is something we believe in strongly. And if you’re interested in getting involved too, we’re the agency to talk with.
Find out more about the importance of making a positive contribution in FS from our Purpose in Action whitepaper here.