Finance
BlackRock CEO Says Stakeholder Capitalism Isn’t ‘Woke’
- ‘We are capitalists,’ not environmentalists, Fink writes
- BlackRock won’t pursue divestment from oil and gas as strategy
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BlackRock Inc. Chief Executive Officer Larry Fink warned that companies will be left behind if they don’t embrace sustainable business practices, hitting back at critics who say that considering environmental impact in investing decisions is a politically motivated fad.
“Stakeholder capitalism is not about politics,” Fink wrote in his annual letter to CEOs. “It is not a social or ideological agenda. It is not ‘woke.’”