BlackRock and DealBook

Doubly nice shout-out today in Andrew Ross Sorkin’s DealBook column in the NY Times  http://nyti.ms/1nJyHdG.  Sorkin wrote about BlackRock’s CEO Laurence D. Fink letter to 500 chief executives urging them to stop providing quarterly earnings estimates and provide “a strategic framework for long-term value creation.”  Sorkin then goes on and notes:

Mr. Fink is also pushing for companies to consider environmental, social and governance issues “ranging from climate change to diversity to board effectiveness.” These issues have long been an afterthought for most companies, and in particular, for investors, who have simply sought companies that deliver the highest returns.

“These issues offer both risks and opportunities, but for too long, companies have not considered them core to their business — even when the world’s political leaders are increasingly focused on them, as demonstrated by the Paris climate accord,” Mr. Fink wrote.

Ladies and gentlemen, when the world’s largest investor, with more than $4.6 trillion in assets under management, joins in our voices, we must surely be turning the tide.  To have this reported by a column that I have not always found to be receptive to SRI, this is doubly sweet. Beauty!

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