Case
BlackRock: 'Purpose & Profit' letter to CEOs (2019)
A major investor stated publicly that companies need a social purpose for long-term sustainability, which is a useful point of contrast with the empirical objections to ESG.
- Industry
- Asset management
Frameworks applied
This case is read through the frameworks below.
- Shareholder, stakeholder and market-failures viewsWhen a safety or environmental decision sets profit against the interests of staff or the community, do executives owe their duty first to shareholders or to all stakeholders?
- Evidence check for 'doing good pays' claimsWhen a CEO is pitched an ESG, diversity or CSR programme on the grounds that "doing good pays", does the evidence show it raises profit or only a correlation?
Sources
References
Listed A–Z by author surname, Harvard style. A source with a DOI links to https://doi.org/…; one without links to its page or says plainly that it has no DOI.
- Fink, L. (2019) Larry Fink's 2019 letter to CEOs: purpose & profit.No DOIblackrock.comSource page