Larry Fink’s Letter to CEOs Says Stakeholder Capitalism Is Not ‘Woke’ – The New York Times

https://www.nytimes.com/2022/01/17/business/dealbook/larry-fink-blackrock-letter.html

“Laurence D. Fink, the founder and chief executive of the investment giant BlackRock, has become one of the most influential voices in business over the past decade in pushing corporate leaders to think beyond profits, to their social purpose.

Mr. Fink has delivered his words in annual letters that have drawn remarkable attention, but also criticism from all corners: that he is beholden to politically correct antibusiness activists, or that he is co-opting these issues for marketing purposes.

On Monday night, he used his latest letter to corporate America to clarify — and defend — his approach.

“Stakeholder capitalism is not about politics,” Mr. Fink wrote to the chief executives of businesses that BlackRock has invested in. “It is not ‘woke.’ It is capitalism.” “

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