BlackRock, the world’s largest asset-management company, invests a colossal $6 trillion on behalf of its clients.
And in his latest annual letter to chief executives, Larry Fink – BlackRock’s own CEO – emphasized the importance not of esoteric fiscal regulations or exciting new investment vehicles.
Instead, he cited the need for today’s companies to embody a clear social purpose.
“Society is demanding that companies, both public and private, serve a social purpose,” Fink wrote. “Without a sense of purpose, no company, either public or private, can achieve its full potential. It will ultimately lose the license to operate from key...