Two days ago the NY Times reported of a letter that has been sent out to executives from the world’s largest corporations by Blackrock with a clear sustainability message. Blackrock is a US-based investment firm managing over 6 trillion USD in investments around the world. Calling on those CEO’s Blackrock will inform them that their companies need to more than make profits. They need to start contributing to society as well if they want to keep the support of Blackrock. This is a very clear message that in this form is unprecedented!
A clear sustainability message for everyone to understand
This clear sustainability message from Blackrock is impressive. More needs to be done of course. But this is a statement that will make CEO’s look up from their busy lives. It hopefully will remind them that is more to the never-ending hunt for the best profits and profitability. It will be interesting to see what the reactions will be once the media attention for this type of news has hit a new high. This is a very welcomed message by Blackrock. To me is seems that the current corporate Trump-America is thriving on short-termism and prioritizes looking inwards rather than be outward-looking. This is not the way we can look at our common global future. And I think Blackrock has realized that too. If they want to stay a leader in this business field they need to start demanding higher social and sustainability standards. If not others do and they will loose their current market position. This point of view is very much in line with my thinking about what relationship Sustainability and Business have.
Now is the time to speak up
This news item and the lethargy of the US to create governmental change also reinforces a trend I am seeing at the moment. The trend to not be silent anymore. For corporations, influencers and normal people to speak up and not take everything in a stride that governments have planned for them. I am trying to do this writing this blog and promoting sustainability via social media. I am sure you have a possibility to do your bit too!
For today let’s be supportive of Blackrock. Let us share this very welcomed clear sustainability message to global corporations and remind them that next to profits a contribution to society is also their corporate responsibility.