“A company must not only produce financial results but also put itself at the service of the common good”. Simple words, but that have a certain effect when spoken by Blackrock, the largest investment fund in the world with its 6.000 billion dollars under management. A money machine, which however, like every beginning of the year, has sent a letter to each of the American companies in which it is a shareholder, advising them to better communicate their strategies and to devote themselves not only to profit.
“To thrive over time – reads the letter – any company must not only produce financial results but also explain how it intends to make a positive contribution to society. Companies must benefit shareholders, employees, customers and the entire community within which they operate. And they must take care of their social impact, showing attention to major current issues such as low wages, automated work, climate change. Factors that could weaken their growth potential,” says Blackrock.
To achieve this objective, Blackrock also suggests "talking to shareholders throughout the year, and not just at meetings". To foster this dialogue, the fund has decided to invest more time and more resources: over the next three years, the governance team will double its staff from 31 to 60. It will deal directly with them Barbara Novick, Vice President and Co-Founder of BlackRock.
