L.arry Fink, head of the world’s largest fund company, starts every new year with a letter. Contrary to what one might think, this is not a private matter for the Blackrock CEO, whose company manages the unimaginable sum of around 7,800 billion dollars. No, Fink’s annual letter is public and addressed to the CEOs of the world’s major corporations. Fink himself would probably call the ideas contained therein food for thought. But he also loves the publicity that comes with it. At best, it’s free advertising for his house.
Probably only Fink himself knows what he will do on the subject of his next letter in 2021. But if he is only halfway able to determine the debate as it did this year, the Blackrock boss should be satisfied. Sure, Corona covered everything in 2020. But at least in the financial world, next to the pandemic, hardly any other debate was as influential as that triggered by Fink: “Climate change has become a decisive factor for the long-term prospects of companies,” he wrote. He warned the CEOs that sustainability is to be made an essential part of portfolio construction in the future.