Abe M. Friedman is Chief Executive Officer of CamberView Partners, LLC. This post is based on a CamberView publication by Mr. Friedman, Krystal Gaboury Berrini, Christopher A. Wightman, and Rob Zivnuska. Related research from the Program on Corporate Governance includes Social Responsibility Resolutions by Scott Hirst (discussed on the Forum here).
On Tuesday, January 16th, BlackRock Chairman and CEO Laurence Fink released his annual letter to CEOs outlining a bold vision linking the prosperity of companies to their ability to deliver both financial performance as well as positive contributions to society. Entitled “A Sense of Purpose,” the letter highlights BlackRock’s increasingly active approach to shareholder engagement, its view that boards are central in the oversight of companies’ long-term strategic direction and what Mr. Fink believes is a connection between companies’ management of environmental, social and governance (ESG) risk factors and long-term value creation.