This graphic produced by Bloomberg from the article in the url below is both interesting and frustrating:
It is interesting and frustrating for the same reason – because it reveals a superficial commitment to something that needs to be sustained and genuine. Fink had built a reputation for himself as someone who is committed to the sustainability cause. The chart reveals a superficiality to that commitment. I am all in favor of revealing the lack of thought that is invested in the latest term or acronym that gets the mainstream CSR conversation excited, but this very much suggests Fink is a victim of that superficiality, rather than having thought through what he was saying, and/or his and his company's ability to implement:
"[Larry Finnk's] 2020 letter mentions terms like climate, ESG and sustainability 46 times. But executives changed their tune after Texas and other US states launched attacks and legal action on the investment management company. 'Larry Fink used to talk quite a bit (in fairly short letters) about climate, sustainability, and ESG. … Now he does not.'"
Either way, it is another step backwards, when we need to be moving forward.
Take care
David
David Chandler
© Sage Publications, 2023
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Wild Cards for the Green Transition
By Aaron Clark
February 3, 2025
Bloomberg
