The New York Post e-Edition

Fink: Woke? Who’s woke?

Thomas Barrabi

BlackRock CEO Larry Fink pushed back against criticism of the assetmanagement firm’s embrace of stakeholder capitalism, arguing the practice is not “woke,” but a necessity for long-term success.

Fink defended his stance in his widely read annual letter to CEOs.

BlackRock has faced backlash from conservatives who say the firm’s consideration of climate change in its investment strategy is a politically motivated effort to build goodwill.

“Stakeholder capitalism is not about politics. It is not a social or ideological agenda. It is not ‘woke,’ ” Fink wrote.

“It is capitalism, driven by mutually beneficial relationships between you and the employees, customers, suppliers, and communities your company relies on to prosper. This is the power of capitalism.”

BUSINESS

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2022-01-19T08:00:00.0000000Z

2022-01-19T08:00:00.0000000Z

https://nypost.pressreader.com/article/282192244357479

New York Post