He called out the importance of GHG target setting, specifically noting BlackRock’s request for short-, medium-, and long-term GHG emissions reduction targets. Fink used his renowned annual communication to reiterate BlackRock’s continued desire for climate risk reporting aligned with the TCFD framework. TCFD-aligned reporting is still very much the expectation.
This includes how companies are ensuring the appropriate level of board oversight in this area.Ģ.
#Blackrock letter series
Fink ended the human capital management discussion by posing a series of related questions for which CEOs may want to begin preparing answers.
For its part, BlackRock will work to understand how the evolving employee/employer relationship is impacting companies and the steps companies are taking to adapt. In an environment where greater employment mobility means employees have options for finding companies more aligned with their individual purpose and values, the BlackRock CEO advises his peers to tune into “the new world of work.” He recommended considering how emerging “S” issues like mental health and workplace flexibility relate to turnover and quit rates. Fink pointed to employee turnover as a human capital management effectiveness metric that CEOs must address. The issue of human capital management received the most specific focus in this year’s letter and the commentary around it has the most notable sense of urgency. The relationship between employers and employees is changing and human capital management must be proactively addressed Here’s our take on the letter and its most important messages for the companies we serve. The chairman’s comments on the limitations of fossil fuel divestment, TCFD-aligned reporting, capital accessibility, and proxy voting policies are just a few of the topics that stood out to us. While this statement is currently commandeering the headlines, there’s much more packed into the prose that’s worth noting. Fink’s claim that stakeholder capitalism is not “woke.” The 10 th in his series, and the longest thus far, the letter is getting plenty of attention, particularly for Mr. On Monday, BlackRock’s CEO published his 2022 letter to CEOs, The Power of Capitalism.
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