New initiative: Fink has advocated governance reforms in annual letters to other CEOs. – Reuters
BOSTON: BlackRock Inc, which wields outsized clout as the world’s largest asset manager, planned to put new pressure on companies to explain themselves on issues including how climate change could affect their business as well as boardroom diversity.
The move by BlackRock, a powerful force in Corporate America with US$5.1 trillion under management, could bolster efforts like climate-risk disclosure practices developed by the Financial Stability Board, the international body that monitors and makes recommendations about the global financial system.
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