The Daily Can Corporations Stop Climate Change?
Feb 24, 2020
Andrew Ross Sorkin, a financial columnist for The New York Times, dives into why major corporations are ramping up climate change initiatives now. He discusses the impact of a pivotal letter from BlackRock's CEO urging a long-term outlook in business strategies. Sorkin examines whether these corporate commitments are genuinely meaningful or just clever public relations. He also contrasts different corporate approaches to sustainability, highlighting the complexities and potential of their promises in creating real environmental change.
AI Snips
Chapters
Transcript
Episode notes
Larry Fink's Influence
- Larry Fink, BlackRock's CEO, writes an influential annual letter to CEOs.
- In the past, his letters prompted companies to stop issuing quarterly guidance and focus on purpose.
Climate Change and Investing
- Fink's 2020 letter declared that climate change must be integral to investing.
- He warned of pulling money from companies not prioritizing sustainability.
Corporate Response
- After Fink's letter, many companies announced climate initiatives.
- Microsoft revealed a sweeping plan, coinciding with Fink's letter.