![]() Why it matters: BlackRock is the world’s biggest money manager, ending last year with more than $10 trillion under management. “Any plan that focuses solely on limiting supply and fails to address demand for hydrocarbons will drive up energy prices for those who can least afford it, resulting in greater polarization around climate change and eroding progress,” Fink said. Plus, “governments and companies must ensure that people continue to have access to reliable and affordable energy sources,” he added. “Your company’s purpose is its north star in this tumultuous environment.”įink said that BlackRock does not advocate for widespread divestment from oil and gas companies, since there are firms in the industry making changes that will be essential to achieve net-zero emissions. ![]() “It’s never been more essential for CEOs to have a consistent voice, a clear purpose, a coherent strategy and a long-term view,” Fink wrote. He also said it’s crucial that leaders take a stand on issues important to employees and customers. “It is capitalism.”įink said companies need to set short, medium and long-term targets to reduce greenhouse gas emissions because doing so is “critical to the long-term economic interests” of shareholders. “It is not a social or ideological agenda. The push for companies to reassess their priorities is “not about politics,” he said. In his latest letter to CEOs published Tuesday, Fink has issued a response that amounts to: I’m just a capitalist. Others on the left say he isn’t going far enough. Some on the political right claim Fink goes too far in telling businesses to be socially and environmentally conscious. P.(BLK) CEO Larry Fink, one of the most powerful people in global finance, pens a letter to chief executives that’s required reading for business leaders.įink’s insistence that companies need to disclose more about their climate plans and seriously consider their role in society has helped change what’s expected of Corporate America. Harvard Business School, Valeant Pharmaceuticals International ![]() Robin Hood Foundation, Pershing Square Capital Management L. People with positions in the same orgs as William Ackman Person His father is a New York-based real estate investor, and a member of the board of the New York Philharmonic.īill’s board memberships include Chairman of The Howard Hughes Corporation (NYSE: HHC), Canadian Pacific Railway Limited (NYSE: CP), and the Board of Dean’s Advisors of the Harvard Business School. His mother is a member of the board of Lincoln Center in New York. He is the son of Ronnie Posner Ackman and Lawrence David Ackman of New York. He is also the founder of the Pershing Square Foundation, a charitable venture that has provided more than $400 million in grants since 2006. Bill received an MBA from the Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College. Prior to Gotham Partners, Bill began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Prior to forming PSCM, Bill co-founded Gotham Partners Management Co., LLC, an investment adviser that managed public and private equity hedge fund portfolios. ![]() ![]() PSCM is a concentrated research-intensive fundamental value investor in long and occasionally short investments in the public markets. (PSCM), an SEC registered investment adviser founded in 2003. Bill is the CEO and Portfolio Manager of Pershing Square Capital Management, L.P. ![]()
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