BlackRock CEO Larry Fink: Within 5 years all investors will measure a company’s ESG performance to determine its worth (Business Insider, Nov. 2018)

“We’re trying to improve the performance of our clients,” Fink said at The New York Times DealBook Conference in New York on Thursday. He also predicted that in the near future, all investors will be using ESG (environmental, social, governance) metrics to determine the value of a company.

“I do believe that the demand for ESG is going to transform all investing,” he said, referring to both passive and active investors. “Now, that may be one or five years away from now, but it’s not that far away.”

BlackRock manages $6.4 trillion in assets, making it the world’s largest asset manager, and Fink’s letter has been a topic of conversation on Wall Street all year. He told host Andrew Ross Sorkin that what compelled him to write the call for purpose in the first place was an accumulation of proof that both customers and employees needed businesses to have a dimension of meaning beyond maximizing shareholder gains, and that social media spread perceptions of businesses more widely and faster than ever.

In October, BlackRock predicted that assets in ESG-focused exchange-traded funds (ETFs) would grow from $20 billion to more than $400 billion by 2028.

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