The most heavily scrutinized CEO letter arrived this week.
BlackRock’s annual note from CEO Larry Fink highlighted issues such as climate change, human capital management and purpose. Fast Company’s Tim Mohin analyzed the letter and noted several key takeaways. Among them: climate change will drive companies to adopt carbon-neutral business strategies, which will in turn help contain the pace of the earth’s warming and reach the net-zero goal by 2050; the importance of using data to measure carbon and also standardize ESG disclosures; and that business leaders must continue to focus on the “S” in ESG to promote equality, inside and outside of the workplace.
In activism news, Exxon Mobil is said to be planning to make changes to its board and implement measures to lower its carbon footprint amid pressure from activist investors, the Wall Street Journal reported. Both D.E. Shaw and newly formed Engine No. 1 have held talks with the company about the makeup of the board. Engine No. 1, meanwhile, is pursuing a proxy fight.
This time of year, world leaders usually gather in Davos, Switzerland, to engage in discussions around the world’s most pressing issues, but as with most things, COVID-19 has made it virtual. TIME sat down with Davos VIP delegates, including singer-songwriter Angelique Kidjo and PayPal CEO Dan Schulman to discuss their solutions to world problems. Among the issues discussed were closing the financial gender gap in Africa, turning school meals into the backbone of a green economy and creating an economy that works for everyone.
Have a great weekend,