"The importance of serving stakeholders and embracing purpose is becoming increasingly central to the way that companies understand their role in society... a company cannot achieve long-term profits without embracing purpose and considering the needs of a broad range of stakeholders."
- Larry Fink, BlackRock CEO
This section includes signals that reflect the fundamental shift that is underway in our understanding of the role of corporations in society. Any venture operating in the private markets should be mindful of and prepared to operate in this context.
Understanding impact - the effect of a company's products, services, and actions on people, the environment, and society - is what allows a company to fulfill that broader role.
Larry Fink's 2020 Annual Letter to CEOs: A Fundamental Reshaping of Finance
Larry Fink's 2019 Letter to CEOs: Purpose and Profit
Business Roundtable - Statement on the Purpose of a Corporation