“Larry Fink’s letter says more about today’s toxic political environment than it does about Blackrock or the ongoing commitment to corporate and environmental impact in boardrooms across the globe,” said Carolyn Berkowitz, president and CEO of ACCP
Fairfax, VA – Carolyn Berkowitz, president and CEO of the Association of Corporate Citizenship Professionals (ACCP), the nation’s leading advocate for corporate social impact professionals, released the following statement in response to Blackrock CEO Larry Fink’s letter to investors and chief executives:
“Larry Fink’s letter says more about today’s toxic political environment than it does about Blackrock or the ongoing commitment to corporate and environmental impact in boardrooms across the globe. A recent KPMG survey of U.S. CEOs found that 70 percent said their ESG programs improved their financial performance.
“As the leading advocate for corporate social impact professionals, the frontline practitioners in the field of corporate social responsibility, the reality on the ground is that the value of their work has never been more important to their stakeholders – employees, customers, investors, and the communities in which they operate – and the long-term success of companies.”
From the KPMG report: “With the potential recession testing CEOs’ commitment to their ESG strategies, reducing investment may lead to long-term financial risks. This test comes at a time when CEOs have made significant strides in tying ESG to profitability, with 70% of U.S. CEOs saying that ESG improves financial performance, compared to 37% last year.”
