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Word to the Wise from BlackRock CEO Larry Fink

Post by Nancy E. Roman, President and CEO, PHA (@nancyroman1)


Larry Fink, chairman and CEO of BlackRock, puts 'CEOs on high alert' by saying corporate companies must make a positive contribution to society, according to the Washington Post.

Laurence Fink, the chairman and CEO of BlackRock. Mark Lennihan/AP Photo

Larry Fink is an inspiration.

His recent call on corporate America to have a “positive impact on society,” is spot on. The BlackRock CEO sent more than a thousand letters to CEOs of public companies across the globe urging them to take their responsibility to society and their respective companies seriously, saying,

“Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.”

Not only do I agree, but I have a solution.

When corporate America is flush with cash owing to the recently passed tax cuts, it inspires me to call on food companies across the supply chain to devote more time and attention to social good. Accordingly, we call on all food companies – manufacturers, suppliers, distributors, and retailers, to devote a portion of their corporate tax savings to improving the food supply.

That could mean:

  • Working to take added sugar out of product;
  • Working to remove unnecessary sodium;
  • Working to reduce saturated fat;
  • Removing unnecessary chemicals; or,
  • Marketing healthier options.

Any of these shifts will put companies in line with the consumer, who wants to eat better and needs help doing so.

I’ve talked about the power and responsibility that businesses have, especially with the food supply. That is why we, at PHA, work with companies like Mars Inc., Sodexo, and PepsiCo to create systemic changes with real, tangible results.

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