Green Is Good.  BlackRock CEO Says The Next 1,000 Unicorns Won’t Be Search Engines Or Social Media Companies. 

Larry Fink has clout. The CEO of the investment corporation BlackRock manages $10 trillion, so when he talks, people listen. 

And once a year, he sends out his annual letter to CEOs, and business leaders were excited to see what his 2022 message would be. 

In a nutshell, he broke down his interpretation of capitalism in the current world environment, and he made it clear that he believes businesses need to play their role in fighting the climate crisis. 

He made a point to illustrate that the big money will be in companies concerned about the environment.  Fink said that the next 1,000 unicorns (startups with a valuation north of $1 billion) would not be social media companies or search engines. According to Fink, future unicorns will be companies “that help the world decarbonize and make the energy transition affordable for all consumers.”

Here’s more of Fink’s 2022 message. 

“We need to be honest about the fact that green products often come at a higher cost today. Bringing down this green premium will be essential for an orderly and just transition. With the unprecedented amount of capital looking for new ideas, incumbents need to be clear about their pathway succeeding in a net zero economy. And it’s not just startups that can and will disrupt industries. Bold incumbents can and must do it too.”

Here is an excerpt from Fink’s letter regarding his definition of capitalism. 

“Capitalism has the power to shape society and act as a powerful catalyst for change. But businesses can’t do this alone, and they cannot be the climate police. That will not be a good outcome for society. We need governments to provide clear pathways and a consistent taxonomy for sustainability policy, regulation, and disclosure across markets.”

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.