Larry Fink says BlackRock ‘isn’t perfect.’ These new incentives could help

CNN | Apr 7, 2021 at 6:11 PM
  • London (CNN Business)The world’s largest asset manager could soon be paying less to borrow money if it meets diversity goals and boosts its sustainable investing.
  • BlackRock has for the first time linked the cost of tapping bank lending to three metrics: how many women are in senior roles, Black and Latino employment, and how much it invests in assets that benefit society and the environment.
  • It will need to meet at least two of its three objectives and cannot “meaningfully underperform” on the third in order for a pricing benefit to kick in.