Here are three things people are talking about in the market this week.
All about the money? Fink again
BlackRock CEO Larry Fink's letter represents a turning point for asset managers. It's no longer enough to pursue profit alone. Social good has to be a part of the equation and is in the best interest of employees, investors and shareholders.
Read more about it here:
What it means for you: Companies are newly motivated to act responsibly. BlackRock and Vanguard are holding most of the cards, it’s in everyone’s best interest to fall in line. Socially minded businesses are more likely to prosper long term and it’s finally being brought to the world's attention.
Looking for a Prime location
Amazon narrowed down its choices for a second headquarters. There are 20 cities in the running and they all have their pluses and minuses. For example, my personal fave, Pittsburgh, and its tiny population would be dwarfed by the retail giant.
Read more about it here.
What it means for you: If you live in one of these 20 cities, it’s about to get wild. Pay attention to what bills your local politicians are passing in regard to tax breaks, zoning, and infrastructure.
It’s getting hot in here
2017 was one of the hottest years on record. The findings "continue the planet's long-term warming trend," according to NASA. A trend that is driven predominantly by human activity through carbon dioxide emissions.
Read more about it here.
What it means for you: When you consider the biodiversity loss, negative impacts on animal and human life, and the financial costs ($306 billion in damages in the US alone), the continued uptick of extreme weather events and wildfires over the past few years, it continues to be clear: We need to do better. Industries are more motivated than ever to build solutions to pressing issues. Little moves add up, you can make a tiny difference in your everyday life – but it’s really up to big companies to take charge and make change.
