Some word counts that may be of interest to BLPB readers (please check my work and let me know if I’ve gotten any of these wrong):
|
Letter |
“ESG” |
“stakeholder” |
“stakeholder capitalism” |
|
0 |
3 |
0 |
|
|
0 |
7 |
0 |
|
|
1 |
18 |
5 |
|
|
4 |
13 |
0 |
Compare word counts for “Wachtell Lipton Discusses Larry Fink’s [2023] Annual Letters to Investors“: “ESG” = 0; “stakeholder” = 6; “stakeholder capitalism” = 2.
Addendum: The Wachtell post notes that “[f]or more than ten years, Larry Fink, Chairman and CEO of BlackRock, the world’s largest asset manager, has published separate annual letters — one to CEOs and another to BlackRock’s shareholders. This year, Fink combined the two letters into one.”