Larry Fink’s 2022 Letter to CEOs: The Power of Capitalism “Every company and every industry will be transformed by the transition to a net zero world. The question is, will you lead, or will you be led?” Key takeaways: Employees everywhere are searching for more meaningful and flexible work. Additionally, the pandemic brought issues such…
The days of the internal combustion engine are numbered. General Motors announced that it would phase out petroleum-powered cars and trucks, selling only vehicles that have zero tailpipe emissions by 2035.
The announcement is likely to put pressure on automakers around the world to make similar commitments. It could also embolden President Biden and other elected officials to push for even more aggressive policies to fight climate change.
Leaders could point to G.M.’s decision as evidence that even big businesses have decided that it is time for the world to begin to transition away from fossil fuels that have powered the global economy for more than a century.
What do you think about G.M.’s new mission?