The assets clients have entrusted to us are mostly invested for long-term goals such as retirement. As a fiduciary, BlackRock engages with companies to drive the sustainable, long-term growth that our clients need to meet their goals. . . . Since the financial crisis, those with capital have reaped enormous benefits. At the same time, many individuals across the world are facing . . . low wage growth, and the prospect of a secure retirement is slipping further and further away. I believe these trends are a major source of the anxiety and polarization that we see across the world today. We also see many governments failing to prepare for the future[.] As a result, society increasingly is turning to the private sector and asking that companies respond to broader societal challenges. . . . Society is demanding that companies . . . serve a social purpose. 

Question 

Recall the question asked earlier in this section: “How do you think Prof. Friedman would have responded to the following statement by a critic of Western capitalism: ’The great corporations of the world must take dramatic action immediately to mitigate climate change?’” What rejoinder would Mr. Fink likely make to Dr. Friedman’s answer? Explain.