(Bloomberg) — Warren Buffett built a rare excerpt into his much-awaited annual letter: A note from Greg Abel, his successor-in-chief at Berkshire Hathaway Inc.
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Abel, who was publicly identified as the successor to America’s most renowned investor for the first time last year, was tasked in Berkshire’s annual report Saturday with giving a breakdown of the firm’s sustainability endeavors — a sign of the topic’s rising importance to the conglomerate and its shareholders.
Buffett, who has faced mounting pressure on environmental issues over the years, typically navigates the topic by referring back to Berkshire’s operating model, where each company has individual responsibility for how it addresses such risks. Abel’s letter marks one of the most comprehensive explanations of the firm’s environmental strategy in a Berkshire annual report yet, while…
