US EditionBlackRock departs climate investment group
- BlackRock has decided to leave the Net Zero Asset Managers Initiative, which aims to support the asset management industry in committing to a goal of net zero emissions.
- BlackRock's exit follows increased pressure from Republican politicians and states regarding its funding practices for fossil fuel projects.
- BlackRock's Vice Chairman stated that membership in the initiative caused confusion about BlackRock's practices and led to legal inquiries from public officials.
- Major banks, including Goldman Sachs and JP Morgan, have also exited similar climate finance alliances recently.
74 Articles
74 Articles
The American giant has left the Net zero asset managers initiative, following the example of Goldman Sachs, Wells Fargo, Citi, Bank of America, Morgan Stanley and J.P. Morgan. Practically, only European groups will remain to support the green revolution. Apart from everyone. The battle over the climate is losing pieces and co...
Huge banks are bailing on a Mark Carney climate initiative
All major U.S. banks have quit a climate initiative known as the Net-Zero Banking Alliance. Formed in 2021 as a subgroup of a Mark Carney-led climate finance group, it now faces an uncertain future, even as Canadian and European banks remain for now.
BlackRock, the world's largest investment fund, has announced that it withdraws on its own initiative from the "Net Zero Asset Managers" program, the UN-sponsored initiative to support the goal of zeroing carbon emissions by 2050.This decision, taken by the $10 billion fund, was communicated in a letter to its customers and reflects the growing pressure on large corporations to abandon progressive corporate policies.In its letter, the fund argue…
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