Major American Financial Institutions Withdraw From Global Climate Investment Org In Blow To Green Agenda
NICK POPE
CONTRIBUTOR
February 15, 2024
Several of the largest asset managers in the U.S. are withdrawing from a major coalition of companies focused on advancing green investment strategies and climate-sensitive corporate management.
JPMorgan Asset Management (JMAM) and State Street Global Advisors will not be renewing membership in Climate Action 100+, a coalition of investors and asset managers with a combined $68 trillion under management that pushes corporations to reduce emissions and adopt climate risk disclosure practices, according to Financial Times. BlackRock — the largest asset manager in the world — is scaling back its involvement with Climate Action 100+, withdrawing from the coalition as a corporate member but staying involved through its smaller international arm.
Climate Action 100+ and Ceres — a green shareholder activist group that co-founded the coalition — are currently under investigation by the House Judiciary Committee, which is alleging that the coalition’s advancement of progressive Environmental, Social and Corporate Governance (ESG) policies may constitute non-competitive activity in violation of U.S. antitrust law.
https://dailycaller.com/2024/02/15/jp-morgan-state-street-withdrawing-climate-investment-group/
