BlackRock exits climate group amid political pressures

The world’s largest asset manager, BlackRock, has withdrawn from the Net Zero Asset Managers initiative, as reported by the Financial Times. This group includes investment firms committed to international agreements to reduce greenhouse gas emissions.

BlackRock’s decision is notable, given that CEO Larry Fink has consistently advocated for energy transition and climate goals in his annual letters to CEOs. Recently, major American banks have also exited similar groups due to pressure from conservative investors who oppose what they term “woke capitalism.”

Source: NOS

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