Reported about 16 hours ago
BlackRock, the world's largest asset manager, announced its departure from the Net Zero Asset Managers Initiative (NZAMI), a move reflecting a broader trend among Wall Street firms responding to political pressure from Republicans. The company cited confusion over its environmental practices and legal inquiries as reasons for leaving. Despite the exit, BlackRock maintains that it will continue to assess climate-related risks in its portfolio management. The departure comes as other major financial institutions reconsider their positions in climate-focused groups amidst changing political dynamics.
Source: YAHOO