JPMorgan Asset Management and State Street Global Advisors have decided to withdraw from the Climate Action 100+ investor group, signaling a shift in the financial sector's approach to climate change. This move has raised concerns about the industry's commitment to ESG principles and environmental initiatives. The departure of these major players, including BlackRock, from the coalition has been met with mixed reactions, with some Republicans expressing approval.
My thoughts on the Big Oil climate lawfare: "For fossil fuel companies to adequately defend against mounting frivolous lawsuits, they will need to collaboratively fund their own state-of-the-art climate research operation to have any prayer of escaping liability. That's a high 8… https://t.co/Lyzi7H4tH1
The developing world cannot be left alone to face the frightening consequences of global warming, which is why @BogoloKenewendo makes the case for dramatically scaling up climate finance. https://t.co/eHpSCnoKEU
Last week, three of the world's largest financial institutions caved to climate deniers like Florida CFO @JimmyPatronis and backed out of their climate commitments. Climate change is real, it is here, and it poses grave financial risk to investments. https://t.co/TzSvK9sb6Y
So BlackRock, JP Morgan, etc r leaving the Climate Action 100+ — and "natural asset companies" are blocked from joining the NYSE. (Today @dgelles discusses this in his @nytclimate newsletter. Subscribe!) How do the techno optimists understand these market events, I wonder? 1/2
Major Wall Street firms reportedly exiting investors' climate group The New York Times reports several major investment firms are leaving a group founded to fight climate change. Source: CBS News https://t.co/7BkAD9JM3d
Many of the world’s biggest financial firms spent the past several years burnishing their environmental images by pledging to use their financial muscle to fight climate change. Now, Wall Street has flip-flopped. https://t.co/TNRHqYLege
Big investors pull back on climate action Major players in the financial world are rethinking their involvement in the fight against climate change. Three giants - JP Morgan Chase, State Street, and BlackRock - have distanced themselves from the climate action 100+, an investor… https://t.co/feeg9Ob5C8
Global Climate Club Takes Hit as JPMorgan Chase, BlackRock, State Street Quit https://t.co/BpJ8sMEIn4
JPMorgan, State Street Leave Biggest Climate-Investor Group The world’s largest investor group formed to fight climate change suffered a blow when two of the industry’s biggest money managers left the coalition. JPMorgan Asset Management and State Street Global Advisors said…
The investment divisions of JPMorgan Chase and State Street are leaving a climate-friendly investment initiative, sparking cheers from Republicans. https://t.co/SkKT4u3hpC https://t.co/1V7QfOc8cS
JPMorgan Chase, BlackRock drop out of massive UN climate alliance in stunning move JPMorgan Chase says its in-house sustainability efforts are sufficient to fight global warming https://t.co/JLyyzq3Mls
JPMorgan Asset Management and State Street Global Advisors announced they're leaving the world’s largest investor group formed to fight climate change. Could this be a sign that money managers are growing fearful of anti-ESG backlash? https://t.co/GFLe2OyDeg