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BlackRock leaves major climate group amid Wall Street exodus
FINANCE.YAHOO.COM
Exodus
SUMMARY
BlackRock has decided to leave the Net-Zero Asset Managers initiative due to confusion about its climate practices and legal inquiries from public officials.
The firm faced increasing political pressure from Republican lawmakers for adopting pro-climate strategies, leading to lawsuits claiming antitrust violations. BlackRock, managing over $11 trillion, stated that its departure won't change how it manages client portfolios. Despite leaving NZAMi, BlackRock remains committed to sustainable investment, overseeing more than $1 trillion in related strategies. The firm is navigating a politically charged environment as it continues its investment practices.
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