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Climate Action 100

All articles tagged with #climate action 100

finance1 year ago

"Wall Street Exodus: Major Firms Pulling Away from Climate Initiatives"

Wall Street giants like JPMorgan, State Street, and Pimco have recently withdrawn from Climate Action 100+, a group of institutional investors pushing companies to address climate issues. This shift comes amid increasing criticism of "woke capitalism" and scrutiny of ESG investing, with concerns including regulatory scrutiny, antitrust regulations, and potential client disapproval. The departures mark a significant change for finance firms that have previously championed the fight against climate change, and other finance giants like BlackRock and Bank of America have also scaled back their environmentally friendly initiatives.

via Business Insider|
#climate-action-100#esg-investing#finance
financeeconomics1 year ago

"Major Financial Players Withdraw Trillions from Climate Action Groups in Shocking Exodus"

Financial giants JPMorgan, State Street, and Black Rock are withdrawing a total of $14 trillion from the Climate Action 100+ organization, which advocates for ESG initiatives and controls $68 trillion in assets. Republicans have praised the move, claiming that ESG initiatives harm the economy. State Street cited a misalignment with its proxy voting and engagement approach, while JPMorgan stated it no longer needs to rely on Climate Action 100+. Climate Action, with over 700 investors, engages companies to improve climate change governance and disclosure. Republican officials have lauded the withdrawals as victories against what they perceive as collusive ESG actions.

via The Daily Wire|
#black-rock#climate-action-100#esg-initiatives
businessfinance1 year ago

"Major Financial Firms Withdraw from Climate Group, Sparking Greenhushing Trend"

BlackRock, JPMorgan Chase, and State Street are withdrawing or reducing their involvement with Climate Action 100+, a global investment coalition focused on pushing companies to decarbonize. This move represents a nearly $14 trillion exit from the organization, sparking political reactions. The companies cite concerns over the coalition's shift in focus and potential legal considerations, with JPMorgan building an in-house sustainable investment team and BlackRock transferring its membership to an international entity while maintaining some ties to the coalition.

via The New York Times|
#blackrock#businessfinance#climate-action-100
politics1 year ago

"Major Banks Exit $68 Trillion UN Climate Alliance, Prompting Victory Lap from Judiciary Chair"

House Judiciary Chair Jim Jordan celebrates as major U.S. banks, including JPMorgan Chase and BlackRock, withdraw from the $68 trillion Climate Action 100+ investor group, citing concerns about left-wing politics influencing investment decisions. Jordan's committee has been investigating potential antitrust violations by financial institutions and nonprofit climate groups, issuing subpoenas to BlackRock and State Street. The banks' departure is seen as a win for capitalism and freedom, while activists and Climate Action 100+ maintain their commitment to managing climate risk and preserving shareholder value.

via Yahoo News|
#antitrust-investigation#banks#climate-action-100
politics1 year ago

"Major Banks Withdraw from $68 Trillion UN Climate Alliance, Chair Jim Jordan Celebrates Victory"

House Judiciary Chair Jim Jordan celebrates as major U.S. banks, including JPMorgan Chase and BlackRock, exit the $68 trillion Climate Action 100+ investor group, citing concerns about the alliance's "phase 2" strategy. Jordan's committee has been investigating potential antitrust violations and coordination between financial institutions and nonprofit climate groups, with subpoenas issued to BlackRock and State Street. The move is seen as a win for America, the economy, and freedom, with Jordan emphasizing the importance of making investment decisions based on market principles rather than politics.

via Fox News|
#banks#climate-action-100#climate-alliance
financeclimate-change1 year ago

Major Financial Institutions Withdraw from Climate Alliance, BlackRock Steps Back

JPMorgan Chase, State Street, and BlackRock have all withdrawn from the global investor coalition Climate Action 100+ (CA100+), which aims to push companies to reduce climate-damaging emissions. The decisions collectively remove nearly $14 trillion in assets from the coalition's efforts, with the firms citing concerns about maintaining independence and fiduciary duty. The departures come amid growing pressure from Republican politicians and criticism from environmental groups, raising questions about the future direction of such investor groups in addressing climate change.

via Reuters|
#blackrock#climate-action-100#financeclimate-change
business1 year ago

"JPMorgan and BlackRock's Departure from UN Climate Alliance Sends Shockwaves"

JPMorgan Chase, BlackRock, and State Street Global Advisors are withdrawing from the Climate Action 100+ investor group, citing concerns about the alliance's climate initiatives and potential legal issues. The move comes amid increasing pressure on financial institutions over their environmental, social, and governance priorities. Climate Action 100+ was formed to combat global warming through corporate sustainability agreements and includes over 700 financial institutions collectively responsible for $68 trillion in assets under management. The withdrawals have sparked debate about the impact of such alliances on government policymaking and the economy, with some viewing the departures as a positive step while others remain skeptical.

via New York Post |
#blackrock#business#climate-action-100
financeclimate-change1 year ago

"Financial Giants Withdraw from Climate Group Amid BlackRock's Reduction"

JPMorgan Asset Management and State Street Global Advisors are leaving Climate Action 100+, while BlackRock is scaling back its participation, dealing a blow to the group's efforts to pressure companies on climate issues. The departures reflect a growing divide between US-based asset managers and their European counterparts on climate initiatives. The moves come amid increasing scrutiny from Republicans and state actions against financial firms involved in climate-related efforts, with allegations of unlawful coordination within Climate Action 100+.

via Financial Times|
#asset-managers#blackrock#climate-action-100
businessenvironment1 year ago

JPMorgan's Departure from Climate Alliance Sends Shockwaves

JPMorgan Chase has decided to withdraw from the Climate Action 100+ investor group, citing the expansion of its in-house sustainability team and climate risk framework. The group, formed to combat global warming, has faced criticism from Republican states and lawmakers who argue that such alliances may infringe on government policymaking and harm domestic energy companies. JPMorgan Chase's departure comes amid increasing pressure on financial institutions over their environmental, social, and governance priorities.

via Fox Business|
#businessenvironment#climate-action-100#climate-change