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JPMorgan Chase, State Street, and BlackRock have all withdrawn from the global investor coalition Climate Action 100+ (CA100+), which aims to push companies to reduce climate-damaging emissions.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.
